Io Brain

Jay Cook Jay Cook

0 Course Enrolled • 0 Course Completed

Biography

LLQP Study Materials: Life License Qualification Program (LLQP) - LLQP Actual Questions & LLQP Quiz Guide

Using actual Life License Qualification Program (LLQP) (LLQP) dumps PDF is the best way to make your spare time useful for the LLQP test preparation. We also provide you with customizable desktop IFSE Institute LLQP practice test software and web-based IFSE Institute LLQP Practice Exam. You can adjust timings and LLQP questions number of our LLQP practice exams according to your training needs.

IFSE Institute LLQP Exam Syllabus Topics:

Topic
Details

Topic 1

Life Insurance: This section assesses the expertise of insurance professionals, including financial advisors and life insurance agents, in understanding the financial impact of death. It explains how life insurance helps address those financial needs and introduces various life insurance products, along with their features and benefits.

Topic 2

Accident and Sickness Insurance: Aimed at insurance professionals offering individual and group health insurance, this section emphasizes the importance of financial protection in the case of serious illness or injury.

Topic 3

Segregated Funds and Annuities: Targeted at investment advisors and financial planners, this section evaluates their understanding of saving and investment strategies, which are essential for retirement and financial planning.

Topic 4

Ethics and Professional Practice: This part of the exam focuses on the legal and ethical responsibilities of life insurance professionals. It outlines the legal framework for life insurance in common law provinces and territories and stresses the importance of maintaining professionalism.

>> Certification LLQP Cost <<

Exam LLQP Quizzes | LLQP Official Practice Test

If you want to pass a high percentage of the IFSE Institute LLQP Exam, you should consider studying for the actual exam. These practice tests are designed to help you prepare for the exam and ensure you know the syllabus content. It will also help you improve your time management skills, as these tests are designed like an actual exam. Moreover, they will help you learn to answer all questions in the time allowed.

IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q34-Q39):

NEW QUESTION # 34
Leanna has an accidental death and dismemberment policy for $175,000 that she purchased through Leo, her financial advisor, four years ago. Leanna works as a heavy-duty mechanic at a local diesel mechanic shop in town. Leanna was in a tragic accident that involved a hoist issue which resulted in the loss of one of her legs.
How much benefit will Leanna receive when she makes a claim?

A. $131,250
B. $116,725
C. $175,000
D. $87,500

Answer: D

Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
AD&D policies typically pay50% of the policy valuefor the loss of one limb. Therefore, $175,000 × 50% =
$87,500. The LLQP outlines thatfull benefits are for death or multiple limb loss, while partial payouts apply to single dismemberments.

NEW QUESTION # 35
Goran and Tanja married two years ago. Last year, they purchased and moved into a three-bedroom house in the suburbs. The current balance on their mortgage is $655,000. They meet with Ljubomir, an insurance agent, to purchase a joint term life insurance policy to cover the mortgage. When Ljubomir asks about their existing coverage, Goran shares that he has none. Tanja explains that she owns a universal life (UL) policy with a level death benefit of $50,000 and a cash surrender value (CSV) of $5,000, purchased 6 years ago from another agent. Tanja would like to surrender her UL policy and use the $5,000 CSV to pay for a trip to Europe. What additional information about Tanja's UL policy does Ljubomir need to collect?

A. The adjusted cost basis (ACB) and surrender charges of the policy's CSV.
B. The premiums upon renewal.
C. The dividends and paid-up additions.
D. The investment vehicle of the policy's CSV.

Answer: A

Explanation:
When considering surrendering a universal life (UL) policy, it is essential to understand the tax implications and any costs associated with surrender. Theadjusted cost basis (ACB)helps determine the taxable portion of the policy's cash surrender value (CSV) because any amount received above the ACB may be subject to tax.
Additionally,surrender chargescould reduce the CSV received upon surrender. Therefore, Ljubomir needs to collect both the ACB and any surrender charges applicable to Tanja's policy. These factors will help Tanja make an informed decision regarding the net amount she would receive from surrendering the policy and the potential tax liability.

NEW QUESTION # 36
(Samuel works for a major company offering a GRRSP and a group TFSA.
How do Samuel's contributions to the GRRSP differ from his contributions to the group TFSA?)

