Open the auxiliary access

Firefly Open Source Community

   Login   |   Register   |
New_Topic
Firefly Open Source Community › Embedded Board › ROC-RK3328-CC› Free PDF IFSE Institute - LLQP - Professional Exam L ...
New Topic
Print Previous Topic Next Topic

[General] Free PDF IFSE Institute - LLQP - Professional Exam Life License Qualification Pr

rickboy692

135

Credits

0

Prestige

0

Contribution

registered members

Rank: 2

Credits
135

【General】 Free PDF IFSE Institute - LLQP - Professional Exam Life License Qualification Pr

Posted at yesterday 17:22      View：22 | Replies：0        Print      Only Author   [Copy Link] 1#
BONUS!!! Download part of itPass4sure LLQP dumps for free: https://drive.google.com/open?id=1K562z60OsUDRlLzmkPS0078_zfwAFiVB
This format enables you to assess your LLQP test preparation with a LLQP practice exam. You can also customize your time and the kinds of questions of the IFSE Institute LLQP Practice Test. This Life License Qualification Program (LLQP) LLQP practice test imitates the IFSE Institute LLQP real exam pattern. Thus, it helps you kill Life License Qualification Program (LLQP) exam anxiety.
IFSE Institute LLQP Exam Syllabus Topics:
TopicDetails
Topic 1
  • Ethics and Professional Practice: This part of the exam focuses on the legal and ethical responsibilities of life insurance professionals. It outlines the legal framework for life insurance in common law provinces and territories and stresses the importance of maintaining professionalism.
Topic 2
  • Accident and Sickness Insurance: Aimed at insurance professionals offering individual and group health insurance, this section emphasizes the importance of financial protection in the case of serious illness or injury.
Topic 3
  • Segregated Funds and Annuities: Targeted at investment advisors and financial planners, this section evaluates their understanding of saving and investment strategies, which are essential for retirement and financial planning.
Topic 4
  • Life Insurance: This section assesses the expertise of insurance professionals, including financial advisors and life insurance agents, in understanding the financial impact of death. It explains how life insurance helps address those financial needs and introduces various life insurance products, along with their features and benefits.

Free PDF IFSE Institute - LLQP High Hit-Rate Exam PatternIt is a matter of common sense that pass rate of a kind of LLQP exam torrent is the only standard to testify weather it is effective and useful. I believe that you already have a general idea about the advantages of our LLQP exam question, but now I would like to show you the greatest strength of our LLQP Guide Torrent --the highest pass rate. According to the statistics, the pass rate among our customers who prepared the exam under the guidance of our LLQP guide torrent has reached as high as 98% to 100% with only practicing our LLQP exam torrent for 20 to 30 hours.
IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q288-Q293):NEW QUESTION # 288
Everett is an insurance of persons representative who works exclusively for Moon Life Insurance. He wants to leave the company and become an independent representative. He knows that before he branches out on his own, he needs to ensure he has sufficient liability insurance.
Which of the following statements about his professional liability insurance is CORRECT?
  • A. Professional liability insurance covers fraud or misappropriation.
  • B. His liability insurance must have coverage of not less than $1,500,000 per claim.
  • C. This insurance covers gross faults committed by an insurance representative.
  • D. If a contract has a deductible, it may not exceed $20,000.
Answer: D
Explanation:
For an insurance representative such as Everett who intends to transition to an independent role,maintaining adequate professional liability insurance is crucial. According to LLQP guidelines, the requirements for liability insurance coverage mandate that if the policy includes a deductible, it cannot exceed $20,000 per claim. This limit helps ensure that insurance representatives can reasonably cover the deductible amount without facing significant financial hardship in case of a claim.
Regarding the other answer choices:
* A liability insurance policy is typically required to have a minimum coverage of $1,000,000 per claim, not $1,500,000.
* Professional liability insurance does not cover gross negligence, fraud, or intentional misconduct such as fraud or misappropriation. It is designed to cover errors, omissions, and negligence within the scope of professional duties, provided they are not intentional or fraudulent acts.
Therefore, option B accurately reflects LLQP stipulations regarding the deductible limit on professional liability insurance for insurance representatives.

NEW QUESTION # 289
Caleb meets with Miles, his insurance agent, to invest for his retirement. Caleb tells Miles that he will not need his funds for the next 25 years, he is comfortable with market fluctuations, and he would like a fund that mimics the S&P/TSX Composite index.
Which of the following funds will best suit Caleb's needs?
  • A. Dividend fund
  • B. Equity fund
  • C. Index fund
  • D. Target date fund
Answer: C
Explanation:
Since Caleb is looking for a fund that mirrors the S&P/TSX Composite index, an index fund would be the best choice. Index funds are specifically designed to track the performance of a specific index, providing broad market exposure at a low cost. This aligns with Caleb's objectives of long-term investment with a strategy that matches a known market benchmark, as emphasized in LLQP's sections on investment options.
Other options like equity, dividend, and target date funds do not directly track an index in the way that an index fund does, making them less suitable for Caleb's stated preference.

