QUIZ LLQP - AUTHORITATIVE ADVANCED LIFE LICENSE QUALIFICATION PROGRAM (LLQP) TESTING ENGINE

Quiz LLQP - Authoritative Advanced Life License Qualification Program (LLQP) Testing Engine

Quiz LLQP - Authoritative Advanced Life License Qualification Program (LLQP) Testing Engine

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Tags: Advanced LLQP Testing Engine, Latest LLQP Test Format, Valid LLQP Exam Objectives, LLQP Dump Check, LLQP Study Guides

The majority of people encounter the issue of finding extraordinary IFSE Institute LLQP exam dumps that can help them prepare for the actual Life License Qualification Program (LLQP) exam. They strive to locate authentic and up-to-date IFSE Institute LLQP Practice Questions for the IFSE Institute LLQP exam, which is a tough ask.

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IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q157-Q162):

NEW QUESTION # 157
Paula is a business owner and likes to make important decisions herself. Her business is very successful and she has lots of disposable income. She has a self-direct investment account where she chooses the investment herself. However, despite doing some researches on investment, her own portfolio ends up with major losses.
She just gave birth to a new born baby and would like to have some life insurance coverage for her children's expense in the event of her death. She wants a plan that can provide additional coverage over time and allows her to cover the effect of inflation as well, as she has lost confidence on making investment decisions.
What insurance plan can fit Paula's need?

  • A. Whole life with PUA rider
  • B. Universal life with YRT with maximum funding option
  • C. Universal life with LCOI with minimum funding option
  • D. Whole life with GIB rider

Answer: A

Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
Whole life with Paid-Up Additions (PUA) riderallows the policy to grow coverage over time, addressing inflation and providing stable guaranteed values. PUA also removes the need forinvestment decisions, aligning with Paula's new financial preferences. LLQP identifies this structure as ideal for inflation-protected and predictable growth.


NEW QUESTION # 158
Alexandre has just become a father. He wishes to take out a life insurance policy from Antoine, an insurance of persons representative. During their meeting, Alexandre mentions his love of mountain climbing. What should Antoine do?

  • A. Warn Alexandre that no insurer covers activities such as mountain climbing, which are considered legal exclusions under the Civil Code of Quebec
  • B. Check and explain the policy's exclusion clauses, because the insurer could turn down the claim if Alexandre dies while mountain climbing
  • C. Specify that the Charter of Human Rights and Freedoms only allows exclusions based on age, gender, or civil status in insurance contracts
  • D. Explain only the insurance policy's general coverage clauses

Answer: B

Explanation:
Comprehensive and Detailed In-Depth Explanation: Antoine's duty as an insurance representative, per the Distribution Act (Sections 16-18) and Civil Code (Article 2408), includes assessing Alexandre's risk profile and explaining policy terms, especially exclusions. Mountain climbing is a high-risk activity that many insurers exclude or restrict, but this is not a blanket legal exclusion under the Civil Code (contrary to option A). Option B is correct: Antoine must review the specific policy's exclusion clauses and inform Alexandre that a claim could be denied if death occurs during mountain climbing, ensuring informed consent. Option C misinterprets the Quebec Charter (Sections 10-20), which prohibits discrimination but allows insurers to set risk-based exclusions (private contract freedom, Article 1378). Option D neglects Antoine's obligation to disclose material exclusions, risking misrepresentation. The Ethics and Professional Practice manual mandates full disclosure of risks and exclusions to copyright client trust and compliance.
References: Distribution Act, Sections 16-18; Civil Code of Quebec, Article 2408; Quebec Charter, Sections
10-20; Ethics and Professional Practice (Civil Law) Manual, Section on Disclosure Duties.


NEW QUESTION # 159
Leonard and Ashley, a couple in their early 30s, meet with Howard, an insurance agent, to review their investment needs. Leonard earns $60,000 a year as a research physicist, and Ashley earns $25,000 as an actress. They each have $3,000 in their respective chequing accounts. Leonard also has $40,000 invested in his group registered retirement savings plan (RRSP). Ashley has a Subaru WRX worth $20,000 with a car loan of $10,000. Leonard does not own a car, but he has an outstanding student loan of $30,000.
What is the couple's net worth?

  • A. $23,000
  • B. $111,000
  • C. $56,000
  • D. $26,000

Answer: D

Explanation:
To calculate net worth, we sum the couple's assets and subtract their liabilities. The calculation is as follows:
Assets:
Leonard's chequing account: $3,000
Ashley's chequing account: $3,000
Leonard's group RRSP: $40,000
Ashley's car (Subaru WRX): $20,000
Total Assets:$66,000
Liabilities:
Ashley's car loan: $10,000
Leonard's student loan: $30,000
Total Liabilities:$40,000
Net Worth Calculation:
$66,000 (Assets) - $40,000 (Liabilities) = $26,000
The couple's net worth is therefore $26,000, which aligns with LLQP methodologies for net worth calculations by considering all assets minus liabilities.


NEW QUESTION # 160
Angela works in a biomedical research lab where she has been assigned to discover possible antidotes to the anthrax virus. While the discovery process of testing possible antidotes would expose her to the deadly virus, she is excited about the assignment.
Knowing that anthrax can be contracted through infected food, air or contact with skin, what risk management strategy would Angela employ by wearing protective gear over her mouth and skin?

  • A. Risk retention.
  • B. Risk transfer.
  • C. Risk reduction.
  • D. Risk avoidance.

Answer: C

Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
Angela is using protective gear to minimize exposure to a known hazard. This is a textbook example of risk reduction, which involves implementing safety measures to lower the probability or impact of a loss. LLQP classifies risk strategies into avoidance, retention, transfer, and reduction-each with distinct characteristics.
Wearing gear does not eliminate the risk but reduces it significantly.
Reference: Insurance Study Guides Chinese.pdf, Risk Management - Types of Risk Strategies


NEW QUESTION # 161
Ben and Pam, both aged 37, are married with three young triplets, Lucas, Jack, and William. Ben works as a pharmaceutical rep, and Pam is a stay-at-home mom. Ben's monthly salary is $6,000. An unforeseen accident happening, where Ben were to die, would leave Pam and the kids in serious financial trouble. Ben and Pam want to address this, so they meet with a licensed life insurance agent to discuss purchasing a life insurance policy. The agent, assuming an interest rate of 4%, shows Ben and Pam the capitalized value of his lost income.
Based on the above information, using the income replacement approach, how much life insurance does Ben need?

  • A. $72,000
  • B. $1,800,000
  • C. $720,000
  • D. $150,000

Answer: B

Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
Using theincome replacement method:
Annual income = $6,000 × 12 = $72,000
Capitalized value at 4% = $72,000 ÷ 0.04 =$1,800,000
The LLQP guide confirms this formula for calculating the present value of future income needed for full replacement.
Reference: Insurance Study Guides Chinese.pdf, Income Replacement Approach - Present Value Formula


NEW QUESTION # 162
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