A. Samuel's contributions to the group TFSA are made with money already taxed, while GRRSP contributions are deductible.
B. GRRSP contributions are subject to an annual limit; group TFSA contributions are not.
C. TFSA contributions are deducted from pay each period; GRRSP contributions are made once a year.
D. Samuel's contributions to the GRRSP are made with money already taxed, while TFSA contributions are deductible.

Answer: A

Explanation:
Group TFSA contributionsare made withafter-tax moneyand grow tax-free.GRRSP contributionsreduce taxable income immediately because they aretax-deductible.
Exact Extract:
"Contributions to a TFSA are not deductible and must be made with after-tax dollars. RRSP (andGRRSP) contributions are tax-deductible, reducing taxable income." (Reference:Segfunds-E313-2020-12-7ED, Chapter 1.3.11 Group Plans)

NEW QUESTION # 37
Marietta receives a summons from the syndic of the CSF regarding an investigation into her associate. The summons was delivered to her office on May 2 and she took notice of it on May 4. The summons requires her to receive the syndic representative at her office on May 19 at 8:30 a.m. Marietta has already planned for and reserved a week off for a vacation abroad from May 15 to 22. She immediately emails the syndic representative to inform him that she will be out of the country and cannot be present on the 19th. She proposes meeting on the 14th or the 23rd ofthe same month. Pursuant to the Code of Ethics of the Chambre de la securite financiere, which duties or obligations has Marietta breached?

A. She has breached her duties toward the client
B. She has not breached the Code of Ethics
C. She has breached her obligations toward other representatives, firms, independent partnerships, insurers, and financial companies
D. She has breached her duties toward the profession

Answer: B

Explanation:
Comprehensive and Detailed In-Depth Explanation: The CSF Code of Ethics (Section 7) requires cooperation with the syndic during investigations, including attending scheduled meetings. However, Marietta's prior vacation and prompt communication proposing alternative dates demonstrate reasonable effort to comply, not defiance. Option A is correct-she has not breached the Code, as flexibility is allowed if justified and communicated. Option B (other professionals) is irrelevant, as no duty to them is implicated. Option C (client) doesn't apply, as no client is involved. Option D (profession) could arise if she ignored the summons, but her proactive response avoids this. The Ethics manual supports cooperation with regulators while acknowledging practical constraints.
References: CSF Code of Ethics, Section 7; Ethics and Professional Practice (Civil Law) Manual, Section on Regulatory Cooperation.

NEW QUESTION # 38
Three years ago, Douglas purchased a whole life insurance policy with numerous supplementary benefits and riders. Today, he meets with his doctor who informs him that he has late-stage colon cancer and has only a few months to live. Even with surgery, his chances of survival are low. Douglas calls his insurance agent, Penny, to ask her what he should do to obtain a benefit immediately.

A. Terminal illness benefit.
B. Policy withdrawal.
C. Policy loan.
D. Dread disease benefit.

Answer: A

Explanation:
TheTerminal Illness Benefit(also known as an accelerated death benefit) allows a policyholder diagnosed with a terminal illness to receive a portion of the policy's death benefit while still alive. This benefit is designed specifically for situations like Douglas's, where he has a limited life expectancy and needs immediate funds.
While the Dread Disease Benefit (Option A) covers specific critical illnesses, it is generally not as expansive as the terminal illness benefit, whichdirectly applies to Douglas's prognosis. Options C and D involve accessing cash values or loans, which are not immediate death benefit payouts.

NEW QUESTION # 39
......

Pass4SureQuiz provides one of the most comprehensive and high-quality Life License Qualification Program (LLQP) Exam Questions. We cut through the nonsense and made Life License Qualification Program (LLQP) exam preparation useful, to get your Life License Qualification Program (LLQP) certification on the first try. Our Life License Qualification Program (LLQP) LLQP Questions include real-world questions that will help you learn the fundamentals of the topic not only for the Life License Qualification Program (LLQP) LLQP exam but also for your future profession.

Exam LLQP Quizzes: https://www.pass4surequiz.com/LLQP-exam-quiz.html

Untitled Campaign

Jay Cook Jay Cook

Biography

Home

About Us

Project Hub

Gallery

contact us

Phone

Address

Quick Links

Contact Us