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LLQP PDF Exam (Downloadable)
Latest 2026 Syllabus Topics Included
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Updated : 20-Feb-2026
QA : 328 Answers With In-Depth Explanation
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LLQP Question and answers Include

Total Questions: 328 Q&A's
Single Choice: 328 Q&A's

What LLQP Questions and Answers feature?

LLQP Valid and Updated Life License Qualification Program (LLQP) Q&A Dumps

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Related IFSE Institute Exams

IFSE Institute LLQP Last Week Results!

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Questions came word by
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LLQP Questions and Answers

Question # 1

Goran and Tanja married two years ago. Last year, they purchased and moved into a three-bedroom house in the suburbs. The current balance on their mortgage is $655,000. They meet with Ljubomir, an insurance agent, to purchase a joint term life insurance policy to cover the mortgage. When Ljubomir asks about their existing coverage, Goran shares that he has none. Tanja explains that she owns a universal life (UL) policy with a level death benefit of $50,000 and a cash surrender value (CSV) of $5,000, purchased 6 years ago from another agent. Tanja would like to surrender her UL policy and use the $5,000 CSV to pay for a trip to Europe. What additional information about Tanja's UL policy does Ljubomir need to collect?

A.

The investment vehicle of the policy's CSV.

B.

The adjusted cost basis (ACB) and surrender charges of the policy's CSV.

C.

The dividends and paid-up additions.

D.

The premiums upon renewal.

Question # 2

Rene and Christine are 42-year-old twins. They are currently in the middle of a career change and have decided to become entrepreneurs by buying a food franchise.

They are both in excellent health and only Rene is an average smoker.

In setting up the financial structure of their business, they each decided to take out a $400,000 10-year term life insurance policy, designating each other as irrevocable beneficiary.

What can we say about the premiums for the life insurance policies that will be issued?

A.

Both policies will have the same premium because Rene and Christine are twins.

B.

The premium for Christine's policy will be higher because statistics indicate that she will live longer than Rene.

C.

The premium for Rene's policy will be higher because statistics indicate that he will live longer than Christine.

D.

The premium for Rene's policy will be higher because he is a man and an average smoker.

Question # 3

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.

Meaghan and Beatrice would each still own 100 shares of the company.

B.

There would now be 200 outstanding shares of the company.

C.

Each share would now be worth $7,500.

D.

Alana’s estate would receive a total of $500,000.

Our Satisfied Customers LLQP Exam Reviews

Ezekiel Barrows    -    21-Jun-2025

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IFSE Institute LLQP Exam Dumps FAQs

What is the IFSE Institute LLQP exam?

The IFSE Institute Life License Qualification Program (LLQP) exam is a certification course designed to qualify candidates to write provincial insurance licensing exams in Canada

What is the format of IFSE Institute LLQP exam?

The LLQP exam consists of modular online proctored exams, with four modules for Common Law and Civil Law, and five modules for Canada. Each module includes multiple-choice questions.

What is the IFSE Institute LLQP exam focused on?

The IFSE Institute LLQP exam delves into core life insurance concepts like:

  • Life insurance products (term, whole life, universal life)
  • Underwriting and risk assessment
  • Policy benefits and riders
  • Legal and ethical considerations
  • Canadian regulatory environment

What is the worth of taking the Life License Qualification Program (LLQP) exam?

Taking the Life License Qualification Program (LLQP) exam is essential for anyone aspiring to become a licensed insurance professional in Canada, opening doors to a rewarding career in the insurance industry.

What are the prerequisites for the Life License Qualification Program (LLQP) exam?

To be eligible for the LLQP exam, candidates must first complete an approved LLQP training course offered by an accredited provider like the IFSE Institute. There are no formal education prerequisites, but having a background in finance or insurance can be beneficial.

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What updates have been made to the IFSE Institute LLQP exam recently?

To stay updated on the latest changes to the IFSE Institute LLQP exam, it's recommended to consult with Valid4sure's support team. We can provide the most current information regarding LLQP exam updates and syllabus modifications.