HOT LLQP LATEST REAL EXAM - HOW TO PREPARE FOR IFSE INSTITUTE LLQP EXAM

Hot LLQP Latest Real Exam - How to Prepare for IFSE Institute LLQP Exam

Hot LLQP Latest Real Exam - How to Prepare for IFSE Institute LLQP Exam

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Tags: LLQP Latest Real Exam, Reliable LLQP Exam Prep, LLQP Pass Test, LLQP Exam Revision Plan, LLQP 100% Correct Answers

Practice is one of the essential factors in passing the exam. To perform at their best on the real exam, candidates must use IFSE Institute LLQP practice test material. To this end, LLQP has developed three formats to help candidates prepare for their LLQP exam: desktop-based practice test software, web-based practice test, and a PDF format.

IFSE Institute LLQP Exam Syllabus Topics:

TopicDetails
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
  • 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 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
  • 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.

>> LLQP Latest Real Exam <<

Reliable LLQP Exam Prep, LLQP Pass Test

We all know that the LLQP exam is not easy to pass and the certification is not easy to get. But where is a will, there is a way. if you are really determined, go buy LLQP study materials now. With the help of LLQP learning guide, your road will go more smoothly. If you want to know more about our products, maybe you can use the trial version of LLQP simulating exam first. Of course, you can also spend a few minutes looking at the feedbacks to see how popular our LLQP exam questions are.

IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q14-Q19):

NEW QUESTION # 14
Kimeni meets with Orion, an insurance agent, to purchase segregated funds. After assessing Kimeni's needs, Orion suggests an index segregated fund. Kimeni agrees to invest $5,000 in the fund now and $200 every month.
With relation to this transaction, which of the following options is CORRECT about the Fund Facts document?

  • A. Orion must deliver the document to Kimeni within 3 days after the purchase.
  • B. Orion can only deliver the document to Kimeni electronically.
  • C. Kimeni must acknowledge that he received the document.
  • D. It is Kimeni's responsibility to ask for the document.

Answer: C

Explanation:
It is a regulatory requirement for the client, Kimeni, to acknowledge receipt of the Fund Facts document when purchasing segregated funds. This ensures that he has been informed about the key aspects of the investment, such as fees, risks, and performance, prior to purchase. LLQP guidelines mandate that documentation like Fund Facts must be provided to clients and that they acknowledge receipt to confirm informed consent.
Option A is incorrect as the document must be delivered before the purchase. Option C is inaccurate as the document can be delivered in various formats, not exclusively electronic. Option D is incorrect because it is the agent's responsibility to provide the document, not the client's to request it.


NEW QUESTION # 15
Konrad is the owner of CrossBoy, a manufacturing company employing over 50 employees. Konrad recently took out a $500,000 loan to expand his business. Terrence works as a sales manager and is responsible for roughly 40% of the company's revenue. Konrad recognizes the importance of Terrence's contributions to the success of the company. Therefore, in addition to a sizeable basesalary, CrossBoy also pays Terrence regular performance-based bonuses. Konrad understands that if Terrence dies prematurely, CrossBoy would suffer financially. What should he do to protect his company?

  • A. Offer Terrence group life insurance plan.
  • B. Purchase criss-cross insurance with Terrence.
  • C. Purchase key person life insurance on Terrence.
  • D. Purchase business-owned buy-agreement with Terrence.

Answer: C

Explanation:
Key person life insurance is designed to protect a business from financial losses resulting from the death of a key employee. In this case, Terrence's role is crucial to CrossBoy's success due to his substantial contribution to the company's revenue. By purchasing key person insurance on Terrence, Konrad can ensure that the company has the necessary funds to cover the financial impact of Terrence's potential loss. Other options, like offering a group life insurance plan (A), do not directly address the specific financial risk associated with the loss of a key employee.Therefore,Option Cis the appropriate choice.


NEW QUESTION # 16
Andre, an insurance agent, meets with his client Jasper to discuss his $150,000 whole life insurance policy.
Jasper is deeply indebted and needs at least $40,000 to cover his debt. Andre tells him about a company he knows that will be willing to give him $75,000 if he assigns his policy to them. Did Andre act appropriately?

  • A. No, because trafficking in insurance is discouraged by the insurance industry.
  • B. Yes, as long as this practice is not illegal in his province of residence.
  • C. Yes, because he is helping his client pay off his debt.
  • D. No, because Jasper is not allowed to assign his policy to an arms-length entity.

Answer: A

Explanation:
The practice of trafficking in insurance involves selling or assigning a life insurance policy to a third party, often at a discounted rate, which is typically discouraged within the insurance industry due to ethical concerns and potential misuse. The LLQP materials warn against such practices as they can be perceived as exploiting insurance contracts for profit, rather than for their intended purpose of providing financial security. Therefore, Andre acted inappropriately by suggesting this arrangement without considering the ethical implications.


NEW QUESTION # 17
Xander fills out a life insurance application to purchase a $75,000 policy. The policy is accepted by the insurer and delivered to him on March 3. He pays the first month's premium upon receipt of the policy.
Unfortunately, on March 9, Xander loses his job and decides that he no longer wants the policy. What will be the consequence of this cancellation?

  • A. Xander will not be allowed to cancel the policy because he already accepted it.
  • B. Xander's policy will be cancelled, but he will not receive any premium refund.
  • C. Xander's policy will be cancelled, and he will receive a full premium refund.
  • D. Xander will be obligated to reinstate the policy once he finds new employment.

Answer: C

Explanation:
Life insurance policies in copyright generally include a "free look" or "cooling-off" period, typically lasting 10 days from the delivery date, during which the policyholder can cancel the policy for a full refund of any premiums paid. Since Xander requested the cancellation within this period, he will be entitled to a full refund.
This period allows policyholders to review the terms and make a final decision without financial penalty.


NEW QUESTION # 18
Jessica is 61 years old and has $460,000 invested in a registered retirement savings plan (RRSP). She is retiring due to health issues that are expected to reduce her life expectancy and will prevent her from working until she is 65. She would like to transfer her RRSP funds into an annuity that will pay her monthly benefits for the rest of her life.
Which of the following annuities is the BEST option for her to purchase?

  • A. Impaired life annuity.
  • B. Term annuity to age 90.
  • C. Life annuity with a 20-year guaranteed period.
  • D. Life annuity.

Answer: A

Explanation:
Due to Jessica's reduced life expectancy, an impaired life annuity would provide higher monthlypayments than a standard life annuity. This type of annuity takes her medical condition into account, offering larger payouts based on a shorter expected payment period. LLQP resources recommend impaired life annuities for individuals with significant health issues, as these provide better income compared to other types.
Options A and C offer a fixed period but don't maximize monthly income for someone with a reduced life expectancy. Option B would provide a standard income for life but not the potentially enhanced income from an impaired annuity.


NEW QUESTION # 19
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IFSE Institute LLQP practice test software contains many IFSE Institute LLQP practice exam designs just like the real Life License Qualification Program (LLQP) (LLQP) exam. These LLQP practice exams contain all the LLQP questions that clearly and completely elaborate on the difficulties and hurdles you will face in the final LLQP Exam. Life License Qualification Program (LLQP) (LLQP) practice test is customizable so that you can change the timings of each session. PracticeVCE desktop IFSE Institute LLQP practice test questions software is only compatible with windows and easy to use for everyone.

Reliable LLQP Exam Prep: https://www.practicevce.com/IFSE-Institute/LLQP-practice-exam-dumps.html

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