[May 13, 2026] Prepare For The LLQP Question Papers In Advance [Q84-Q99]

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[May 13, 2026] Prepare For The LLQP Question Papers In Advance

LLQP PDF Dumps Real 2026 Recently Updated Questions

NO.84 Ashley meets with her life insurance agent for a needs analysis. She wants her two kids, currently nine and seven, to be well provided for in the event of her untimely death. Ashley is also concerned about the tax liability that her RRSPs will create for her children. Her need for life insurance is determined to be $800,000 to support the children and $50,000 for the tax liability.
Ashley decides to purchase a term life insurance policy to provide for her young children if need be, and a permanent policy for the tax liability.
How should Ashley set up the beneficiary designations?

Name her estate as the beneficiary of both policies.

Name the children, with a trustee, as the beneficiaries of both policies.

Name her estate as the beneficiary of the term policy and the children, with a trustee, as the beneficiaries of the permanent policy.

Name her estate as the beneficiary of the permanent policy and the children, with a trustee, as the beneficiaries of the term policy.

NO.85 Eloise has critical illness coverage through her group insurance plan at work. She is 54 years old, in excellent health, and is planning to retire soon. She meets with Sonia, her insurance agent, to plan her retirement and to make sure she will still be covered in the event of critical illness. To make sure she is not a burden on her family, Eloise would also like to receive monthly benefits in the event she is placed in an assisted living facility. What should Sonia tell her?

That the critical illness coverage under her group plan is the least expensive and that the insurer will have to give her the option of converting it into individual insurance when she retires.

That the critical illness coverage under her group plan will end when she retires and that she should consider purchasing individual coverage.

That her critical illness coverage will end when she retires and that she should consider purchasing individual critical illness and long-term care insurance.

That when she retires, she should purchase individual disability insurance, which would give herthe coverage required in the event of critical illness.

NO.86 Oliver, an insurance agent, meets with Roman and Julie. They are a married couple with a five-year-old son William. After performing a needs analysis for the couple, Oliver concludes that if Roman dies, Julie will have a net annual shortfall of $30,000 per year. Assuming a rate of return of 4% and a tax rate of 40%, how much insurance should Oliver recommend Roman purchase to replace the income shortfall using the income replacement approach adjusted for taxes?

$390,000

$750,000

$1,250,000

$1,875,000

NO.87 Manitoba resident Patrice works for ABC Inc. where he is covered by group life insurance. He consults Louise, his insurance agent, because he wants to maintain some life insurance coverage when he retires at age
65.
How much of Patrice’s group life insurance can he convert to individual life insurance coverage when he retires?

None, because he must leave the plan.

The amount of his group life insurance coverage by providing proof of insurability.

Up to $200,000 without proof of insurability.

Up to $200,000 with proof of insurability.

NO.88 Sasha is an employee at PranaTech. The company offers all employees a pension plan. PranaTech must contribute into the plan, but employee contributions are not mandatory. Sasha chooses where his funds will be invested.

Defined contribution pension plan.

Defined benefit pension plan.

Deferred profit sharing plan.

Group registered retirement savings plan.

NO.89 (Harry, aged 60, recently sold his business and plans to invest $100,000 in segregated equity fund contracts. He wants to minimize costs but has a family history of early death.
What maturity and death benefit guarantees would be most appropriate?)

75%/75%

75%/100%

100%/75%

100%/100%

NO.90 Coraline owns a $250,000 whole life insurance policy. She purchased the policy last year and does not have any funds accumulated in her cash surrender value (CSV). On December 30, Coraline assigns the policy to the cancer foundation, and she plans on continuing to pay the $200 monthly premium. Coraline calls her accountant James to ask him how much of her donation she will be able to use to obtain a charitable tax credit this year.

$200

$2,400

$250,000

NO.91 Akeno is a 65-year-old retired accountant. He is divorced and has a 40-year-old son who is financially independent. Thanks to years of diligent savings, Akeno now enjoys a comfortable retirement. In addition to his pension income, he has over $300,000 invested in shares in his non-registered account. He lives in a mortgage-free home valued at $700,000 and owns a cottage valued at $500,000. The mortgage on the cottage is $100,000. Akeno purchased the homes 30 years ago when housing prices were low. It is important to him to donate $100,000 to the Alzheimer’s Association when he dies. What is the GREATEST financial risk that would arise in the event of Akeno’s death?

Loss of income.

Debt repayment.

Income tax.

Estate creation.

NO.92 (Nancy has invested $100,000 in mining company stocks in her local area.
To which of the following risks is Nancy most exposed?)

Interest rate risk

Inflation risk

Industry risk

Liquidity risk

NO.93 (Ten years ago, Yamina invested $2,500 in a segregated fund contract with a 75%/100% guarantee structure. The market value of the contract peaked at $4,500 but then fell. Now, at maturity, the units are worth $2,250.
How much can Yamina expect to receive?)

