Free CSI LLQP Exam Questions
Absolute Free LLQP Exam Practice for Comprehensive Preparation
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CSI LLQP Exam Questions
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Provided By: CSI
- Exam: Life License Qualification Program Insurance Course (LLQP)
- Certification: Canadian Securities Course
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Total Questions: 0
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Updated On: Apr 22, 2026
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Rated: 4.9 |
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Online Users: 0
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Question 1
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Arianna has been an insurance agent with Ideal Life for over 15 years, always working hard to grow her client
base and keep her existing clients happy. Last week, she prepared an elaborate insurance plan for Raphael, a
potential new client. But when they meet, Raphael tells her he wants a second opinion. Arianna tells him that
she cannot allow him to show or discuss details of her work with a potential competitor. She explains it's
wrong for another agent to benefit from her work and knowledge.
Which of the following standards of conduct did Arianna contravene?a
Answer: C
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Arianna has been an insurance agent with Ideal Life for over 15 years, always working hard to grow her client
base and keep her existing clients happy. Last week, she prepared an elaborate insurance plan for Raphael, a
potential new client. But when they meet, Raphael tells her he wants a second opinion. Arianna tells him that
she cannot allow him to show or discuss details of her work with a potential competitor. She explains it's
wrong for another agent to benefit from her work and knowledge.
Which of the following standards of conduct did Arianna contravene?a
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Question 2
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(At 60 years of age, Pierre recently retired for health reasons: he suffers from leukemia and is only
expected to live three or four more years, according to his oncologist. A friend advised Pierre to
purchase an annuity with his RRSP, as he has no immediate family to leave money to and wants a
guaranteed monthly payout.
What type of annuity would be best suited for Pierre?)
Answer: A
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(At 60 years of age, Pierre recently retired for health reasons: he suffers from leukemia and is only
expected to live three or four more years, according to his oncologist. A friend advised Pierre to
purchase an annuity with his RRSP, as he has no immediate family to leave money to and wants a
guaranteed monthly payout.
What type of annuity would be best suited for Pierre?)
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Question 3
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Josh is an established advisor who specializes in group benefits. He recently hired Bryan as a marketing
manager. Bryan will be responsible for advertising and creating a social media platform for Josh's company.
Among other things, Bryan is developing a monthly electronic newsletter, which he plans to email to potential
and existing clients. However, because this is a brand new initiative, none of the would-be recipients has
subscribed to the newsletter or asked to receive any such communication from Josh's company. What law
should Josh and Bryan be mindful of before sending their newsletter?
Answer: B
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Josh is an established advisor who specializes in group benefits. He recently hired Bryan as a marketing
manager. Bryan will be responsible for advertising and creating a social media platform for Josh's company.
Among other things, Bryan is developing a monthly electronic newsletter, which he plans to email to potential
and existing clients. However, because this is a brand new initiative, none of the would-be recipients has
subscribed to the newsletter or asked to receive any such communication from Josh's company. What law
should Josh and Bryan be mindful of before sending their newsletter?
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Question 4
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Larson, an insurance agent, meets with Julia, a real estate agent, to review her insurance needs. Julia has $500
in her savings account and does not own a tax-free savings account (TFSA) or registered retirement savings
plan (RRSP). She earns an average of $150,000 a year in sales commissions and rental income from two
condo units she owns. The combined value of her income properties is $1,000,000, and the mortgage is
$200,000.
Larson recommends that Julia open a TFSA and use it to invest $400 a month in a money market fund.
Which of the following personal risks is Larson trying to mitigate with this advice?
Answer: D
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Larson, an insurance agent, meets with Julia, a real estate agent, to review her insurance needs. Julia has $500
in her savings account and does not own a tax-free savings account (TFSA) or registered retirement savings
plan (RRSP). She earns an average of $150,000 a year in sales commissions and rental income from two
condo units she owns. The combined value of her income properties is $1,000,000, and the mortgage is
$200,000.
Larson recommends that Julia open a TFSA and use it to invest $400 a month in a money market fund.
Which of the following personal risks is Larson trying to mitigate with this advice?
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Question 5
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Dakota is the owner of Fresh Drapes, a home decoration company. She opened her business five years agowhen she quit her day job, took out loans, and put all her life savings into opening her store. Her business isdoing well, so she meets with Tanya, an insurance agent, to start investing for her retirement. Aftercompleting a thorough needs analysis, Tanya suggests that Dakota purchase segregated funds and name herhusband as the beneficiary of the funds.Which of the following offers the GREATEST benefit to Dakota by investing in segregated funds over othertypes of investments?
Answer: D
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Dakota is the owner of Fresh Drapes, a home decoration company. She opened her business five years agowhen she quit her day job, took out loans, and put all her life savings into opening her store. Her business isdoing well, so she meets with Tanya, an insurance agent, to start investing for her retirement. Aftercompleting a thorough needs analysis, Tanya suggests that Dakota purchase segregated funds and name herhusband as the beneficiary of the funds.Which of the following offers the GREATEST benefit to Dakota by investing in segregated funds over othertypes of investments?