Overview
Course Overview
The Broker's Business Planning and Financial Management Licensing Course is administered on behalf of the BC Financial Services Authority (BCFSA) and received the Education Award of Excellence from the Association of Real Estate License Law Officials (ARELLO®), an international organization of regulatory agencies. The course is designed to provide the licensing education requirements for those who wish to become licensed as an associate broker or managing broker, want to license a brokerage or sole proprietorship, and for those licensees looking to increase their knowledge on a variety of business planning, financial accounting and human resource management topics. Managing a successful real estate office or business demands both a strong background as a representative and an understanding of how to operate a business, including: public protection, establishing the business, financial accounting, human resource management and leadership. This course includes in-depth, practical case scenarios which help students bridge theory to practice. For detailed course content information, please view the Table of Contents and Course Regulations.
This blended learning course allows you to register at any time. While the course is flexible in order to meet the needs of busy adult learners, it provides just enough structure to ensure high quality learning (for example, in order to provide for a minimum level of familiarity with the curriculum and for a reasonable expectation of success on the final examination, assignments may be submitted on a pace that is no greater than 2 assignments per week beginning on the Course Registration Date). You must complete all course assignments within one year of registration in the course and also pass a final examination. Regularly scheduled exams take place at various times throughout the year throughout the province (exams must be written in Canada) or you may choose to take your exam at the computerized exam centre (CEC) at UBC (additional exam fees apply).
Quick Course Info
- Blended learning course with support
- One year to complete assignments
- Final exam required
- Tutor service included
- Tuition: $1,150
What's Included
- Manual and online course materials (i.e. assignments and Practice Questions)
- Course Resources website
- Tutor service by phone and email
Associate Broker and Managing Broker Licensing - Step By Step Guide
To become licensed as an associate broker or managing broker in British Columbia, individuals must complete the Broker's Business Planning and Financial Management Licensing Course and satisfy an experience requirement. The BC Financial Services Authority (BCFSA) provides descriptions of associate and managing broker duties and a helpful step-by-step guide and budget: Broker Licensing.
Pre-requisites, Registration Requirements, & Good Reputation
To register in the Broker's Business Planning and Financial Management Licensing Course, course candidates must have completed not less than six months' licensed service in British Columbia at the time of registration, or two years' licensed experience in the past five years as a broker or associate broker outside of British Columbia. (Note: In order to obtain the broker licence, licence applicants must ensure they satisfy section 11 of the Real Estate Services Rules, which requires two-years experience.)
As well, in order to be eligible for real estate licensing in the province of British Columbia, section 10(b)(i) of the Real Estate Services Act requires that an applicant for licensing is at least 19 years of age.
The Real Estate Services Act also requires that every applicant for a licence be of “good reputation”. General business and personal reputation, in addition to criminal convictions and charges under the Criminal Code of Canada, contraventions to Federal or Provincial statutes, or previous discipline by a professional body will be reviewed when considering an applicant’s “good reputation”. If you have concerns about your eligibility for licensing as it relates to good reputation, you may want to review BCFSA’s Good Reputation Guidelines before registering in a licensing course.
Individuals may be licensed at the broker level for a single service licence category or a combination of service categories (e.g., trading and/or rental and/or strata management services). When upgrading to the broker level, an individual will continue to be licensed in the same categories that they were licensed for as a representative. Should an individual wish to add service categories to their licence, the appropriate Supplemental Course(s) must be completed.
Students are strongly advised to contact the BC Financial Services Authority at +1 604.660.3555 or toll-free at 1.866.206.3030 prior to registration to confirm their licensing status.
Accessibility
Accommodation for Students with Disabilities
The Real Estate Division's goal is to ensure fair and consistent treatment of all students, including students with a disability, in accordance with their distinct needs and in a manner consistent with academic principles. UBC Centre for Accessibility works in partnership with the Real Estate Division and provides support on issues of accessibility for people with disabilities. Examination accommodations enable you to demonstrate your knowledge of the course materials in cases where a disability may impact your ability to access exams under standard conditions.
