What's New > Now Offering! Online Fundamentals of Insurance Exams -FAQ's
IBANS is pleased to now offer online exams for the Fundamentals of Insurance (FOI)/General Insurance Exam
Below are some FAQ's regarding the FOI exam:
What is an online exam?
An online exam is an exam you take on the computer. Instead of writing the answers on paper, you will type and submit them online.
Has the structure of the FOI exams changed?
No, the structure remains the exact same. The exams consists of 100 multiple choice questions.
When are the online exam dates?
There are no longer specific exam dates. Students may challenge the exam when they feel prepared on the following days/times:
Monday - Friday from 11:00am-9:00pm
How much notice do I need to give before I write for the exam?
You must give at least 5 (working) days notice.
Do I have to purchase the textbook to register for the exam?
No. We sell our education offerings separately. If the student already has a copy of the textbook ( most recent edition is 2017 ) then they can simply register for the exam only.
How do I purchase a copy of the textbook?
You can purchase it on ibans.com by clicking Courses and Training, Fundamentals of Insurance, then click the Textbook link on the right hand of the screen. Textbook prices are $135+HST for IBANS members; $165+HST for non members
How do I register for my online exam?
Please follow the steps listed HERE
What is the FOI exam fee?
The exam is purchased separately from the textbook. To purchase the exam only, the cost is $125+HST, or $75+HST for rewrites.
How do I pay for the online FAQ exam?
Payment by credit card is HIGHLY recommended for ease. You can enter the credit card number at the time of purchase, or have someone else call in a credit card number for you
If paying by cheque, please give 2-3 weeks notice when registering for the exam. Cheques must be received and processed before the exam date.
Full payment must be received by our online provider, Captus Press before exam codes will be sent. Students are not permitted to write their online exam until full payment is received and processed.
Who can proctor my exam?
Proctors must be a supervisor, manager or brokerage principal. For students not currently employed with a brokerage, please contact Keri Foley firstname.lastname@example.org to discuss proctor options.
COMING SOON - We will be offering online proctoring for an additional fee. Date - TBA.
How many times can I rewrite the exam?
For Fundamentals of Insurance, a student can have 3 consecutive attempts to write the exam. After that, there is a three month gap between attempts. After the fifth attempt onwards, there is a six month gap.
Can I write the exam off and on throughout the day when I'm not busy?
Absolutely not. You must not be doing other tasks when you are writing your exam.
What is the time frame of the exam?
Students have 2 hours to complete the exam
What is a passing mark?
Student must obtain a 75% or higher on the exam to pass
Can I defer the exam once it is booked?
No. We do not except exam deferrals, unless there is an emergency.
What do I do if there are technical issues?
Support is available for you by calling Captus Press at 1-866-348-7888, or emailing email@example.com
When can I expect to receive my mark?
Marks are sent automatically once the exam is finished. Students will be sent an email, and will receive a certificate upon successful completion of the exam.
What are my next steps after I successfully complete the FOI exam?
If you are currently working for a brokerage, you will complete your license application, and attached your certificate when applying for your Level 1 or General license.
For those not currently working for a brokerage, once you obtain a position at a brokerage, you will complete your license application, and attached your certificate when applying for your Level 1 or General license. You can bring your certificate as proof of completion of the FOI exam to any interviews with potential employers.