Most CAIB exams follow a similar format (12 Definitions, 10 Multiple Choice, and 26 Short Answer questions) but the CAIB 4 exam format is a little bit different.
This cute dog, like many insurance brokers, has questions about the CAIB 4 exam. Read on for answers.
WHAT IS THE CAIB 4 EXAM AND WHAT IS IT USED FOR?
In all provinces, the CAIB 4 exam is one of the exams you need to take if you want your CAIB Designation. In most provinces, it’s used (sometimes in conjunction with other materials) as part of your Level 3 licensing – required if you want to become a nominee, principle broker, or designated representative at your brokerage.
For most insurance brokers, it’s the last exam they take unless they want to pursue CIP and other professional designations.
WHAT’S THE TIME LIMIT? HOW LONG DO I HAVE TO COMPLETE THE CAIB 4 EXAM?
Like the other CAIB exams, you have 3.5 hours to complete the exam.
WHAT IS THE PASSING MARK? HOW MUCH DO I NEED TO SCORE TO PASS THE EXAM?
Like the other CAIB exams, you need to score a 60% or higher to pass.
WHAT IS THE CAIB 4 EXAM FORMAT?
It will be all essay questions. There will be no multiple choice, definitions or short answer questions.
HOW MANY QUESTIONS ARE ON THE CAIB 4 EXAM?
The short answer is, I don’t know. The exam will be out of 100 marks and they will all be essay style questions. Some might be worth 2 marks, other could be worth up to 10 so the number of questions on each exam vary.
It’s safe to say that there will be between 10 and 50 questions on the exam.