Title: IFSE Institute LLQP Exam Questions Learning Material in Three Different Formats [Print This Page] Author: ryanyou935 Time: yesterday 22:27 Title: IFSE Institute LLQP Exam Questions Learning Material in Three Different Formats P.S. Free 2026 IFSE Institute LLQP dumps are available on Google Drive shared by PassLeader: https://drive.google.com/open?id=1DY2uu3Y9IbA-hCqypUcDIwlLfxEjWU9E
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Leanna has an accidental death and dismemberment policy for $175,000 that she purchased through Leo, her financial advisor, four years ago. Leanna works as a heavy-duty mechanic at a local diesel mechanic shop in town. Leanna was in a tragic accident that involved a hoist issue which resulted in the loss of one of her legs.
How much benefit will Leanna receive when she makes a claim?
A. $116,725
B. $87,500
C. $131,250
D. $175,000
Answer: B
Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
AD&D policies typically pay50% of the policy valuefor the loss of one limb. Therefore, $175,000 ¡Á 50% =
$87,500. The LLQP outlines thatfull benefits are for death or multiple limb loss, while partial payouts apply to single dismemberments.
NEW QUESTION # 42
Gabe and Martine are partners in a successfully run clothing company. They have a current buy-sell agreement in place which outlines how their respective share of the business is to be sold/purchased should one of them, or both of them, pass away. They have come to John, their financial advisor, to help them purchase life insurance as they understand this is the most efficient way to fund this arrangement.
What are some strategies through which the buy-sell agreement could be funded?
A. 1 and 3
B. 1, 3 and 4
C. 2 and 3
D. 1, 2 and 3
Answer: B
Explanation:
Comprehensive and Detailed Explanation From Exact Extract:
The LLQP explains that buy-sell agreements can be funded by various structures such as:
* Cross-purchase agreements, where each owner buys insurance on the other
* Share redemption plans, where the corporation redeems the deceased's shares
* Cross-share redemption plans, a hybrid approach often used in corporationsThese methods ensure liquidity for the transaction. The combination of 1, 3, and 4 matches LLQP's approved strategies.
NEW QUESTION # 43
Aaliyah is a 37-year-old account manager at a large pharmaceutical company. She earns $300,000 a year plus bonuses. She meets with Theo, an insurance agent, to review her life insurance needs. Theo deduces that Aaliyah needs a $250,000 universal life (UL) insurance policy. Aaliyah agrees but states that she wants to keep her premiums low. Which of the following UL death benefit options would BEST suit her needs?
A. Level death benefit plus cumulative premiums.
B. Level death benefit.
C. Level death benefit plus account value.
D. Indexed death benefit.
Answer: B
Explanation:
ALevel death benefitoption provides a fixed death benefit and is generally the least expensive premium option in Universal Life (UL) insurance. Since Aaliyah wants to keep her premiums low, this option best aligns with her needs. Other options like the death benefit plus account value or cumulative premiums increase the cost, as they provide a growing death benefit based on the policy's cash value or premiums paid.
Therefore,Option Awill help Aaliyah maintain lower premiums
NEW QUESTION # 44
Trisha is new to the insurance industry and wants to understand the primary responsibility of the Canadian Insurance Services Regulatory Organizations (CISRO). Which of the followingstatements about CISRO is CORRECT?
A. To provide clients with assistance to their enquiries and complaints pertaining to Canadian life and health insurance products and services.
B. To help protect the integrity of the Canadian financial system.
C. To administer the enforcement of the federal Personal Information Protection and Electronic Documents Act (PIPEDA).
D. To administer the regulatory system, applicable to insurance intermediaries.
Answer: D
Explanation:
The primary responsibility of the Canadian Insurance Services Regulatory Organizations (CISRO) is to establish and maintain a cohesive regulatory framework for insurance intermediaries, ensuring consistent standards across provincial and territorial jurisdictions in Canada. CISRO does not directly interact with consumers or administer PIPEDA; rather, it collaborates with regional regulators to promote regulatory harmony for insurance professionals.
This responsibility helps uphold public trust and ensures that intermediaries comply with legal and professional standards.
NEW QUESTION # 45
Josh is an established advisor who specializes in group benefits. He recently hired Bryan as a marketing manager. Bryan will be responsible for advertising and creating a social media platform for Josh's company.
Among other things, Bryan is developing a monthly electronic newsletter, which he plans to email to potential and existing clients. However, because this is a brand new initiative, none of the would-be recipients has subscribed to the newsletter or asked to receive any such communication from Josh's company. What law should Josh and Bryan be mindful of before sending their newsletter?
A. The Canadian Anti-Spam Legislation.
B. The Personal Information Protection and Electronic Documents Act.
C. The Privacy Act.
D. The rules governing the National Do Not Call List.
Answer: A
Explanation:
Comprehensive and Detailed in Depth Explanation with Exact Extract from Documents and Guides:
TheCanadian Anti-Spam Legislation (CASL)governs the sending of commercial electronic messages (CEMs), such as emails or newsletters, to recipients in Canada. According to CASL, businesses must obtain consent- either express or implied-before sending CEMs to individuals. Since Bryan's newsletter is a new initiative and none of the recipients have subscribed or requested it, Josh and Bryan lack consent, making CASL the primary law they must comply with. TheIFSE Ethics and Professional Practice Course (Common Law) highlights CASL under ethical businesspractices, noting that non-compliance can result in significant penalties. The Personal Information Protection and Electronic Documents Act (PIPEDA) deals with the collection and use of personal information, not unsolicited messages specifically. The Privacy Act applies to federal government institutions, and the National Do Not Call List pertains to telemarketing calls, not emails.
Thus, option B is correct.
References:
IFSE Ethics and Professional Practice Course (Common Law), Module 4: Regulatory Environment, Section on "Canadian Anti-Spam Legislation (CASL)."
NEW QUESTION # 46
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