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IFSE Institute LLQP Exam Syllabus Topics:

Topic	Details
Topic 1	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 2	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 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.

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IFSE Institute LLQP Exam Questions - Proven Way Of Quick Preparation

In today's highly competitive IFSE Institute market, having the LLQP certification is essential to propel your career forward. To earn the IFSE Institute LLQP certification, you must successfully pass the LLQP Exam. However, preparing for the IFSE Institute LLQP exam can be challenging, with potential hurdles like exam anxiety and time constraints.

IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q128-Q133):

NEW QUESTION # 128
(Ted purchased an IVIC 10 years ago. His original deposit was $10,000. The current market value is
$15,500 at maturity.
What will the new maturity guarantee be?)

A. $11,625, and the new maturity date will depend on Ted's age.
B. $15,500, and the new maturity date will depend on Ted's age.
C. $12,000, with the new maturity date set 10 years from now.
D. $10,000, with the new maturity date set 10 years from now.

Answer: B

Explanation:
Upon maturity,the new guarantee becomes the current market value, andthe new maturity date is based on contract terms, often depending on the ageof the client or a specific reset term.
Exact Extract:
"When a segregated fund contract matures, the new guarantee is based on the current market value, and a new maturity date is set according to the client's age or the insurer's terms." (Reference:Segfunds-E313-2020-12-7ED, Chapter 2.1.2 Growth Secured by Reset#45:0†Segfunds-E313-
2020-12-7ED.pdf**)

NEW QUESTION # 129
Eloise has critical illness coverage through her group insurance plan at work. She is 54 years old, in excellent health, and is planning to retire soon. She meets with Sonia, her insurance agent, to plan her retirement and to make sure she will still be covered in the event of critical illness. To make sure she is not a burden on her family, Eloise would also like to receive monthly benefits in the event she is placed in an assisted living facility. What should Sonia tell her?

A. That the critical illness coverage under her group plan is the least expensive and that the insurer will have to give her the option of converting it into individual insurance when she retires.
B. That when she retires, she should purchase individual disability insurance, which would give herthe coverage required in the event of critical illness.
C. That her critical illness coverage will end when she retires and that she should consider purchasing individual critical illness and long-term care insurance.
D. That the critical illness coverage under her group plan will end when she retires and that she should consider purchasing individual coverage.

Answer: C

Explanation:
Comprehensive and Detailed Explanation:
Group critical illness (CI) coverage typically ends upon retirement unless a conversion option is explicitly offered, which is rare (Chapter 8:Group Plan Specifics). Eloise needs CI for lump-sum protection and long- term care (LTC) insurance for monthly benefits in an assisted living facility (Chapter 4:Insurance to Protect Savings).
Option A: Incorrect; group CI rarely converts to individual CI, and it doesn't address LTC needs.
Option B: Partially correct but incomplete; it misses LTC for assisted living.
Option C: Correct; CI ends at retirement, requiring individual CI, and LTC insurance meets her assisted living goal.
Option D: Incorrect; disability insurance replaces income, not CI or LTC benefits.
Reference: LLQP Accident and Sickness Insurance Manual, Chapter 4:Insurance to Protect Savings, Chapter
8:Group Plan Specifics.

NEW QUESTION # 130
Kevin owns a construction business and wants to take out accident and sickness insurance to protect his income in the event of disability. On his application form, he indicated that he had competed in motocross races over the past five years. What requirements does Kevin need to comply with before the insurer can issue the policy?

A. Kevin only needs to specify how often he engages in the sporting activity.
B. Kevin needs to complete a special questionnaire, as well as specify how often he engages or intends to engage in the sporting activity in the future.
C. Kevin needs to complete a special questionnaire as well as specify how often he engages or intends to engage in the sporting activity in the future; thus, an exclusion rider may be required by the insurer.
D. Kevin only needs to answer the medical questions.

Answer: C

Explanation:
Comprehensive and Detailed Explanation:
Motocross is high-risk, requiring a detailed questionnaire and frequency disclosure. Insurers may impose an exclusion rider (Chapter 7:Insurance Recommendation, Contract, and Service Needs).
Option A: Incorrect; misses activity risk.
Option B: Incomplete; lacks detail.
Option C: Incomplete; misses exclusion possibility.
Option D: Correct; full process with potential rider.
Reference: LLQP Accident and Sickness Insurance Manual, Chapter 7:Insurance Recommendation, Contract, and Service Needs.

NEW QUESTION # 131
(Jorge meets with his new financial advisor. He brought a series of documents so that she can determine his investor profile.
Which of the following documents will not be helpful for determining Jorge's investor profile?)

A. His copyright.
B. A summary of his needs and objectives.
C. A list of his income sources during retirement.
D. His net worth statement, listing assets and liabilities.

Answer: A

Explanation:
A copyright is used for identity verification, not for determining investment goals, risk tolerance, or financial needs. An investor profile is built from documents that demonstrate financial assets, liabilities, income, and personal objectives.
Exact Extract:
"Information used to determine an investor profile includes assets, liabilities, income, investment objectives, and risk tolerance. Identification documents like copyright are not relevant to determining investment needs." (Reference:Segfunds-E313-2020-12-7ED, Chapter 4.1 Financial Situation of the Investor)

NEW QUESTION # 132
Edward and Shirley initiated a whole life insurance application for their daughter Christine when she was 15 years of age. As Christine was a student with limited income at the time, the agent set Edward and Shirley jointly as owning and paying the premiums of this policy. Edward was designated beneficiary. Who is the policyholder?

A. Edward and Shirley, as they are designated owners of the policy.
B. Edward and Shirley, as they are paying the premiums.
C. Edward, as he is the designated beneficiary.
D. Christine, as she is the life insured.

Answer: A

Explanation:
Comprehensive and Detailed in Depth Explanation with Exact Extract from Documents and Guides:
In insurance terminology, the policyholder (or policy owner) is the person or entity that owns the insurance contract and has the legal rights to make decisions about it, such as changing beneficiaries or cancelling the policy. TheIFSE Ethics and Professional Practice Course (Common Law)clearly distinguishes between the life insured (the person whose life is covered), the beneficiary (who receives the death benefit), and the policy owner. In this case, Edward and Shirley are explicitly designated as the joint owners of the policy, not merely premium payers. Christine, as the insured, has no ownership rights unless specified, and Edward's status as beneficiary does not confer ownership. Paying premiums does not automatically make someone the policyholder unless they are also the designated owner. Therefore, option D is correct.
References:
IFSE Ethics and Professional Practice Course (Common Law), Module 2: Insurance Contracts, Section on
"Policy Ownership and Roles."

NEW QUESTION # 133
......

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VALID LLQP EXAM TEST | LLQP AUTHENTIC EXAM QUESTIONS

Valid LLQP Exam Test | LLQP Authentic Exam Questions