$3,375

$2,500

$2,250

$1,875

NO.94 Alexandre has just become a father. He wishes to take out a life insurance policy from Antoine, an insurance of persons representative. During their meeting, Alexandre mentions his love of mountain climbing. What should Antoine do?

Warn Alexandre that no insurer covers activities such as mountain climbing, which are considered legal exclusions under the Civil Code of Quebec

Check and explain the policy’s exclusion clauses, because the insurer could turn down the claim if Alexandre dies while mountain climbing

Specify that the Charter of Human Rights and Freedoms only allows exclusions based on age, gender, or civil status in insurance contracts

Explain only the insurance policy’s general coverage clauses

NO.95 Becky opened a small bakery five years ago. Although she struggled at first, her business hasbecome increasingly successful. Until recently, she only had two full-time employees, but now she hired two more and relocated the store to a busier street. The rent is higher, and so are the profits. As the bakery expands, however, Becky is becoming increasingly concerned about what would happen to it if she became unable to work-even for just a few months-due to an illness or an injury. Which one of the following options would most suitably protect Becky’s business against such a risk?

Business overhead expense insurance.

Disability buyout insurance.

Personal disability insurance.

Self-funding arrangement.

NO.96 Owen meets with his insurance agent, Rachel, to review his investments. Owen is interested in segregated funds. In particular, he wants to know more about the reset feature.
What should Rachel tell Owen about resetting his funds?

All segregated funds offer a reset feature.

The reset feature may be automatic.

There is no additional cost for a fund that provides a reset feature.

The reset feature can be used if the market value increases or decreases.

NO.97 Denise, age 45, is a member of her employer’s group insurance plan, which provides disability protection for
60% of her annual salary of $60,000. Louis, her 42-year-old spouse, is self-employed, has an annual income of $45,000, and no disability protection. As parents of three teenagers, Denise and Louis need $6,000 a month to meet their financial obligations with respect to such expenses as housing, food, car, clothing, and entertainment. Which of the following best characterizes Denise and Louis’ current protection?

The likelihood of Denise and Louis becoming disabled at the same time is almost zero. So, there is no need for additional protection.

In the event Denise is disabled, she will receive $3,000/month. Along with Louis’ monthly income of
$3,750, the couple will have no difficulty meeting their financial obligations, so there is no need for additional protection.

Denise should increase her group insurance protection to cover 75% of her income.

In the event Louis is disabled and has no monthly income, Denise’s income will be insufficient to meet the couple’s financial obligations. It is recommended that Louis take out insurance to protect up to 60% of his income.

NO.98 (Ulysses, aged 35, is a risk taker who likes to concentrate investments in specific industries expecting higher returns long term.
Which feature of segregated funds will be most appealing to Ulysses?)

Creditor protection

Death benefit guarantee

Right of rescission

Resets

NO.99 Life insurance agent Bernardine meets with Albert, a new 47-year-old client, to review his investor profile. In doing so, Bernardine notes that Albert faces a very real risk of losing his job.
Which type of investment would best suit Albert to guard against such a risk?

An investment that can be cashed out quickly without a decrease in value.

An investment that provides lifelong income, like an annuity.

An investment that provides creditor protection.

An investment that provides broad diversification.

According to the LLQP Segregated Funds and Annuities and Investment & Savings curriculum, one of the key personal risks that must be considered when assessing an investor profile is the risk of job loss. When a client faces a real possibility of unemployment, the primary financial concern is access to funds to cover living expenses during a period of reduced or lost income.
In this scenario, Albert’s most immediate need is liquidity. Liquidity refers to how quickly and easily an investment can be converted into cash without significant loss of value. The LLQP study guide emphasizes that highly liquid investments are especially important for short-term needs, emergency funds, and situations where income may be interrupted. Examples include savings accounts, money market funds, or cashable low- risk instruments that preserve capital.
Option A correctly addresses this need by identifying an investment that can be cashed out quickly without a decrease in value. Such investments allow Albert to maintain financial flexibility if he loses his job, ensuring that he can meet essential expenses like mortgage payments, utilities, and groceries without being forced to sell long-term or volatile investments at an inopportune time.
The other options are not appropriate given Albert’s situation. Annuities provide long-term, often irreversible income streams and are not suitable for clients who may need immediate access to capital. Creditor protection is relevant for individuals at risk of lawsuits or business failure, not income interruption from job loss. Broad diversification helps manage market risk but does not solve the problem of short-term cash needs during unemployment.
The LLQP curriculum clearly states that investments should be aligned with both financial objectives and personal risk factors, including employment stability. When employment risk is high, liquidity becomes the dominant consideration.
Therefore, based on LLQP-approved investor profiling principles, the correct answer is Option A, an investment that can be accessed quickly without a loss in value.