Students who may have an on-going disability or medical condition that requires accommodation must contact UBC Centre for Accessibility by telephone: +1 604.822.5844 or email: accessibility@ubc.ca.
Examination accommodation must be approved by the Centre for Accessibility, and an accommodation letter must be received by the Real Estate Division prior to examination registration. As well, registration must be received by the Real Estate Division no later than six weeks prior to the examination date.
Student Support
The following student support services are included in the course tuition fee:
- Tutorial assistance from our course specialists, through a toll-free number and email.
- Online course resources, containing course updates, study materials, schedules, and tutorial information.
External Tutors
You are encouraged to take advantage of the Tutorial Assistance provided with your course rather than spending additional money on external services. It is important to note that the Real Estate Division has no ties with tutorial classes provided by other members or organizations of the real estate industry and does not monitor or check the services they provide. The Real Estate Division cannot be responsible for any information provided by these individuals or companies. External tutorial companies regularly make false claims, such as "only 30% of students pass the exam" or "we'll guarantee that you will pass the exam", so that you will spend your money with them. Remember, there are no guarantees and the Real Estate Division works with all students to provide every opportunity for success.
Frequently Asked Questions
General Issues
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Phone numbers, fax numbers, email addresses, etc. can be found at the Contact Us area of the website.
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The Real Estate Division is divided into several different groups and has staff who specialize in specific areas. While any Real Estate Division staff member you talk to will do their best to help you, certain staff members deal with specific enquiries. If you need help in one of the areas below, please ask for the appropriate staff person who can help you.
- help with course planning, exemptions, etc - ask to speak to the Admissions Officer or a Course Representative.
- help with administrative issues, such as course registration, assignment processing, exam registration - ask to speak to a Course Representative or Exams Coordinator (specify which course you are interested in)
- help with course content - ask to speak to a Tutor (either "law" or "non-law")
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Directions and parking information can be found at the How To Find Us area of the website.
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To determine which licensing course you should take, read the brief course descriptions on the Licensing Programs webpage. Follow the links for each individual course to find out more.
Course Assignment Issues
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Depending on the course, students are required to submit and pass either multiple choice or multiple choice and written assignments in order to be eligible to register for the final exam. These assignments ensure that students are reviewing the course materials and provide feedback on their level of understanding.
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Limiting the frequency of assignments to two assignments per week is a Real Estate Division Licensing Course regulation which is in place for the best interests of both students and the public. This regulation was arrived at after a great deal of consideration and after consultation with the BC Financial Services Authority. A number of factors were taken into account, including the increased volume and complexity of information contained in the licensing courses and also our observations of student completion and success rates. This regulation is intended to provide not only for a minimum level of familiarity with the course materials, but also for a reasonable expectation of success on the course examination. Please see Course Regulation 2.02 (4) and (5) for more information.
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Only 2 multiple choice assignments may be submitted in a particular week, regardless of how many assignments have been submitted in prior weeks. Written assignments, if applicable, may be submitted at any time before 12 months from the date a student registers for a course regardless of how many multiple choice assignments have been submitted in that week.
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There is no exemption from Course Regulation 2.02 (4). This regulation is intended to provide not only for a minimum level of familiarity with the course materials, but also for a reasonable expectation of success on the course examination. As educators our hope is, of course, that given the importance of a good educational basis for a career in real estate services, most students will wish to engage with the materials to a much greater extent than merely the minimum.
Examination Issues
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The Broker's Business Planning and Financial Management Licensing Examination will be three hours in length and contain both multiple choice and written questions that are generally short-answer or "essay-style". Note that an "essay-style" question does not require you to write an essay! In general, a short paragraph will suffice. In most questions, point form answers are perfectly acceptable.
