Insurance Institute OTL Exam Questions – Getting Ready For the OTL Exam

otl exam questions

In order to become a otl exam questions general insurance agent in Ontario you need to pass the OTL exam (Other Than Life). The insurance Institute offers otl exam questions geared towards getting students ready for this provincial exam. It is important to remember that the purpose of this exam is to test your understanding of the material not just to memorize the questions and answers. The exam is based on the test content outline provided by the Insurance Institute and requires a passing score of 75%.

On the exam you will be asked 100 multiple choice questions and have 2 hours to complete them. The questions will be a combination of terminology, number/day and practical situations that you must reason through using the knowledge you have to make decisions. Students report that about 1/3 of the questions will be terminology, 1/3 are numbers/day and the final third are story problems that require the application of the knowledge you have to a real-world scenario.

OTL Exam Unveiled: Assessing the Challenges and Preparing for Success

Students that pass the OTL exam can then choose to work as an Insurance agent or a Insurance Broker. Insurance agents work directly for one insurer and arrange contracts of insurance on behalf of that company generally referred to as direct writers whereas brokers are able to shop policies with many different companies offering expert advice to clients.

Regardless of your chosen career path there are other requirements you need to meet including a criminal background check and you must be sponsored by an insurer. For more information please visit the Insurance Institute of Canada’s website and connect with your local chapter.

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