IFSE Institute LLQP Exam With Confidence Using Practice Dumps

Thematurity guaranteein a segregated fund protects a minimum portion (often 75% or 100%) of the initial investment at maturity, even if high-risk investments underperform. This allows Miles to take risks while having downside protection.

Exact Extract:

"The maturity guarantee protects a minimum portion of the original investment at contract maturity date, even if the underlying investment loses value."

(Reference:Segfunds-E313-2020-12-7ED, Chapter 2.1.1.1 Maturity Guarantee​)

Since Li Jun manages hypertension, a common condition that increases the risk profile, insurers frequently apply apremium rating, meaning higher premiums, due to the elevated health risk. Exclusions are less typical for well-managed chronic conditions, and refusal is unlikely for a single, manageable health issue. Given his overall good health otherwise, the insurer is likely to issue the policy with an increased premium to account for the added risk, as per the LLQP guidelines on underwriting for critical illness insurance​​.

Comprehensive and Detailed In-Depth Explanation: Pension funds from a defined contribution plan, upon leaving employment, must follow Quebec’s Supplemental Pension Plans Act (SPPA) and federal tax rules. The $88,000 is “locked-in,” meaning it cannot be cashed out and must be transferred to a Locked-In Retirement Account (LIRA) to preserve its pension status (SPPA,Section 98). A LIRA restricts access until retirement, when it must be converted into a life annuity or Life Income Fund (LIF) by December 31 of the year the holder turns 71 (Income Tax Act, Section 146). Option D correctly identifies the LIRA and LIF/annuity options. Option A (RRSP) applies to non-locked-in funds, not pension benefits. Option B’s “RRIF” is incorrect, as locked-in funds use a LIF in Quebec. Option C (immediate RRIF withdrawal) violates locking-in rules and age requirements. The Ethics manual requires advisors to clarify locked-in fund rules for clients.