New LLQP Exam Test & LLQP Valid Exam Prep

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The IFSE Institute LLQP exam questions are being offered in three different formats. These formats are IFSE Institute LLQP PDF dumps files, desktop practice test software, and web-based practice test software. All these three IFSE Institute LLQP Exam Dumps formats contain the real Life License Qualification Program (LLQP) (LLQP) exam questions that assist you in your LLQP practice exam preparation and finally, you will be confident to pass the final LLQP exam easily.

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	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	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.

>> New LLQP Exam Test <<

LLQP Valid Exam Prep - Detailed LLQP Study Dumps

DumpTorrent believes in customer satisfaction and strives hard to make the entire LLQP exam preparation process simple, smart, and successful. To achieve this objective DumpTorrent is offering the top-rated and real IFSE Institute Certification Exams preparation material in three different IFSE Institute LLQP Exam study material formats. These Life License Qualification Program (LLQP) exam questions formats are LLQP PDF dumps file, desktop practice test software and web-based practice test software.

IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q178-Q183):

NEW QUESTION # 178
Sidney is a professional hockey player that recently purchased a large house and wants to have life insurance coverage to cover the cost. He meets with his life insurance agent, Dave, to determine his need and complete an application. After completing a needs analysis, it is determined he should have $25,000,000 worth of life insurance. Dave makes an application to A-Z Life Insurance Co. for $25,000,000 of permanent life insurance.
The insurance company tells Dave that they have a maximum retention amount of $20,000,000 per policy.
What will happen in Sidney's case?

A. He will have to apply for two different policies with A-Z Life Insurance Co.: Each less than
$20,000,000 but totaling $25,000,000
B. He will have to apply for $20,000,000 worth of coverage with A-Z Life Insurance Co. and $5,000,000 with a reinsurance company.
C. He will have to apply for $25,000,000 worth of coverage with A-Z Life Insurance Co. and they will find a reinsurance company to cover the $5,000,000.
D. He will have to apply for $20,000,000 worth of coverage.

Answer: C

Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
When a life insurer'sretention limitis below the desired coverage, they arrange forreinsurance. The LLQP explains that the insurer can apply for full coverage andautomatically allocate the excess to reinsurers without the client applying separately. This maintains simplicity for the applicant.

NEW QUESTION # 179
The primary and secondary beneficiaries of Rachel and Chad's joint first-to-die permanent life insurance policy are each other and their adult children, respectively. Within a year of Rachel and Chad's divorce, Rachel unexpectedly passes away. The policy beneficiaries remained as originally designated. Whose claim will be paid by the insurer?

A. Chad, as he was designated primary beneficiary.
B. Rachel's parents, as Rachel and Chad were divorced.
C. Chad and the couple's adult children jointly, as they were all designated as beneficiaries.
D. The couple's adult children, as they submitted a claim before Chad.

Answer: A

Explanation:
Comprehensive and Detailed in Depth Explanation with Exact Extract from Documents and Guides:
In a joint first-to-die policy, the death benefit is paid to the surviving insured (primary beneficiary)upon the first death, unless altered. TheIFSE Ethics and Professional Practice Course (Common Law)states that beneficiary designations remain valid unless changed, and divorce does not automatically revoke them in most Canadian common law jurisdictions (unlike some family law contexts). Here, Chad is the primary beneficiary, and the adult children are secondary (contingent) beneficiaries, payable only if Chad predeceased Rachel. Since Rachel died first and the designation wasn't updated post-divorce, Chad receives the benefit.
Joint payment (A) or children claiming first (B) contradicts the primary/secondary structure, and Rachel's parents (D) have no standing. Thus, C is correct.
References:
IFSE Ethics and Professional Practice Course (Common Law), Module 2: Insurance Contracts, Section on
"Beneficiary Designations."

NEW QUESTION # 180
Nine months ago, Osvaldo was instructed by his insurance agent, Jane, to write a cheque to renew his life insurance. Jane put the cheque in her wallet. She lost her wallet the very same day and completely forgot about Osvaldo's payment. Some time later, Osvaldo died in a tragic car accident. His family made a claim for the death benefit, but was denied because the policy had lapsed. Who will have to compensate Osvaldo's family for the loss of death benefit?

A. Jane's errors and omissions coverage.
B. OmbudService for Life & Health Insurance.
C. Jane, using personal assets.
D. The Canadian Council of Insurance Regulators.

Answer: A

Explanation:
Comprehensive and Detailed in Depth Explanation with Exact Extract from Documents and Guides:
TheIFSE Ethics and Professional Practice Course (Common Law)explains that agents must carry Errors and Omissions (E&O) insurance to cover financial losses due to negligence or mistakes. Jane's failure to process Osvaldo's payment, leading to a lapsed policy, is negligence. E&Ocoverage compensates the family for the lost benefit, not Jane's personal assets (A), as it's designed for such errors. The OmbudService (C) mediates disputes but doesn't pay claims, and the Canadian Council of Insurance Regulators (D) coordinates policy, not compensation. Thus, B is correct.
References:
IFSE Ethics and Professional Practice Course (Common Law), Module 1: Ethics and Professionalism, Section on "Errors and Omissions Insurance."

NEW QUESTION # 181
(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 GRRSP are made with money already taxed, while TFSA contributions are deductible.
B. TFSA contributions are deducted from pay each period; GRRSP contributions are made once a year.
C. GRRSP contributions are subject to an annual limit; group TFSA contributions are not.
D. Samuel's contributions to the group TFSA are made with money already taxed, while GRRSP contributions are deductible.

Answer: D

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 # 182
Jordan, a group insurance agent, meets with Nancy, a commercial berry grower in Saskatoon, to renew her company's group insurance plan. When the plan was established four years ago, Nancy had 20 employees.
She now has over 50 employees, many of whom are unhappy with the plan. Jordan wants to rectify this situation to everyone's satisfaction but is not sure how to begin.
Which of the following options indicates the first step that Jordan should take?

A. Cancel the company's group insurance plan.
B. Switch the plan to another insurer.
C. Ensure that the plan is a non-contributory plan.
D. Identify satisfaction levels with support and turnaround time with claims.

Answer: D

Explanation:
When Jordan discovers that many of Nancy's employees are dissatisfied with the current group insurance plan, his first step should be toassess the employees' specific concerns. This includes understanding issues such as satisfaction with customer support and the claims turnaround time. Gathering feedback on these aspects will help Jordan identify the main areas of dissatisfaction and explore targeted solutions to improve the plan. The LLQP materials emphasize the importance of aligning group insurance plans with the needs and satisfaction of the participants, making this an essential step before considering any major changes such as switching insurers or altering the plan's structure.

NEW QUESTION # 183
......

Compared with the education products of the same type, some users only for college students, some only provide for the use of employees, these limitations to some extent, the product covers group, while our LLQP study guide materials absorbed the lesson, it can satisfy the different study period of different cultural levels of the needs of the audience. For example, if you are a college student, you can study and use online resources through the student column of our LLQP learning guide, and you can choose to study our LLQP exam questions in your spare time.

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New LLQP Exam Test & LLQP Valid Exam Prep

IFSE Institute LLQP Exam Syllabus Topics:

LLQP Valid Exam Prep - Detailed LLQP Study Dumps

IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q178-Q183):

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