At least in BC I had to give them my title, even though it's only under temporarily import. I am not sure if they are expected to give the title back or not later on... but I guess they didn't do any transfer title since I was able to get a duplicate title issued from the original state.
In BC the sheet of paper they give you is a combination insurance + title or something like that, at least that was their explanation. I tried to fill out a form 1 and submit give it to one of the border agents processing my work permit (I applied at the border), he said it was the wrong form and gave me the correct one to fill out. Unfortunately I can't remember what form that was.
By the way if you want to save on insurance you need to submit proof that you have a long driving history. In my case I gave them a really old driver's license, my first one from when I was a teenager. They kept it.
