VALID IFSE INSTITUTE LLQP VCE - ACTUAL LLQP TEST ANSWERS

Valid IFSE Institute LLQP Vce - Actual LLQP Test Answers

Valid IFSE Institute LLQP Vce - Actual LLQP Test Answers

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Tags: Valid LLQP Vce, Actual LLQP Test Answers, LLQP Dump Torrent, New LLQP Exam Pdf, Valid LLQP Test Practice

Passing the Life License Qualification Program (LLQP) (LLQP) exam can be a challenging task, especially if you have a tight schedule. You need comprehensive exam questions to prepare well for the exam. In this article, we will introduce you to Exams4sures IFSE Institute LLQP Exam Questions that offer relevant and reliable exam materials for your Life License Qualification Program (LLQP) (LLQP) exam preparation.

We are constantly updating our practice material to ensure that you receive the latest preparation material based on the actual IFSE Institute LLQP exam content. Up to 1 year of free Life License Qualification Program (LLQP) (LLQP) exam questions updates are also available at Exams4sures. The Exams4sures offers a money-back guarantee (terms and conditions apply) for students who fail to pass their Life License Qualification Program (LLQP) (LLQP) exam on the first try.

>> Valid IFSE Institute LLQP Vce <<

Actual IFSE Institute LLQP Test Answers & LLQP Dump Torrent

By selecting our LLQP training material, you will be able to pass the LLQP exam in the first attempt. You will be able to get the desired results in LLQP certification exam by checking out the unique self-assessment features of our LLQP Practice Test software. You can easily get the high paying job if you are passing the LLQP exam in the first attempt, and our LLQP study guides can help you do so.

IFSE Institute Life License Qualification Program (LLQP) Sample Questions (Q250-Q255):

NEW QUESTION # 250
Alana, Meaghan, and Beatrice are equal shareholders of Advanced Tech Inc. They each own 100 shares of the company. Each share is currently worth $5,000. They recently signed a cross-purchase buy-sell agreement that is funded by life insurance. What will happen under this agreement if Alanadies today?

  • A. Alana's estate would receive a total of $500,000.
  • B. Meaghan and Beatrice would each still own 100 shares of the company.
  • C. Each share would now be worth $7,500.
  • D. There would now be 200 outstanding shares of the company.

Answer: A

Explanation:
In a cross-purchase buy-sell agreement funded by life insurance, each shareholder purchases a life insurance policy on the lives of the other shareholders. Upon the death of a shareholder, the surviving shareholders use the proceeds from the insurance to buy out the deceased shareholder's shares at the agreed value. Since each share is valued at $5,000, Alana's 100 shares would be worth:
100 shares×5,000=500,000100 text{ shares} times 5,000 = 500,000100 shares×5,000=500,000 Thus, Meaghan and Beatrice would collectively purchase Alana's shares from her estate, providing her estate with a total of$500,000. Each surviving shareholder will then own an additional 50 shares, resulting in each now holding 150 shares of Advanced Tech Inc. This option aligns with the principles of cross-purchase agreements discussed in the LLQP.


NEW QUESTION # 251
Renato's new employer has just informed him that he is now eligible to join the company's group insurance plan. He could thus benefit from life, disability, and prescription drug coverage. Renato promptly fills out the paperwork to apply for the plan's basic coverage. Wondering if the process will involve medical underwriting at any point, he asks an agent from the group insurance provider. What should the agent tell him?

  • A. No medical underwriting is required, neither upon application nor when filing a claim.
  • B. Medical underwriting is required (retroactively) when filing a claim, but not upon application.
  • C. Medical underwriting is required upon application, but not when filing a claim.
  • D. Medical underwriting is required both upon application and when filing a claim.

Answer: A

Explanation:
Comprehensive and Detailed Explanation:
Group plans typically waive medical underwriting for basic coverage upon enrollment (Chapter 8:Group Plan Specifics).
Option A: Incorrect; not standard.
Option B: Incorrect; not required at application.
Option C: Incorrect; no retroactive underwriting.
Option D: Correct; no underwriting for basic group coverage.
Reference: LLQP Accident and Sickness Insurance Manual, Chapter 8:Group Plan Specifics.


NEW QUESTION # 252
Mercedes is a single mother to her 5-year-old son, Arthur. Arthur's father, Richard, is not in his son's life because he is a recovering drug dealer who spent the last 4 years in and out of prison. Mercedes has full custody of Arthur and cannot count on help from her family because they live in another province.
Wanting to ensure his wellbeing, in the event of her death, Mercedes purchases a $100,000 life insurance policy and names Arthur the sole beneficiary of the policy.
If she died without a will, who would receive the death benefit?

  • A. Richard
  • B. Mercedes's estate
  • C. Arthur
  • D. Director of youth protection

Answer: D

Explanation:
In Quebec, when a minor is named as a beneficiary on a life insurance policy, and the policyholder dies without a will, the death benefit is not directly accessible to the minor. Instead, the benefit is placed under the management of a legal guardian or the Director of Youth Protection, depending on the circumstances. Since Mercedes has full custody and there is no designated legal guardian in place, the Director of Youth Protection would typically assume responsibility for managing the funds on behalf of Arthur until he reaches the age of majority.
If Richard has no custodial rights and is deemed unfit, as his history suggests, he would not be eligible to receive or manage the funds. Additionally, since Mercedes passed away without a will, her estate would not directly receive the benefit, as the policy directly names Arthur as the beneficiary. The Director of Youth Protection will oversee the funds to ensure they are used in Arthur's best interests.


NEW QUESTION # 253
(At 60 years of age, Pierre recently retired for health reasons: he suffers from leukemia and is only expected to live three or four more years, according to his oncologist. A friend advised Pierre to purchase an annuity with his RRSP, as he has no immediate family to leave money to and wants a guaranteed monthly payout.
What type of annuity would be best suited for Pierre?)

  • A. An enhanced annuity.
  • B. A deferred annuity.
  • C. A life annuity.
  • D. A term annuity.

Answer: D

Explanation:
Given Pierre'sshort life expectancy, aterm annuity(paying for a specific period) would ensure he receives guaranteed payments for a fixed number of years, aligning with his situation and providing steady cash flow.
Exact Extract:
"A term annuity pays a fixed income for a set number of years. It is appropriate for clients expecting a limited lifespan and wishing to maximize payouts during their lifetime." (Reference:Segfunds-E313-2020-12-7ED, Chapter 3.2.3 Duration of the Annuity#49:2 Segfunds-E313-2020-
12-7ED.pdf**)


NEW QUESTION # 254
Emma, an employee at MagicLand, is part of the company's group registered retirement savings plan (RRSP).
During her tenure, she accumulated over $70,000 in the plan and all of her contributions are invested in segregated funds. She meets with Jun to invest in an individual segregated fund. Jun tells her that there are some differences between group and individual segregated funds.
How are Emma's group segregated funds DIFFERENT from an individual segregated fund?

  • A. They have higher sales charges.
  • B. They charge switching fees.
  • C. They have lower management expense ratios (MERs).
  • D. They offer death benefit guarantees at a special rate.

Answer: C

Explanation:
Group segregated funds typically have lower Management Expense Ratios (MERs) than individual segregated funds because group plans benefit from economies of scale and pooled investment options. LLQP highlights that group plans often have reduced fees compared to individual plans due to collective investment and reduced administrative costs.
Options A and B are incorrect as group plans typically feature lower costs and don't often charge switching fees. Option C is incorrect as individual segregated funds typically have more flexible death benefit guarantee options, not special rates in group plans.


NEW QUESTION # 255
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