IFSE Institute LLQP Exam With Confidence Using Practice Dumps

Comprehensive and Detailed Explanation From Exact Extract:

To insure someone’s life, there must beinsurable interestat the time the policy is initiated. Health Inc. has abusiness-related financial interestin Leslie, their key employee, whichqualifies under Canadian insurance law. The LLQP material confirms that companies may insure key personnel for loss-of-income purposes with insurable interest clearly established.

Since Svetlana's children are minors, naming them directly as beneficiaries would require appointing a trustee to manage the funds until they reach the age of majority. Given that Vladimir is unreliable,Sergei—who is dependable and supportive—is the most suitable choice to act as trustee. Naming him as trustee ensures that the funds are managed responsibly for thebenefit of Georgi and Ingrid until they can access them.Therefore,Option Bis the most appropriate choice​​.

Rachel should inform Owen that some segregated funds offer an automatic reset feature, which adjusts the guaranteed value periodically based on the fund’s market performance. This can lock in gains during rising markets without requiring manual intervention. According to LLQP resources, automatic resets can occur on specific anniversaries or under certain conditions specified in the contract​.

Option A is incorrect as not all segregated funds offer a reset feature. Option C is incorrect as there may be costs associated with funds that provide reset options. Option D is incorrect because resets typically lock in gains, not losses.