Ifse Institute certkiller life License Qualification Program Llqp Syllabus Exam Questions Answers by Travis q105 vce pdf

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IFSE Institute LLQP Exam Overview :

Exam Name:	Life License Qualification Program (LLQP)
Exam Code:	LLQP Dumps
Vendor:	IFSE Institute	Certification:	Life License Qualification Program
Questions:	298 Q&A's	Shared By:	travis

Question 88

Luisa owns a balanced segregated fund currently valued at $50,000. Her mother Linda is the current revocable beneficiary of the policy. However, Luisa has been dating Benjamin for a year and would like to name him as the new beneficiary of her policy.

Which of the following statements about modifying the beneficiary designation is CORRECT?

Options:

The change will take effect on the date that the insurer receives the change of beneficiary form.

Since Linda is Luisa’s named beneficiary, she would need to consent to the change.

Luisa can modify the designation anytime.

Luisa can call the insurer's head office to notify them of the change.

Discussion

Question 89

Leonard and Ashley, a couple in their early 30s, meet with Howard, an insurance agent, to review their investment needs. Leonard earns $60,000 a year as a research physicist, and Ashley earns $25,000 as an actress. They each have $3,000 in their respective chequing accounts. Leonard also has $40,000 invested in his group registered retirement savings plan (RRSP). Ashley has a Subaru WRX worth $20,000 with a car loan of $10,000. Leonard does not own a car, but he has an outstanding student loan of $30,000.

What is the couple's net worth?

Options:

$23,000

$26,000

$56,000

$111,000

Discussion

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