This webpage is meant to provide information and tips to help you with studying for your license. The licensing process is done in stages:
Purchase your Study package from Oliver's Learning, available through the WFGLaunch web portal.
Study
Write the Certification Exams (certs) - a series of 4 exams
Once you have passed the certs, you will be able to book the Provincial Exams
Write the Provincial Exams - a series of 4 exams, similar to the "certs"
Once you have passed the provincial exams you will apply for your license
When your license has landed it needs to be "placed". There are two additional exams that need to be done here: Ethics and Anti Money Laundering
Refer to the sections below for some tips on the studying and exam process.
Refer to the webpage entitled Licensing Process for more information on the entire process.
If you have not done so already, go to your WFGLaunch portal and purchase the package for the "HLLQP for all provinces except Quebec", $199 bundle from Oliver's Learning– this course is actually $369 but because of your association with WFG you get a discount.
This bundle includes the 4 modules: Ethics; Life; Segregated Funds & Annuities; and Accident & Sickness. There are two additional modules, Ethics & Anti-Money Laundering included as well. You'll use this package for studying and writing the Certification Exams.
If you need some help getting this package, speak with your Trainer.
Additionally, we have two other licensing/learning tools – Apex Learning and Bootcamp. These are not mandatory but may help you with the study/exam process. Consult with your certified trainer to learn about these options.
Firstly, PLEASE DO NOT OVERSTUDY!!!
This is a classic mistake – all of the real learning in our business, system and on the concept/strategy side is done in the field with your leaders and trainers.
This is not school; we don't really care how well you score on these exams as long as you achieve 60%+ (Life, Segregated Funds & Annuities, Accident & Sickness) and 70%+ (Ethics). How many intelligent people do you know, or that you grew up with, could score high on an IQ test and achieve the best marks in school? Many of them may not be that fulfilled or successful in life today! We all know these people. Most people who achieve the highest grades in school throughout their lives make great employees, but
WE ARE ENTREPRENEURS HERE!!!
We look for people who have courage, show initiative, take action, persevere and are resilient – oh, and let’s not forget the importance of good old common sense, that will take us all quite far in life as well. How about the importance of our associations? This is everything and 1000 times more. I’m sure you get the point, right? Great! Let’s keep going...
There are 5 sections to the LLQP course –
Ethics (1-2 hours) –
Taxation Principles (1-2 hours) –
Life Insurance (3-5 hours) –
Accident and Sickness (1-3 hours) –
Segregated Funds and Annuities (3-5 hours).
The hours in brackets are the number of hours anyone should spend studying each section – we have recommended 9-17 hours in total study time.
How many hours do most people work in a week, 40 right?
So, can we all fit in time to get this done? 1000% we can! It really comes down to a choice of whether we want to spend the time/effort doing it or not.
Here is some perspective, we all have the same 24 hours in a day or 168 hours in a week. We spend approximately 96 hours per week working and sleeping, which leaves us with 72 hours left over – say we spend 30 hours with family 20 hours scrolling, watching Netflix and relaxing, 10 hours exercising (hopefully) – we still have 12 hours left. This means, anyone can use that remaining 12 hours each week for a 2-week period and get these courses complete, think you can do it? We know you can!
So how do you study? First of all, skip over Taxation Principles – this should be reviewed once your certification exams have been complete for the other 4 sections. We recommend this simply because there is no certification exam for this section so leave it until the end.
There are 4 certification exams you need to complete –
ETHICS
LIFE
ACCIDENT/SICKNESS
SEGREGATED FUNDS/ANNUITIES
(Nothing to complete for Taxation).
You may wish to tackle the exams one at a time, or multiple ones at once. Many do two at a time, in two sessions.
NOTE: The Ethics Course (Which is part of your Oliver’s HLLQP Bundle) needs to be completed prior to attempting the Ethics Certification Exam.
Ethics – Do this first, statistically speaking it’s the easiest section and a great way to get your feet wet and build some confidence.
This section is most “dry” so might as well get it out of the way early. Many people do not even study this section, they just challenge the certification exam. Watch the videos and go after it! 1-2 hours total study time maximum.
Life Insurance – This section is a bit more difficult but also interesting. Once again, get into the need-to-know videos and bootcamp videos. Attempt the mock exam and as soon as you get 60%+ complete the certification exam – 3-5 hours total study time.
Accident and Sickness – statistically speaking this is the second easiest section. Maybe it’s because we have all heard of some of this stuff through our employers plans etc. Need to know videos and bootcamp will work best as well as attempting the mock exam – 1-3 hours total study time. ·
Segregated Funds and Annuities – Statistically speaking, this is the most difficult section for most people but also the most interesting. Once again, watch the videos and attempt the mock exam – once you achieve 60%+ attempt the certification exam.
Each section has study notes, audio notes, there’s the AMF text book, chapter quizzes, mock exams, need to know videos, and bootcamp videos – this seems like a lot of stuff, but do not feel intimidated or overwhelmed. All of these resources exist so people can use what best suits them. Some prefer to read, some to listen, some watch videos and take notes, some skip studying and challenge the exams open book, some do the quizzes and mock exams to understand the questions etc. Whatever suits you best, do that!
