LLQP Segregated Funds and Annuities Module: What It Tests
The Segregated Funds and Annuities module is 35 questions (30 scored) in 75 minutes, with 60% to pass. 76% of first-time writers passed it in 1 Jun 2025 to 31 May 2026.
What it covers
| Component | Weight | Our topics |
|---|---|---|
| Assess the client's needs and situation | 35% | [Investor profile](/notes/sfa-investor-profile); [registered plans and retirement income](/notes/sfa-registered-plans) |
| Analyze the available products | 30% | [Guarantees and features](/notes/sfa-seg-fund-features); [annuities and group plans](/notes/sfa-annuities-group) |
| Implement a recommendation | 25% | [Taxation](/notes/sfa-taxation) |
| Customer service during the coverage | 10% | [Disclosure, suitability and contract service](/notes/sfa-sales-service) |
Where marks are lost
- How withdrawals reduce maturity and death benefit guarantees.
- Resets: higher guarantee, later maturity date.
- Who is taxed on a segregated fund's income and gains (the contract holder, by allocation).
- Prescribed versus non-prescribed annuity taxation.
- RRIF minimum withdrawals and TFSA rules.
Frequently asked questions
What is on the LLQP Segregated Funds exam?
Investor profiles, maturity and death benefit guarantees, resets, annuities, registered and group retirement plans, taxation and contract service.
Go deeper: study notes
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