Dealing Representative Proficiency Course

1 March 2016 Dealing Representative Proficiency Course The RESP Dealers Association of Canada s (RESPDAC) Dealing Representative Proficiency Course (DRPC) is the initial training and Proficiency requirement for new sales representatives. This Course is accepted by the securities regulators in each province and territory in Canada as the educational prerequisite to licensing as a sales Representative for a scholarship plan dealer. People who invest in scholarship plans expect excellent service, expert knowledge and absolute trustworthiness from sales representatives and dealers. You will be entering into long-term relationships with your clients and they will be relying on you when making important investment decisions.

2 Your clients and your dealer must always have confidence in your integrity. To meet these expectations, you must have proper training and be able to demonstrate a thorough understanding of your regulatory and ethical obligations. The DRPC is a self-study Course . To successfully complete it, you must obtain a grade of at least 70% on a final two-hour examination. You should expect to devote a significant amount of time about 20 to 30 hours to studying and reviewing the Course study material. The final examination must be completed within three months of y o u r registration in the Course . Of Course with hard work and diligence, you may complete the Course and the exam in a much shorter timeframe.

3 Sample examination questions have been included in the material to reinforce important concepts and to illustrate the scope of the knowledge required to successfully complete the Course . This Course will cover: The RESP Dealers Association s Code of Ethical Business Conduct. The rules governing RESPs and Federal and Provincial Grant programs. The general design of scholarship plans. The various disclosure documents provided by scholarship plans. Scholarship plan fees and expenses. The role of the scholarship plan dealer. Responsibilities of sales representatives. Advertising practices and regulations. The regulatory framework. An overview of the economic and financial environment in Canada.

4 RESP Dealers of2 March 2016 Procedures for registration and Examination An individual seeking registration as a Dealing Representative for a scholarship plan dealer will be required, as part of their qualifications, to study and understand the material contained in the Dealing Representative Proficiency Course ( DRPC ) and to successfully complete an examination based on the DRPC. ENROLLMENT PROCESS: Applications to enroll in the DRPC should be made directly to the Dealer Coordinator of the firm sponsoring the individual s licensing application. Upon acceptance of the application and receipt of any applicable fees or tuition charges, the Dealer Coordinator will register the individual in the DRPC.

5 Acknowledgment of registration will be sent to the individual by RESPDAC, along with the required User ID and initial password to access the information online. Should printed Course materials be requested, RESPDAC will deliver the materials to the Dealer Coordinator for distribution to the student. registration FEES: For information concerning the Course fees, contact the Dealer Coordinator of the firm sponsoring the individual s licensing application. The fee provides web access to the study material and two opportunities to write the final examination. If unsuccessful after two attempts of the final examination, the individual should contact the Dealer Coordinator of the firm sponsoring their licensing application.

6 A printed copy of the study material is available for an additional $50. An Invigilator will supervise the examination. Fees for Invigilators vary. PREPARATION FOR EXAMINATION: RESPDAC has developed examinations that will test the student s understanding of the D R P C s t u d y material. The Course provides the individual with a practice examination facility as well as review questions for each chapter. Should the Course material be purchased, a sample examination is included, along with questions at the end of each chapter. These sample questions will help individuals assess their comprehension of the Course material and their readiness to write the final examination.

7 EXAMINATION TIMING: Individuals will be allowed three months from date of acceptance of their application to write the necessary examination. When an individual feels that they are ready to write the examination, they will be required to contact a designated exam invigilator in their area to arrange a time to sit for the final examination. The online facility provides the required information to locate and contact an invigilator as well the fees charged. Invigilator fees generally range from $25 - $50 depending on the site chosen and are payable by the individual to the invigilator before writing the exam. The examination will be presided by an Invigilator, who will oversee the examination.

8 RESP Dealers of3 March 2016 EXAMINATION CONTENT: The final examination will be an on-line (computer- based) examination in multiple-choice format. Exams will be closed-book and will be completed before an invigilator. Individuals will have 2 hours to complete the examination. Passing grade is 70%. EXAMINATION PROCESS: On arrival at the designated examination location, students will provide the Invigilator with proper identification to ensure that the person writing the exam is properly registered. Individuals who do not present appropriate identification will not be permitted to write. Individuals are not permitted to bring in any notes or other reference or resource materials to the examination.

9 Consultation with notes or other reference sources from the start of the examination until the time that the examination has been completed and submitted will result in the disqualification. The examination will be provided in an electronic fashion. Once the Invigilator has verified the individual, they will initiate the final examination process. Upon completion of the examination, or after 2 hours, which ever is first, the Invigilator will sign off the examination and terminate the test. NOTIFICATION OF RESULTS: During the signoff process, the system will display the results of the examination for information for the individual. On successful completion of the DRPC, RESPDAC will provide the individual with a graduating Certificate along with a covering letter to identify the results of the final examination.

10 CONFIDENTIALITY: RESPDAC holds examination results in confidence and will disclose them only with the prior consent of the individual, to securities regulators in compliance with regulatory obligations, in response to a legally enforceable demand for production or to regulatory or law enforcement authorities if there are grounds to suspect that a misrepresentation has been made with respect to those results.