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LLQP Exam Dumps : Life License Qualification Program (LLQP)

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Life License Qualification Program (LLQP) Questions and Answers

Question 1

(Anthony, 26, wants to invest $500 but be able to cash it in anytime without fees and wants capital protection.

What investment should the insurance agent recommend?)

Options:

A.

An IVIC consisting of a growth fund with a 100% maturity guarantee.

B.

An IVIC consisting of a bond fund with a deferred sales charge.

C.

A redeemable guaranteed investment certificate.

D.

A market-linked guaranteed investment certificate.

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Question 2

(Germaine, a shareholder-manager, already has a group RRSP for her employees. She now wants to establish a second group savings plan that allows employees to withdraw money at any time without additional taxes or penalties.

Which plan fits her needs?)

Options:

A.

ADBPP.

B.

A group TFSA.

C.

APRPP.

D.

ADPSP.

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.