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IFSE Institute Updated LLQP Exam Questions and Answers by harriett

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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: harriett
Question 80

Janice meets with Patrick, an insurance agent, to review her investment needs. Patrick suggests that she invest in segregated funds. Janice is not familiar with these types of funds.

What information can Patrick provide to Janice to help her understand the advantages of segregated funds?

Options:

A.

They are fully protected by Assuris.

B.

They can be withdrawn anytime.

C.

They guarantee protection from creditors.

D.

They require medical underwriting.

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Question 81

Mohammed is an employee at Optima Plus Inc. Over the years, he accumulated $15,000 in the company's group plan. He knows that his contributions into the plan are not tax-deductible, and he is not taxed on the funds when he makes a withdrawal.

What type of plan does Mohammed have with his employer?

Options:

A.

A group registered retirement savings plan (GRRSP)

B.

A deferred profit sharing plan (DPSP)

C.

A group tax-free savings account (TFSA)

D.

A group registered retirement income fund (RRIF)

Discussion
Question 82

Planet Source decides to implement a defined contribution pension plan (DCPP) for its 75 employees. The company's president appoints Josie, the human resources director, as the plan administrator.

Which of the following BEST describes Josie's responsibility as a plan administrator?

Options:

A.

To manage the pension plan

B.

To amend the pension plan

C.

To address funding shortfalls

D.

To set the benefit structure

Discussion
Question 83

(Business owner Timothy is reviewing information that his life insurance agent provided for him to establish a group savings plan for his employees. Timothy then meets the agent for some advice. He wants to avoid having to deal with pension credit adjustments.

Which of the following types of plans would meet this requirement?)

Options:

A.

GRRSPs and DPSPs.

B.

GRRSPs and group TFSAs.

C.

Group TFSAs and DPSPs.

D.

Group TFSAs and DCPPs.

Discussion
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