Free IFSE Institute LLQP Exam Questions
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IFSE Institute LLQP Exam Questions
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Provided By: IFSE Institute
- Exam: Life License Qualification Program (LLQP) Certification
- Certification: IFSE Certification
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Total Questions: 150
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Updated On: Jan 28, 2025
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Rated: 4.9 |
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Online Users: 300
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Question 1
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Paulette earns a modest income working as a delivery driver for FastFlowers Inc. in Quebec. Theflorist company has over 80 employees, 20 of whom are delivery drivers. The employees benefitfrom a group short- and long-term disability plan. One morning, while delivering flowers, Paulette'struck is struck by a bus. Paulette is taken to the hospital, where a doctor deems that she will beunable to work for at least 4 months. Paulette contacts Jade, the human resources manager, to askher who will pay her disability benefits.Which of the following answers is CORRECT?
Answer: B
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Paulette earns a modest income working as a delivery driver for FastFlowers Inc. in Quebec. Theflorist company has over 80 employees, 20 of whom are delivery drivers. The employees benefitfrom a group short- and long-term disability plan. One morning, while delivering flowers, Paulette'struck is struck by a bus. Paulette is taken to the hospital, where a doctor deems that she will beunable to work for at least 4 months. Paulette contacts Jade, the human resources manager, to askher who will pay her disability benefits.Which of the following answers is CORRECT?
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Question 2
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Ten years ago, Anastasia purchased a $125,000 10-year term renewable life insurance policy. Her
insurance need has not changed, and she is still in good health. She asks her insurance agent Raphael
what she should do.
Answer: B
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Ten years ago, Anastasia purchased a $125,000 10-year term renewable life insurance policy. Her
insurance need has not changed, and she is still in good health. She asks her insurance agent Raphael
what she should do.
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Question 3
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Dominic suffers a heart attack on October 1 and dies a little over a month later, on November 7. Atthe time of his death, he owned a $150,000 critical illness (CI) insurance policy, purchased 10 yearsearlier. Dominic never failed to pay the $100 monthly premium. When he died, the insurer had notyet issued the benefit payment.How will the CI benefit be treated?
Answer: A
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Dominic suffers a heart attack on October 1 and dies a little over a month later, on November 7. Atthe time of his death, he owned a $150,000 critical illness (CI) insurance policy, purchased 10 yearsearlier. Dominic never failed to pay the $100 monthly premium. When he died, the insurer had notyet issued the benefit payment.How will the CI benefit be treated?
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Question 4
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Harold is a 66-year-old retired school bus mechanic. He receives $900 a month from his definedbenefit pension plan (DBPP). His husband Karl is also retired and receives his own pension benefit.Harold would like to know the minimum monthly pension benefit from his DBPP that Karl will receive upon Harold's death.
Answer: A
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Harold is a 66-year-old retired school bus mechanic. He receives $900 a month from his definedbenefit pension plan (DBPP). His husband Karl is also retired and receives his own pension benefit.Harold would like to know the minimum monthly pension benefit from his DBPP that Karl will receive upon Harold's death.
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Question 5
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Caleb meets with Miles, his insurance agent, to invest for his retirement. Caleb tells Miles that he
will not need his funds for the next 25 years, he is comfortable with market fluctuations, and he
would like a fund that mimics the S&P/TSX Composite index.
Which of the following funds will best suit Caleb's needs?
Answer: D
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Caleb meets with Miles, his insurance agent, to invest for his retirement. Caleb tells Miles that he
will not need his funds for the next 25 years, he is comfortable with market fluctuations, and he
would like a fund that mimics the S&P/TSX Composite index.
Which of the following funds will best suit Caleb's needs?