Becoming a Broker

The Fundamentals of Insurance is not offered by classroom in PEI; however, you can purchase the textbook and study on your own. 

The following is the link to the PEI Government website which will provide you with the information on how to get a general insurance (not life) license in PEI:

You are required to pass a “general knowledge” exam before you can get your sales license and then, you must be sponsored by an insurance company before the license will be issued. Licenses issued to agents/brokers are for a two-year period and the current licensing fee is $200 (payable to the Minister of Finance P.E.I.). 

There are a few options for the general knowledge exam: 

1) You can write an exam at the Superintendent’s office. The exam is written with the PEI Government which is on the 4th Floor of the Shaw Building at 95 Rochford St., Charlottetown, PE. It is a 2-hour exam and can usually be written every second Monday at 10 a.m. There is a cost of $50 (payable to The Provincial Treasurer PEI) to write the exam. You can pay cash, cheque or debit. When you are ready, you should call Phillip McInnis at the Superintendent’s Office (368-4937) to confirm the time and date of the exam. (With summer vacations, they sometimes change the time or date to write). You can attempt to write this exam using any study material you like … the Government recommends using the Fundamentals of Insurance textbook. If you know of anyone who has the book, you could borrow it rather than buy it. The pass mark is 75% and you can write the exam as many times as you like to get a pass. 

2) You can contact the Insurance Institute office for PEI to make arrangements to take their courses either by correspondence or evening class (if one is available): 

Insurance Institute of PEI 
Direct Dial: (902) 892-1692 | Fax: (902) 368-7305

They offer two study options: 

a) General Insurance Essentials (GIE) – see:

This is a two part course which would require you to write two exams (usually one in April and one in December). This course will give you a completion certificate. It is equivalent to writing the exam with the Government. Revised September 2018 Page 2 of 2 

b) Or, Principles and Practices of Insurance – see:

This course has all the same information as the GIE, but is compacted into one course – the exam can be written in either April or December. It does not give you a completion certificate as it is the first course in a series of ten courses. If you take all ten courses, then you would get a completion certificate for your Chartered Insurance Professional (CIP). The Principles and Practice course is also equivalent to writing the exam with the Government. 

3) The Insurance Brokers Association of PEI (IBAPEI) provides a correspondence course called Fundamentals of Insurance – see:

I can order this textbook for you. The cost is $100 (cheque payable to the Insurance Brokers Association of PEI). You would then write the Government exam when you are ready. 

4) The Fundamentals of Insurance course is also offered by classroom instruction (a week-long class) in New Brunswick or Nova Scotia. If you are interested in this option, then let me know and I’ll get you the dates of the next class and confirm the costs. 

Hope this helps! If you have questions, then feel free to call me to discuss further. I volunteer with the Insurance Brokers Association of PEI and look after their education programs. My contact information is as follows: 

Karen Doiron, FIIC, CCIB – IBAPEI P.D. Chair 
Phone: 902.566-5666 x4848