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Seventy (70) percent is a passing grade. A passing grade sets the minimum level of performance needed to practice in a profession, as determined by the regulatory body. The passing grade needed must be high enough to protect the public but not so high as to unreasonably limit the number of those who wish to practice.
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No, this is not true, although extremely low passing grades are sometimes made up and reported by tutorial outfits who are looking for your business. The pass rate for each sitting of the exam varies, however, the majority of students who write the exam will pass. The UBC Real Estate Division and the BC Financial Services Authority do not try to limit the number of students who pass the exam - they are only concerned with the fact that those who do pass the exam have the prerequisite knowledge to be likely to not harm the public.
Challenge & Exemptions
In certain cases, course exemptions are available based on previous related experience or education. If you are currently licensed and wish to add a service to your licence, you are required to complete the Supplemental Course and Examination. Details about course exemptions are set out in the Educational & Licensing Guidelines provided by the BC Financial Services Authority.
Challenge Package
The Challenge Package assists students who have received permission to challenge the examination. The Challenge Package includes the course materials (such as the course manual, online assignments and answer guides, online Practice Questions), access to the Course Resources webpage and the central tutor support service.
Tuition for the Challenge Package is $350.
The following candidates are eligible to purchase the Challenge Package:
- Individuals who have been provided with a written confirmation of a course exemption from the BC Financial Services Authority.
Eligible candidates should:
- Read the Challenge Package and Examination Information
- Download and submit the Challenge Package Registration Form
Please note that as an alternative to purchasing the Challenge Package, you can purchase some course materials individually from the Bookstore; however, the online assignments and answer guides, student handbook and access to the Course Resources webpage are only available with the Challenge Package.
Exemptions
If the BC Financial Services Authority has provided you with permission to challenge the course by writing the examination only and you wish to register for the next regularly scheduled examination or a CEC examination without purchasing a Challenge Package, you should:
- Read the Challenge Package and Examination Information
- Download the Challenge Examination Registration Form
Do not download the challenge exam registration form if you are currently registered in the Broker's Licensing Course.
Inter-Provincial
Inter-provincial candidates (those wishing to transfer their licence from another province/territory to British Columbia) should visit the BC Financial Services Authority's Jurisdiction webpage for information.
Register
Tuition and Registration
Broker's Business Planning and Financial Management Licensing Course: $1,150 Register Now
Visa, Mastercard, AMEX, certified cheque, and money order only. Cash and personal cheques are not accepted.
What's Included
Your tuition fee includes all of the appropriate course materials (e.g., manual - usually dispatched via courier within approximately ten business days of registration), access to the Course Resources website, and tutorial services.
Please note that tuition fees are subject to change and a minimum withdrawal reduction of $200 will apply once your registration has been processed. No refund of course fees will be available unless a withdrawal request is received by our office within one month of your registration date.
Calculator and Calculator App
Due to ongoing global supply chain issues and chip shortages, there is currently a shortage of HP10Bii calculators.
Students who plan to write their examination at the UBC Computerized Examination Centre (CEC) in Vancouver, should download the HP10Bii calculator app from In a Day Development to use during the course. If you plan to write your exam at the CEC, you DO NOT need to purchase a calculator. A physical calculator and/or an iPad with the app will be provided to you at your CEC exam.
If you choose to write your examination on a regularly scheduled examination date (at province wide locations), you will need a physical calculator for your exam. The calculator we recommend is the Hewlett Packard 10Bii+ calculator. There are many used calculators for sale on Facebook Marketplace, Craigslist and other Buy/Sell websites, along with other vendors who sell the calculator, and we encourage you to explore these options. If necessary, you can also purchase the calculator from the RED Bookstore for $112 ($100 plus $12 tax). No refunds are available after purchase and supply is limited.
If you are unsure as to which exam option you will choose, consider delaying the purchase of a calculator and in the meantime, download the calculator app for use during the course.
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Have a question?
Our team is happy to help.