Quebec
To apply to the AMF for a representative’s certificate, you must first meet the minimum training requirements based on the sector or sector class chosen, pass the examinations prescribed by the AMF and carry out a training period.
Minimum Training
A post-secondary diploma that includes at least 450 hours of training.
or
The Work-Study Learning Program — WSLP.
or
Until October 31, 20011: A high school diploma and a decision of the AMF attesting
that the applicant was engaged in full-time employment for at least three years;
or a decision of the AMF attesting that the applicant has completed a level of education
equivalent to a high-school diploma and that the applicant was engaged in full-time
employment for at least three years.
Examinations
The Regulation respecting the issuance and renewal of representatives’ certificates
(Regulation No1) identifies for each sector or sector class the skills that the
applicant must acquire to carry on activities as a representative in the area of
financial products and services. Each skill is evaluated through an examination.
Once the examinations are successfully completed, the applicant must fill out an
Application for Attestation of Training in order to complete a training period.
Training Period and Training Attestation
The training period consists of a period of practical training in the workplace
for 45 or 90 days, depending on the sector or sector class. Throughout the training
period, the applicant must present him or herself publicly as a trainee and comply
with the rules governing the activities of a representative, as would the holder
of a certificate issued by the AMF. The applicant will be supervised throughout
the training period by an experienced representative called "training supervisor."
The Training Attestation is an official document issued by the AMF. It indicates
the dates on which training starts and ends, the name of the training supervisor
as well as the sector or sector class in which the activities as a trainee will
be carried on. This attestation is compulsory and entitles you to carry on your
activities legally throughout your training period. The applicant must therefore
be issued the attestation before he or she can perform any act related to your activities
as a trainee.
To be authorized to advise consumers and to sell financial products and services,
the applicant must obtain the right to practice pursuant to An Act respecting the
distribution of financial products and services. For an individual, the right to
practice is obtaining a representative’s certificate and being authorized to carry
on business. The way of carrying on business is the manner in which the holder of
the right to practice carries on his professional activities.
Professional Development
Compulsory Professional Development Requirements over a 2-year period:
- 10 PDU’s in administration or insurance techniques or law and legislation
- 10 PDU’s in professional development or other categories
- Those who earn more than 20 required PDU’s may transfer 3 PDU’s to the following compliance period
- Newly certified members will be exempted from compulsory professional development for 12 months after having passed their entrance examinations
