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IFSE Institute LLQP Exam With Confidence Using Practice Dumps

Exam Code:
LLQP
Exam Name:
Life License Qualification Program (LLQP)
Certification:
Life License Qualification Program
Vendor:
IFSE Institute
Questions:
298
Last Updated:
Jul 13, 2025
Exam Status:
Stable
IFSE Institute LLQP

LLQP: Life License Qualification Program Exam 2025 Study Guide Pdf and Test Engine

Are you worried about passing the IFSE Institute LLQP (Life License Qualification Program (LLQP)) exam? Download the most recent IFSE Institute LLQP braindumps with answers that are 100% real. After downloading the IFSE Institute LLQP exam dumps training , you can receive 99 days of free updates, making this website one of the best options to save additional money. In order to help you prepare for the IFSE Institute LLQP exam questions and verified answers by IT certified experts, CertsTopics has put together a complete collection of dumps questions and answers. To help you prepare and pass the IFSE Institute LLQP exam on your first attempt, we have compiled actual exam questions and their answers. 

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Life License Qualification Program (LLQP) Questions and Answers

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Question 1

Andrea, owner of Andrea’s Fashions Inc., employs her designer daughter Judy, who will carry on the business after Andrea is gone. Wishing to ensure that the business would not suffer financially when Andrea passes away, Andrea decides at age 50 to have her business own, pay for, and be the beneficiary of life insurance on Andrea's life. The type of insurance that best suits is non-convertible Term 10 life insurance renewable until age 80.

What should her life insurance agent advise regarding this policy?

Options:

A.

The coverage will end at Andrea’s age 80.

B.

The coverage can be converted to permanent insurance at any time.

C.

The coverage can only be renewed once.

D.

The coverage will pay a benefit to Judy upon Andrea's death.

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Question 2

Emma, an employee at MagicLand, is part of the company's group registered retirement savings plan (RRSP). During her tenure, she accumulated over $70,000 in the plan and all of her contributions are invested in segregated funds. She meets with Jun to invest in an individual segregated fund. Jun tells her that there are some differences between group and individual segregated funds.

How are Emma's group segregated funds DIFFERENT from an individual segregated fund?

Options:

A.

They have higher sales charges.

B.

They charge switching fees.

C.

They offer death benefit guarantees at a special rate.

D.

They have lower management expense ratios (MERs).

Question 3

Claire, Yvon's client, wants to make changes to her insurance portfolio. In addition to her group insurance, which provides coverage for twice her salary, she has a participating whole life policy, and a 20-year term insurance to cover her debts and provide financial protection for her son. She explains that her job has been abolished and that her employer plans to offer her something else in six months. For now, her budget is significantly affected and she also thinks she has too much insurance. She asks that Yvon cancel her insurance contracts until she starts her new job and to replace them with the least-expensive term insurance possible.

Further to Claire’s request, what should Yvon do?

Options:

A.

Fill out a new needs analysis because she is losing her group insurance coverage. She could take advantage of the cash values and the dividends left on deposit and borrow, leaving her policy as collateral.

B.

Do what Claire wants, because it is up to the client to decide. Yvon could explain to her that starting over will be more expensive, assuming that she remains insurable. Her group insurance provides her with some coverage, at least.

C.

Cancel her coverage, since the cash value and accumulated dividends will provide her with enough liquidity to replace her lost salary. Ten-year term insurance would be cheaper and she will not have to fill out a life insurance replacement declaration.

D.

Encourage Claire to keep her coverage. Yvon must show her, with an updated needs analysis, that she is temporarily losing her group coverage and that different options on her whole life policy could help her financially.

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