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: Jan 12, 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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Paul is a self-employed props person in the film industry. A year ago, he purchased disability insurance with
an accidental death and dismemberment (AD&D) rider. During a film shoot, the wood floor of the film set
catches fire due to his negligence and he loses sight in one eye. Hisdoctor prescribes complete rest for five
months. How will the insurer compensate Paul under the circumstances?
Answer: A
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Paul is a self-employed props person in the film industry. A year ago, he purchased disability insurance with
an accidental death and dismemberment (AD&D) rider. During a film shoot, the wood floor of the film set
catches fire due to his negligence and he loses sight in one eye. Hisdoctor prescribes complete rest for five
months. How will the insurer compensate Paul under the circumstances?
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Question 2
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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 3
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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?
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Question 4
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Six years ago, Diu purchased an immediate life annuity with a 10-year guarantee period. The annuity paid her
a monthly benefit of $1,800. She named her son Shan as the beneficiary of the policy and her niece Haru as a
contingent beneficiary. Shan died four months ago in a motorcycle accident and between grieving and
planning the funeral, Diu forgot to update her beneficiary designation. Last week, Diu died of a heart attack.
Who would receive the annuity benefits?
Answer: C
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Six years ago, Diu purchased an immediate life annuity with a 10-year guarantee period. The annuity paid her
a monthly benefit of $1,800. She named her son Shan as the beneficiary of the policy and her niece Haru as a
contingent beneficiary. Shan died four months ago in a motorcycle accident and between grieving and
planning the funeral, Diu forgot to update her beneficiary designation. Last week, Diu died of a heart attack.
Who would receive the annuity benefits?
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Question 5
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Nathalie worked for 25 years as an administrative assistant at a manufacturing company. When she left the
company 10 years ago, she transferred the money that she accumulated from the company’s pension plan into
a locked-in retirement account (LIRA). Now she is 60 years of age and would like to withdraw the money
from the LIRA.
Under which of the following circumstances would Nathalie be allowed to withdraw her funds?
Answer: B
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Nathalie worked for 25 years as an administrative assistant at a manufacturing company. When she left the
company 10 years ago, she transferred the money that she accumulated from the company’s pension plan into
a locked-in retirement account (LIRA). Now she is 60 years of age and would like to withdraw the money
from the LIRA.
Under which of the following circumstances would Nathalie be allowed to withdraw her funds?