Free IFSE Institute LLQP Exam Questions

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? 

Ten years ago, Anastasia purchased a $125,000 10-year term renewable life insurance policy. Her insurance need has not changed, and she is still in good health. She asks her insurance agent Raphael what she should do. 

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. 

Samira, a 42-year-old single mother of four, owns an individual disability insurance (DI) policy. Lastweek, she was hospitalized because of complications from diabetes. She hired an emergency nannyto care for her children until she was healthy enough to resume her normal activities. To her relief,Samira's DI policy contains a special rider that would cover up to $250 per day for these types ofexpenses.What is the name of the rider contained in Samira's policy? 

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?