Ace Your LLQP Life License Qualification Program Exam

Comprehensive and Detailed in Depth Explanation with Exact Extract from Documents and Guides:

Under Canadian common law and insurance principles, claims can be denied if the insured’s death or disability results from illegal activities. TheIFSE Ethics and Professional Practice Course (Common Law)notes that exclusions in group insurance policies often include losses due to criminal acts. Here, Omar and Martha were engaged in theft and robbery—illegal activities—when the accident occurred. Martha’s death and Omar’s disability directly resulted from this criminal behavior. As a result, the insurer can deny both the death benefit (payable to Omar as Martha’s beneficiary) and Omar’s disability benefit under the policy’s exclusions. Paying either benefit (A, C, D) contradicts the principle that insurance does not cover losses from illegal acts. Thus, B is correct.

A financial security adviser must renew their certification before it expires to continue practicing legally. According to LLQP regulations, it is crucial for advisers to maintain a valid certificate to ensure compliance with regulatory standards and avoid lapses in their ability to provide services​. Failing to renew on time could result in a suspension of the adviser’s ability to operate until the certificate is renewed.

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Dario violated his duties and obligations towards the public by engaging in aggressive and unsolicited solicitation tactics. According to LLQP ethical guidelines, insurance agents must conduct themselves in a manner that upholds the integrity and reputation of the profession. This includes respecting the public’s privacy and avoiding high-pressure sales tactics​.

The behavior described, where Dario persistently contacts Andrew and sends unsolicited gifts, can be seen as harassment, which is inconsistent with the standards expected of insurance representatives when interacting with the public. LLQP guidelines emphasize the importance of professionalism, transparency, and respect towards potential clients​.

The Canadian Insurance Services Regulatory Organizations (CISRO) is responsible for administering the regulatory framework for insurance intermediaries across Canada. CISRO works with provincial and territorial regulators to ensure consistent standards and practices for insurance agents, helping maintain public trust and professional integrity within the industry​.Elizabeth is correctly referencing CISRO as the body that manages the regulatory system applicable toinsurance intermediaries​.