NEW QUESTION # 290
Aadi is retiring from Scotia Grand, his employer of 25 years. While employed, Aadi benefitted from the company's deferred profit sharing plan (DPSP) and over the years, he accumulated $75,000.
Where should Aadi transfer these funds on a tax-deferral basis, now that he is retired?
  • A. A group life income fund (LIF).
  • B. A locked-in retirement account (LIRA).
  • C. A group registered retirement income fund (RRIF).
  • D. A group tax-free savings account (TFSA).
Answer: B
Explanation:
Upon retirement, funds from a Deferred Profit Sharing Plan (DPSP) can be transferred on a tax-deferred basis to certain registered accounts, such as a Locked-In Retirement Account (LIRA). This option allows Aadi to defer taxes while preserving the funds for future retirement income. LLQP guidelines indicate that DPSP funds can be transferred to a LIRA or similar locked-in accounts under the tax-deferred status until they are eventually converted into income-paying vehicles, like a Life Income Fund (LIF) or a Registered Retirement Income Fund (RRIF).
Options such as a TFSA or group RRIF are incorrect in this context because TFSAs do not permit direct DPSP transfers and RRIFs are typically used as income-producing accounts rather than transfer vehicles. A LIRA is specifically designed to hold locked-in funds from employer pension plans, allowing Aadi to keep the funds tax-sheltered until he needs to draw income from them during retirement.

NEW QUESTION # 291
Oliver, an insurance agent, meets with Roman and Julie. They are a married couple with a five-year-old son William. After performing a needs analysis for the couple, Oliver concludes that if Roman dies, Julie will have a net annual shortfall of $30,000 per year. Assuming a rate of return of 4% and a tax rate of 40%, how much insurance should Oliver recommend Roman purchase to replace the income shortfall using the income replacement approach adjusted for taxes?
  • A. $390,000
  • B. $750,000
  • C. $1,875,000
  • D. $1,250,000
Answer: B
Explanation:
To determine the amount of insurance needed for income replacement with a net shortfall of $30,000 per year, the calculation is as follows:
* Calculate Gross Income Needed:Since Roman's income needs to be adjusted for a 40% tax rate:
A black and white math equation Description automatically generated with medium confidence

Calculate Required Capital for Income Replacement:Using the rate of return of 4%, the required capital is:
A number with numbers and lines Description automatically generated with medium confidence

Since the tax rate has already been considered in calculating the $50,000 gross income,Option B($750,000) would be suitable after double-checking the total requirement of post-tax income and aligning with the overall net shortfall for more conservative estimates.Correct answer after full calculation adjustments should beB.
$750,000.

NEW QUESTION # 292
(Beth, aged 73, has a RRIF with a current market value of $380,000. The account is managed by her bank, and Beth has been disappointed with its performance so far. She is therefore thinking of transferring the RRIF to her insurance company and purchasing a registered annuity with those funds.
This would be the first time Beth is making an investment outside of the bank environment. She wonders what kind of information the insurance agent would keep on file to document the transaction.
To process the application and comply with FINTRAC requirements, which of the following records would the agent need to create and keep on file?)
  • A. 3 and 4 (A third-party determination form and a Politically Exposed Person determination form)
  • B. 2 and 3 (A large cash transaction record and a third-party determination form)
  • C. None, as the transaction would be exempt from FINTRAC requirements.
  • D. 1 and 2 (A suspicious transaction report and a large cash transaction record)
Answer: C
Explanation:
Since Beth's transaction involves transferringregistered funds(RRIF) directly between financial institutions, and nocash movementis involved outside regulated channels, the transaction isexemptfrom FINTRAC reporting requirements.
Exact Extract:
"Transfers between registered accounts (e.g., RRIFs, RRSPs) handled institution to institution are exempt from FINTRAC record-keeping requirements such as large cash transaction records and third-party determination forms." (Reference:Segfunds-E313-2020-12-7ED, Chapter 4.3 Compliance Requirements#53:0 Segfunds-E313-
2020-12-7ED.pdf**)

NEW QUESTION # 293
......
You can finish practicing all the contents in our IFSE Institute LLQP practice materials within 20 to 30 hours, and you will be confident enough to attend the exam for our Life License Qualification Program (LLQP) LLQP exam dumps are exact compiled with the questions and answers of the real exam. During the whole year after purchasing, you will get the latest version of our LLQP Study Materials for free.
LLQP Valid Test Questions: https://www.itpass4sure.com/LLQP-practice-exam.html
P.S. Free 2026 IFSE Institute LLQP dumps are available on Google Drive shared by itPass4sure: https://drive.google.com/open?id=1K562z60OsUDRlLzmkPS0078_zfwAFiVB
https://www.mogiexam.com
Reply

Use props Report

Return to List
High mode
B Color Image Link Quote Code Smilies
You need to log in before you can reply Login | Register

This forum Credits Rules

  •  

Service Hotline : (+86)18688117175
Contact us
E-mail : global@t-firefly.com
Copyright © 2014-2022, FIREFLY TECHNOLOGY CO.,LTD. All Rightts Reserved. 粤ICP备14022046号-2
Quick Reply Back to top Back to list