LLQP Exam Dumps : Life License Qualification Program (LLQP)

Since Gregory and Vanessa bought a joint life annuity without mention of a guarantee period, the annuity would cease payments upon the death of the second annuitant. Therefore, no death claim can be made on the annuity.

Exact Extract:

"In a joint life annuity with no guarantee period, payments stop upon the death of the second annuitant. No death benefit is payable."

(Reference: Segfunds-E313-2020-12-7ED, Chapter 3.2.2.2 Joint Life Contract【53:3†Segfunds-E313-2020-12-7ED.pdf**)

A Registered Education Savings Plan (RESP) is specifically designed to fund education savings and allows contributions for a named beneficiary (Brienne), making it the perfect choice.

Exact Extract:

"An RESP is an education savings plan sponsored by the government, providing grants and tax-deferral advantages for beneficiaries saving for post-secondary education."

(Reference: Segfunds-E313-2020-12-7ED, Chapter 1.3.11.3 Group Plans and Registered Education Savings Plans​)

Comprehensive and Detailed In-Depth Explanation: Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), insurance representatives must report suspicious transactions to FINTRAC (Section 7). FINTRAC guidelines list red flags: urgency without justification, disinterest in product details, and cash payments, especially if inconsistent with client profile. Option C—clients in a hurry, uninterested in long-term benefits, and insisting on cash—matches these indicators, suggesting potential money laundering. Option A (questions about controls) may indicate curiosity or caution, not necessarily suspicion. Option B (hurry and cash) is less conclusive without disinterest in benefits. Option D (interest in benefits) contradicts typical laundering behavior. The Ethics manual requires vigilance against financial crime, supporting Véronique’s duty to report option C.