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IFSE Institute LLQP Exam With Confidence Using Practice Dumps

Exam Code:
LLQP
Exam Name:
Life License Qualification Program (LLQP)
Vendor:
Questions:
328
Last Updated:
Aug 25, 2026
Exam Status:
Stable
IFSE Institute LLQP

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

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Life License Qualification Program (LLQP) Questions and Answers

Question 1

Gino, an insurance of persons representative, is cleaning his office and going through old files. He comes across a file from a former client, Nathan, who owned a 20-year term insurance policy that was cancelled 3 years ago. Nathan now has a different representative and Gino no longer has any contact with him. Gino would like to know if he can destroy Nathan's file.

Which of the following options is CORRECT?

Options:

A.

Yes, because Nathan transferred his affairs to another representative.

B.

Yes, because Nathan cancelled his policy 3 years ago.

C.

No, because he must wait until the file has been closed for at least 5 years.

D.

No, because he must wait until the file has been closed for at least 7 years.

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Question 2

(Jerry, aged 63, is getting ready to retire. His pension statement shows contributions, investment choices, and performance data.

From among the following types of pension plans, which one was Jerry a member of?)

Options:

A.

Group life income fund.

B.

Defined benefit pension plan.

C.

Defined contribution pension plan.

D.

Deferred profit-sharing plan.

Question 3

Abishola purchases segregated funds from her insurance agent Bob. Before finalizing the transaction, she tells Bob that she will need the funds in a few months to make a down payment on a condo. Later, when Abishola calls to withdraw her funds, Bob informs her that she will incur a fee for withdrawing her funds prematurely. Abishola complains to Bob, and then to Bob's supervisor, without receiving a satisfactory response. To which organization can Abishola escalate her complaint?

Options:

A.

Office of the Privacy Commissioner of Canada.

B.

Assuris.

C.

Canadian Council of Insurance Regulators.

D.

OmbudService for Life and Health Insurance.