In 2021, 42 candidates, which was four more than last year, participated in the Oral Board of Examination. Of these candidates, 30 were challenging the board for the first time, while 12 were returning candidates.
Due to the COVID-19 pandemic and the restrictions imposed in various jurisdictions, all oral board examinations were held virtually this year. Candidates were able to adapt and many appreciated the virtual nature of the examination, as can be seen in the highest success rate attained since 2017.
The members of the board recommended that trustee licences be issued to 34 candidates. This corresponds to a success rate of 81% for the 2021 Oral Board Examinations.
Most candidates were well prepared and demonstrated the required skills assessed during the examination: Effective Judgment and Strategic Thinking, Business Ethics and Professional Skills, and Ability to Communicate Orally.
Of the eight candidates who did not receive a recommendation for a licence:
- Two did not successfully demonstrate any of the three competencies;
- Four did not successfully demonstrate two of the three competencies;
- Eight did not successfully demonstrate Effective Judgment and Strategic Thinking;
- Six did not successfully demonstrate Business Ethics and Professional Skills;
- Two did not successfully demonstrate the Ability to Communicate Orally.
Of the 12 returning candidates, nine (75%) received a positive recommendation this year.
Over the past five years, 194 candidates have challenged the Oral Board of Examination. During this period, 146 licences were issued, representing a success rate of 75%.
In all, 24% of candidates have challenged the Oral Board of Examination on more than one occasion. Of these candidates, a licence was issued to 68% on a subsequent attempt.
The charts below provide information on the success rate of candidates over the past five years based on age, highest level of education and work experience in insolvency.
The highest success rate was achieved by candidates under 30 years of age.
Candidate success rates at the Oral Board of Examination generally increases with the level of education.
Experience in Insolvency
The highest success rate was achieved by candidates who had between five and nine years of work experience in insolvency.
Employment Equity Groups
As published in the 2020 Oral Board Examination results and building on the 2019-20 Business Plan priority, Representativeness in the Licensed Insolvency Trustee Profession, this section focuses the representativeness of employment equity groups among the candidates who challenged the Oral Board in 2021.
The employment equity groups were fairly well represented in this year’s candidate cohort. Of the 42 candidates, 50% were women and 17% self-identified as visible minorities. In order to protect the confidentiality of the personal information of the candidates who self-identified as persons with disabilities, the percentage is not included. No candidate self-identified as an indigenous person. It is important to note that self-identification with employment equity groups is optional and voluntary.
It is very encouraging to note that a high percentage of candidates were successful. This high success rate supports the conclusion that the candidates felt comfortable taking the examination in a virtual environment. In preparation for the Oral Board of Examination, it is recommended that candidates participate in the Canadian Association of Insolvency and Restructuring Professionals’ Tutorial, which features an OSB information session on the Oral Board Examinations process. It is also recommended that candidates attend the virtual candidate orientation session, which explains in detail the methodology for the Oral Board Examination.
The OSB encourages Oral Board candidates who belong to employment equity groups - that is, women, visible minorities, Indigenous peoples and persons with disabilities - to self-identify and thereby assist the OSB monitor success rates and improve Representativeness in the Licensed Insolvency Trustee profession.