LLQP RELIABLE TEST BOOK, LLQP TEST ENGINE

LLQP Reliable Test Book, LLQP Test Engine

LLQP Reliable Test Book, LLQP Test Engine

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You will be able to assess your shortcomings and improve gradually without having anything to lose in the actual IFSE Institute LLQP exam. You will sit through mock exams and solve actual IFSE Institute LLQP Dumps. In the end, you will get results that'll improve each time you progress and grasp the concepts of your syllabus.

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Pass Guaranteed LLQP - Reliable Life License Qualification Program (LLQP) Reliable Test Book

The PrepAwayPDF guarantees their customers that if they have prepared with IFSE Institute LLQP practice test, they can pass the IFSE Institute LLQP certification easily. If the applicants fail to do it, they can claim their payment back according to the terms and conditions. Many candidates have prepared from the actual IFSE Institute LLQP Practice Questions and rated them as the best to study for the examination and pass it in a single try with the best score.

IFSE Institute LLQP Exam Syllabus Topics:

TopicDetails
Topic 1
  • 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 2
  • 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 3
  • 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 4
  • 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.

IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q77-Q82):

NEW QUESTION # 77
Zaid married Baheya five years ago in Montreal. A year later, Zaid purchased two individual term-life insurance policies, one on his life and the second on Baheya's life, each with a death benefit of $250,000. The marriage didn't last long, and the couple divorced shortly thereafter. Baheya went on to marry Omar, and the new couple had a baby together, named Darwish.
Last week, Baheya died in a car accident. While settling her estate, Omar discovered that no beneficiary was designated on Baheya's life insurance policy.
To whom will Baheya's death benefit be paid?

  • A. Darwish
  • B. Zaid
  • C. Baheya's succession
  • D. Omar

Answer: C

Explanation:
In the absence of a designated beneficiary, the proceeds of a life insurance policy are generally paid to the estate (succession) of the deceased, in this case, Baheya. Quebec law stipulates that without a specific beneficiary, the policy death benefit becomes part of the deceased's estate and is distributed according to her will or intestate succession laws. Since Baheya did not name a beneficiary, the death benefit will be managed within her estate rather than automatically passing to Zaid, Omar, or their child.


NEW QUESTION # 78
After completing a thorough needs analysis, Dimitri, an insurance agent with Health Assure, recommends that his client Chandler purchase a deferred annuity contract and contribute monthly to a balanced segregated fund to build up savings that Chandler can use as retirement income. Dimitri explains to Chandler that the type of annuity contract he is recommending has two distinct phases.
What are those two phases?

  • A. Accumulation and capitalization.
  • B. Immediate and deferred.
  • C. Accumulation and investment.
  • D. Capitalization and payment.

Answer: C

Explanation:
Deferred annuities have two main phases: the accumulation phase and the investment phase. During the accumulation phase, the client makes contributions to the annuity, which are then invested to grow over time.
Once the accumulation phase ends, the funds can be converted into an income stream during retirement.
Dimitri's recommendation aligns with the structure of a deferred annuity, where Chandler contributes over time (accumulation) before receiving regular payments (investment), often providing a reliable retirement income. The LLQP training material details how deferred annuities offer tax-deferred growth during the accumulation phase, which then transitions into regular income in retirement.


NEW QUESTION # 79
Laekyn purchased an individual disability insurance policy 3 years ago from Awah, her insurance agent.
Today, Awah receives a call from Laekyn, who says she is hospitalized following a suicide attempt. Laekyn says her doctor diagnosed her with bipolar disorder and expects she will be able to return to work in 3 months.
Will Awah be able to help Laekyn receive disability benefits?

  • A. Yes, because Laekyn contacted her as soon as she received her diagnosis.
  • B. Yes, because the event occurred more than 2 years after the policy was purchased.
  • C. No, because she is disabled due to a suicide attempt.
  • D. No, because the minimum waiting period on an individual disability policy is 90 days.

Answer: B

Explanation:
Most individual disability insurance policies include atwo-year incontestability clause, after which the insurer cannot deny claims due to misrepresentations on the application, unless they involve fraud. Since Laekyn's policy was purchased over three years ago, and assuming there was no fraudulent application, she should be eligible for benefits. The fact that her disability is related to a suicide attempt is not an automatic disqualification beyond this period unless specifically excluded by the policy. Therefore, the insurer should process her claim under the standard disability terms of the policy.


NEW QUESTION # 80
Josephine visits her dentist in downtown Victoria, BC, to have a cavity filled. The procedure costs her $550 but the maximum fee for a standard filling, according to the provincial dental schedule, is $400. Josephine works for a company that offers employees group dental coverage with a yearly maximum of $1,000 and an
80% co-insurance factor.
How much will Josephine receive from the insurer for her procedure?

  • A. $320
  • B. $400
  • C. $440
  • D. $0

Answer: A

Explanation:
Josephine's group dental plan pays a percentage (80%) of theprovincial dental schedulefee, not the actual cost. For her filling, the schedule maximum is $400. Therefore, the insurer will cover 80% of $400, which amounts to $320. Although the procedure costs her $550, her coverage only applies to the schedule rate, meaning she will receive $320 from the insurer, while she covers the remainder out of pocket.


NEW QUESTION # 81
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. The $40,000 accumulated in Isaac's whole life insurance policy.
  • B. Isaac's dental practice, started 10 years ago.
  • C. They will not need to separate any assets.
  • 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 # 82
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