LLQP Practice Questions Explained

Original LLQP practice questions with the answer, a full worked explanation and the mistake candidates actually make. Pick your module, then a topic. For a mixed set, try the free sample questions or the free mock.

Life Test questions

18 worked questions across 6 topics

Needs Analysis & Client Situation

Farid, 39, earns $70,000 a year and has group life equal to twice his salary, plus $60,000 of non-registered savings. If he dies, his wife Leila, who nets $30,000 a year, needs $48,000 a year after tax for the family. Other needs: final expenses $25,000, mortgage $310,000, other debts $18,000 and an education fund of $80,000. Capital earns 4% and only the income is spent. How much additional coverage does Farid need?
Mei, 44, wants her family to receive $56,000 a year after tax for 15 years if she dies, paid at the end of each year. The proceeds are assumed to earn 3% a year and may be used up completely by the last payment. Ignoring her other assets, how much capital is required?
Noreen, 52, wants capital that will pay her husband $40,000 a year forever, with the payment rising each year with inflation. The capital is expected to earn 5% and inflation is assumed at 2%. Using the exact real rate (1.05 ÷ 1.02 − 1) and preserving the capital in real terms, how much is needed?

Estate, Tax at Death & Business Needs

Term, Whole Life & Term to 100

Universal Life, Riders & Group Life

Underwriting, Application & Policy Provisions

Policy Taxation, Changes & Claims

A&S Test questions

15 worked questions across 5 topics

Needs Analysis & Government Programs

Disability Income Insurance

Critical Illness, LTC, Health & Travel

Group & Business A&S Plans

Underwriting, Taxation & Claims

Seg Funds Test questions

18 worked questions across 6 topics

Investor Profile & Investment Basics

Registered Plans & Retirement Income

Segregated Fund Guarantees & Features

Annuities & Group Retirement Plans

Taxation of Segregated Funds & Annuities

Disclosure, Suitability & Contract Service

Ethics Test questions

15 worked questions across 5 topics

Legal Framework, Privacy & AML

Contract Formation, Disclosure & Provisions

Beneficiaries, Creditor Protection & Claims

Regulators, Licensing & Agent Duties

Fair Treatment & Professional Conduct

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Original study material mapped to the public CISRO curriculum. Not affiliated with CISRO, CCIR or any provincial insurance regulator.