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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:
Dec 3, 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

Adèle retired a few months ago. She sold some of her assets and would like to use the funds to take out a term annuity to increase her retirement income. Adèle brings a $300,000 cheque to Germain, her financial security advisor, and wants to begin receiving lifetime guaranteedbenefits in one month with the right to use capital in the event of an emergency. When Germain tells her about alienating capital, the capitalization phase, and the payment phase, Adèle becomes confused and asks for clearer explanations. What can Germain say to help Adèle understand?

Options:

A.

If her capital is alienated now, i.e., if ownership of the money is transferred to the insurer, the insurer will be able to guarantee all the conditions of the annuity. Since the first benefit will be paid in a month, the contract will automatically be in the payment phase

B.

The alienation will allow Adèle to keep ownership of the capital and use it in the event of an emergency. The capitalization phase will enable the insurer to grow the capital before paying the annuity

C.

The contract will be a deferred annuity contract for one month and will be in the accumulation phase until the insurer takes possession of the $300,000 in capital. For benefits to be paid, the contract will enter the payment phase

D.

To grow the transferred capital and pay the annuities as planned, the contract will be an immediate annuity contract in the capitalization phase until the annuity’s guaranteed phase expires. The contract will then enter the payment phase

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Question 2

Surjit and Rajbir got married in 2010, and Surjit named Rajbir as the irrevocable beneficiary of his life insurance contract. In 2017, the couple divorced amicably, and Surjit met 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?

Options:

A.

Surjit does not need to do anything as Rajbir is already the named beneficiary.

B.

Surjit cannot make any changes to the policy without Rajbir’s consent, as she is the irrevocable beneficiary of his policy.

C.

Surjit should name a different beneficiary now that he is divorced.

D.

Surjit should once again designate Rajbir as the beneficiary.

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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