Free IFSE Institute LLQP Exam Questions

Harold is a 66-year-old retired school bus mechanic. He receives $900 a month from his definedbenefit pension plan (DBPP). His husband Karl is also retired and receives his own pension benefit.Harold would like to know the minimum monthly pension benefit from his DBPP that Karl will receive upon Harold's death. 

Nikolai owns a guaranteed renewable individual disability policy that he purchased last year. Thepolicy pays a monthly benefit of $3,000 and includes a 4-month waiting period and a 5-year benefitperiod. Today, he is diagnosed with prostate cancer and learns he must undergo 6 months ofradiation.When should he contact the insurance company to inform them of his diagnosis? 

Jonas recently graduated with his engineering degree and is joining the Alberta EngineeringAssociation. He is informed that the association offers a group plan to all members. Jonas wants tojoin the plan but wishes to know who will pay the premiums for the coverage.Which of the following answers is CORRECT?

Caleb meets with Miles, his insurance agent, to invest for his retirement. Caleb tells Miles that he will not need his funds for the next 25 years, he is comfortable with market fluctuations, and he would like a fund that mimics the S&P/TSX Composite index. Which of the following funds will best suit Caleb's needs? 

Sasha is an employee at PranaTech. The company offers all employees a pension plan. PranaTechmust contribute into the plan, but employee contributions are not mandatory. Sasha chooses wherehis funds will be invested.