Having said all that, what we find works best is the “need to know videos”, “bootcamp videos” and attempting mock exams – as soon as you pass a mock exam with 60% or higher attempt the certification exam immediately, why wait? Resist the urge to procrastinate! It feels amazing and a huge weight is lifted off everyone’s shoulder when they pass a certification exam, and eventually achieve a license – it’s a great achievement that we all celebrate, we will celebrate you when you complete the exams that’s a promise!
USE CONTROL “F” or the “Search” option to search key words – this little tip will be your best friend. Get comfortable using this function when you are doing the "mock exams".
All exams are open book – you can pull up the text book when attempting certification exams.
Mock Exams can be printed off so anyone can find out what they got wrong and it provides an explanation for your learning – feel free to reach out to a licensed agent on your team if you don’t quite understand something.
Once you have studied and written the "mock" exam and obtained a pass mark, attempt the Certification exam for that module. Don't procrastinate. Take the Certification exam while the material and process you learned is still fresh.
Once you begin the studying process, do not let it drag out too long.
The last thing you want is for this licensing process to take 3-6 months and you forget the things you learned months ago – decide to commit and go for it. Reverse engineer this process, which means set a date to have everything completed by and hold yourself accountable to that. We will hold you accountable if you ask – this is an example of strong leadership!
Definitely reach out to your field trainer if you have questions in this section (or any other section). It should take just 3-5 hours total study time to prepare for the certification exams since you are only working to "refresh" your memory from your studies.
You may wish to do the separate modules one at a time, study, pass the mock exam, then write the certification exam for that module, then move on to the next. Some do two at a time. Whatever is best for you. The main thing is to compress the time for studying and taking the certification exams to a short time period.
Certification exams are "monitored". You'll need a computer with a camera and microphone. Your computer will require the Oliver's Digital Lock installed and activated to ensure you only get access to the text book and exam itself during your exam. You need to write these exams in a quiet environment free from interruptions, and free from clutter. Your desk should have nothing more than just your computer on it. Many choose to come to the office to write these exams in our Exam room. Consult your field trainer, MD, or SMD to get access to the office exam room.
Even though the certification exams and provincial exams are open book, you do not have enough time to search all the answers – you may only be able to search 10-15 questions/answers and have enough time to complete each section – 75 mins is allotted to complete each certification exam.
What if you don't pass an exam?
Don't sweat it. Everyone gets 3 “free” attempts to pass the certification exams in each section. If you are not successful after 3 attempts a cost of $20 per attempt is applied after that. The most we have seen after 3 attempts is 7 – yes, that person spent an extra $140 to get licensed – thankfully, it is tax deductible.
Once you have completed and passed all four Certification Exams you are ready to book and do your LLQP exams.
Again, get all four certification exams completed and out of the way quickly, in a short time period, then book all four provincial exams as soon as possible. Unlike the Certification exams which can be done any day/time of your choosing, the provincial exams are taken by "appointment".
The LLQP exam is administered by Durham College. In order to take the exam you must present a certificate of completion of the LLQP course certification exams.
There is a $264 fee payable to write the LLQP which allows for one attempt at all 4 exam modules. If you fail, separate fees will be charged for subsequent rewrites.
The mock exams and certification exams are meant to prepare to you write the provincial exam – they aren’t identical but they are all very similar in terms of the questions being asked. What we find is most people actually score BETTER, yes BETTER on the provincial exam vs. mock exams and/or certification exams.
Before writing one of the LLQP exams, take an hour or two to "brush up". Review any items that you had trouble with in the previous mock or certification exams.
DO NOT FEEL INTIMIDATED! You've got this!
The exams are online and "Proctored" by Durham College at set appointment times. Don't miss your appointment! Examinees are responsible for being present during their scheduled exam day and time.
Other things to note:
-Examinees shall have their login credential to access the system and present an officially recognized ID card with photo to a live proctor upon successful login.
-Examinees are required to be equipped with appropriate, properly functioning technology such as a computer with one display or monitor, webcam, microphone, and stable internet connection. Exam space must be walled with a closed door, well-lit and free from any disruptions. The workstation shall be clean and clear of all materials. A shared office or public space shall not be accepted.
-Examinees’ surroundings shall be monitored before and during the exam upon request of the live proctor.
-Examinees shall only use authorized materials during the examination. Use of cellphones, programmable calculators, smart watches, cameras, and other unauthorized electronic devices is strictly prohibited.
-Similar to the certification exams, your computer will require the Olivers Digital Lock installed and activated to ensure you only get access to the text book and exam on your computer.
Once you pass the 4 LLQP exams, you’re ready to apply for your licence, then "place" it. You'll learn more on this in the "License process" webpage. Once your license is active on the system, you’ll be able to help yourself and others while earning money from the financial services companies we are affiliated with, it’s a beautiful thing! Never feel bad about getting paid with our company – it never costs a family a dollar to sit with us and implement strategies, all of our compensation comes from large insurance companies, banks and fund families – they have billions upon billions of dollars they’re willing to give out to agents like us for sending them new clients/business.
Now get busy and get your studying and exams out of the way!