Free PDF Quiz LLQP - Accurate Life License Qualification Program (LLQP) Latest Exam Fee

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Perfect LLQP Latest Exam Fee – 100% Efficient Reliable Life License Qualification Program (LLQP) Real Exam

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IFSE Institute LLQP Exam Syllabus Topics:

Topic	Details
Topic 1	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.
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	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 4	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.

IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q76-Q81):

NEW QUESTION # 76
Diane is an insurance agent working for Gamma Insurance Inc. who is responsible for coaching a newly licensed agent, Wick. Wick has questions about his role, and he would like to know how he should service his clients.
What should Diane tell Wick about what is expected of him?

A. He must fill out the claim forms for his clients.
B. He must contact his clients on a quarterly basis.
C. He must keep detailed notes about the services provided to clients.
D. He must deliver to clients, newly issued policies within 30 days of acceptance.

Answer: C

Explanation:
As an insurance agent,keeping detailed noteson services provided to clients is essential for ensuring compliance, accountability, and providing excellent customer service. Documentation is crucial for record- keeping and allows agents to track interactions and recommendations given to clients. While delivering policies promptly is also part of an agent's duties, maintaining accurate records is fundamental to fulfilling regulatory and ethical obligations as outlined in LLQP guidelines.

NEW QUESTION # 77
Isaac and Natasha, Quebec residents, were married 18 years ago. At the time, they visited a notary to get married under the "separation as to property" matrimonial regime and had indicated their wish to waive the application of the division of the patrimony by agreement. After experiencing a series of personal crises, the couple is now divorcing.
Which of the following assets, if any, will they have to separate when they divorce?

A. They will not need to separate any assets.
B. The $40,000 accumulated in Isaac's whole life insurance policy.
C. Isaac's dental practice, started 10 years ago.
D. Natasha's cottage, purchased with Isaac 15 years ago.

Answer: D

Explanation:
Under Quebec's "separation as to property" regime, each spouse retains ownership of their assets unless joint ownership exists. However, the family patrimony typically mandates the division of certain assets, regardless of marital property regimes, unless waived by mutual consent. As they waived the family patrimony, they are exempt from dividing family assets. However, jointly-owned assets such as the cottage acquired together would require division. Isaac's dental practice and life insurance policy are personal assets and not subject to division as they fall outside jointly-owned property.

NEW QUESTION # 78
Francis owns a $250,000 insurance policy with an accidental death and dismemberment (AD&D) rider.
Francis calls his insurance agent Andrew to inform him that he permanently lost the use of his right hand. He explains to Andrew that his brother shot him when he broke into his brother's house to recover a gold watch that was rightfully his. Francis wants to know how much he will receive from his AD&D rider.

A. Francis will receive a benefit of $250,000.
B. Francis will receive a benefit of $165,000.
C. Francis will not receive any benefit.
D. Francis will receive a benefit of $187,500.

Answer: C

Explanation:
Accidental Death and Dismemberment (AD&D) riders typically exclude coverage if the injury ordeath occurs while engaging in criminal activities or illegal acts. Since Francis was injured while breaking into his brother' s house, his actions are considered illegal, and this would void any claim under the AD&D rider. As a result, Francis will not receive any benefitdue to the circumstances surrounding the injury.

NEW QUESTION # 79
Larson, an insurance agent, meets with Julia, a real estate agent, to review her insurance needs. Julia has $500 in her savings account and does not own a tax-free savings account (TFSA) or registered retirement savings plan (RRSP). She earns an average of $150,000 a year in sales commissions and rental income from two condo units she owns. The combined value of her income properties is $1,000,000, and the mortgage is
$200,000.
Larson recommends that Julia open a TFSA and use it to invest $400 a month in a money market fund.
Which of the following personal risks is Larson trying to mitigate with this advice?

A. Risk of job loss.
B. Risk of unforeseen expenses.
C. Risk of bankruptcy.
D. Risk of leveraging.

Answer: B

Explanation:
Larson's recommendation for Julia to open a TFSA and invest in a money market fund is a strategy aimed at building a readily accessible emergency fund. This fund can help mitigate the risk of unforeseen expenses, which is a common financial risk. According to LLQP principles, creating anemergency fund within a TFSA provides tax-free growth and easy access to funds for unexpected costs, such as repairs, medical expenses, or temporary income loss.
Options A, B, and C are incorrect as they relate to specific risks not directly addressed by the creation of an emergency fund. A TFSA primarily provides liquidity for unexpected expenses rather than addressing job loss, bankruptcy, or leveraging.

NEW QUESTION # 80
Li Jun, 50, applies for a $250,000 critical illness (CI) insurance policy with his insurance agent Ming. On the application, Li Jun states that he must take pills daily to manage his hypertension. Aside from this, his health is good. Given his age and hypertension issue, he is worried that the insurer may refuse his application.
What does Ming CORRECTLY advise him?

A. The policy will likely be issued with a lower benefit.
B. The policy will likely be issued with an exclusion.
C. The policy will likely be denied.
D. The policy will likely be issued with a premium rating.

Answer: D

Explanation:
Since Li Jun manages hypertension, a common condition that increases the risk profile, insurers frequently apply apremium rating, meaning higher premiums, due to the elevated health risk. Exclusions are less typical for well-managed chronic conditions, and refusal is unlikely for a single, manageable health issue.
Given his overall good health otherwise, the insurer is likely to issue the policy with an increased premium to account for the added risk, as per the LLQP guidelines on underwriting for critical illness insurance.

NEW QUESTION # 81
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Free PDF Quiz LLQP - Accurate Life License Qualification Program (LLQP) Latest Exam Fee

Perfect LLQP Latest Exam Fee – 100% Efficient Reliable Life License Qualification Program (LLQP) Real Exam

IFSE Institute LLQP Exam Syllabus Topics:

IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q76-Q81):

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