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Latest updated IFSE Institute LLQP Dumps Guide With Interarctive Test Engine & Valid Certification LLQP Book Torrent

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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	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	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 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.

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IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q23-Q28):

NEW QUESTION # 23
Benjamin is a financial security advisor working for the Larson Group. He is following a mandatory compliance training session given by Andrew, the compliance manager. Andrew explains the importance of following the Chambre de la securite financiere code of ethics, and Benjamin would like to know to whom the code of ethics applies.
What is Andrew's CORRECT response?

A. Damage insurance agents and accident and sickness insurance representatives.
B. Financial planners and financial security advisors.
C. Financial security advisors and their administrative assistants.
D. Claims adjusters and group insurance plan advisors.

Answer: B

Explanation:
The Chambre de la securite financiere code of ethics applies specifically to financial security advisors and financial planners in Quebec. This code outlines the professional conduct required of those working within the financial services industry who advise clients on security products. Administrative assistants, claims adjusters, and damage insurance agents do not fall under the purview of the CSF code of ethics as they are regulated under different professional codes or by different oversight organizations.

NEW QUESTION # 24
Francis owns a $250,000 insurance policy with an accidental death and dismemberment (AD&D) rider.
Francis calls his insurance agent Andrew to inform him that he permanently lost the use of his right hand. He explains to Andrew that his brother shot him when he broke into his brother's house to recover a gold watch that was rightfully his. Francis wants to know how much he will receive from his AD&D rider.

A. Francis will receive a benefit of $187,500.
B. Francis will receive a benefit of $250,000.
C. Francis will not receive any benefit.
D. Francis will receive a benefit of $165,000.

Answer: C

Explanation:
Accidental Death and Dismemberment (AD&D) riders typically exclude coverage if the injury ordeath occurs while engaging in criminal activities or illegal acts. Since Francis was injured while breaking into his brother' s house, his actions are considered illegal, and this would void any claim under the AD&D rider. As a result, Francis will not receive any benefitdue to the circumstances surrounding the injury.

NEW QUESTION # 25
Surjit and Rajbir get married in 2010 and Surjit names Rajbir as the irrevocable beneficiary of his life insurance contract. In 2017, the couple divorces amiably and Surjit meets with his insurance representative, Ivan, to review his plans. Surjit tells Ivan that he would like to keep Rajbir as his beneficiary. What should Ivan counsel his client to do?

A. Surjit does not need to do anything as Rajbir is already the named beneficiary.
B. Surjit should name a different beneficiary now that he is divorced.
C. Surjit should once again designate Rajbir as the beneficiary.
D. Surjit cannot make any changes to the policy without Rajbir's consent as she is the irrevocable beneficiary of his policy.

Answer: D

Explanation:
When a beneficiary is designated as irrevocable, the policyholder cannot make changes to the beneficiary designation or make other policy modifications that impact the irrevocable beneficiary's rights without their consent. According to LLQP standards, an irrevocable beneficiary has a vested interest in the policy, and any alterations require their permission.
In this case, Surjit would need Rajbir's consent to change or remove her as the beneficiary, regardless of their divorce. This stipulation upholds the binding nature of an irrevocable designation, ensuring that changes can only be made with the beneficiary's agreement to protect their rights in the policy.

NEW QUESTION # 26
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?

A. Equity fund
B. Dividend fund
C. Index fund
D. Target date fund

Answer: C

Explanation:
Since Caleb is looking for a fund that mirrors the S&P/TSX Composite index, an index fund would be the best choice. Index funds are specifically designed to track the performance of a specific index, providing broad market exposure at a low cost. This aligns with Caleb's objectives of long-term investment with a strategy that matches a known market benchmark, as emphasized in LLQP's sections on investment options.
Other options like equity, dividend, and target date funds do not directly track an index in the way that an index fund does, making them less suitable for Caleb's stated preference.

NEW QUESTION # 27
Nathalie worked for 25 years as an administrative assistant at a manufacturing company. When she left the company 10 years ago, she transferred the money that she accumulated from the company's pension plan into a locked-in retirement account (LIRA). Now she is 60 years of age and would like to withdraw the money from the LIRA.
Under which of the following circumstances would Nathalie be allowed to withdraw her funds?

A. She will start collecting QPP benefits.
B. She is disabled and her life expectancy is reduced.
C. She is retiring.
D. She moved to Arizona last year.

Answer: B

Explanation:
Locked-In Retirement Accounts (LIRAs) are subject to specific restrictions regarding when and how funds can be accessed. Under LLQP regulations, individuals can generally only withdraw funds from a LIRA before retirement under certain circumstances. These include:
* Disability and a reduced life expectancy, as defined by the plan's requirements, which allow for early withdrawal due to significant financial or health hardships.
In contrast:
* Moving to another country, such as Arizona, does not qualify as a reason for early withdrawal under Canadian pension regulations.
* Retirement alone, without converting the LIRA into a Life Income Fund (LIF) or similar product, does not directly permit withdrawals from the LIRA.
* Collecting QPP benefits does not impact the withdrawal conditions of a LIRA directly unless combined with an allowable reason such as disability with reduced life expectancy.
Thus, option B correctly reflects the LLQP criteria under which Nathalie may access her LIRA funds early due to disability and a shortened life expectancy.

NEW QUESTION # 28
......

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Latest updated IFSE Institute LLQP Dumps Guide With Interarctive Test Engine & Valid Certification LLQP Book Torrent

IFSE Institute LLQP Exam Syllabus Topics:

IFSE Institute LLQP Exam Dumps For Ultimate Success 2025

IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q23-Q28):

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Paul White Paul White

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Latest updated IFSE Institute LLQP Dumps Guide With Interarctive Test Engine & Valid Certification LLQP Book Torrent

IFSE Institute LLQP Exam Syllabus Topics:

IFSE Institute LLQP Exam Dumps For Ultimate Success 2025

IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q23-Q28):

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