{"id":103684,"date":"2025-06-12T08:12:07","date_gmt":"2025-06-12T08:12:07","guid":{"rendered":"https:\/\/www.dumpsbase.com\/freedumps\/?p=103684"},"modified":"2025-07-29T03:47:32","modified_gmt":"2025-07-29T03:47:32","slug":"strengthen-your-life-license-qualification-program-llqp-exam-preparation-with-llqp-dumps-v9-02-we-share-the-llqp-free-dumps-part-1-q1-q40-online","status":"publish","type":"post","link":"https:\/\/www.dumpsbase.com\/freedumps\/strengthen-your-life-license-qualification-program-llqp-exam-preparation-with-llqp-dumps-v9-02-we-share-the-llqp-free-dumps-part-1-q1-q40-online.html","title":{"rendered":"Strengthen Your Life License Qualification Program (LLQP) Exam Preparation with LLQP Dumps (V9.02): We Share the LLQP Free Dumps (Part 1, Q1-Q40) Online"},"content":{"rendered":"<p>You can strengthen your Life License Qualification Program (LLQP) exam preparation with the most updated dumps of DumpsBase. We have updated the LLQP dumps to V9.02, providing 298 practice exam questions and answers for learning. Using the LLQP dumps (V9.02) of DumpsBase is a reliable solution to help you master the exam content. We always offer meticulously compiled LLQP exam dumps that reflect the most recent updates in the actual Life License Qualification Program (LLQP) syllabus. With questions structured to match the template, difficulty level, and topics of the genuine test, the LLQP dumps (V9.02) are designed to sharpen your skills and help you focus on the content that matters most. At DumpsBase, you can check free demos to find if the LLQP dumps (V9.02) are valuable for use. Today, we will share the LLQP free dumps (Part 1, Q1-Q40) first.<\/p>\n<h2>Start reading the <em><span style=\"background-color: #00ff00;\">LLQP free dumps (Part 1, Q1-Q40) of V9.02 below<\/span><\/em>:<\/h2>\n<script>\n\t  window.fbAsyncInit = function() {\n\t    FB.init({\n\t      appId            : '622169541470367',\n\t      autoLogAppEvents : true,\n\t      xfbml            : true,\n\t      version          : 'v3.1'\n\t    });\n\t  };\n\t\n\t  (function(d, s, id){\n\t     var js, fjs = d.getElementsByTagName(s)[0];\n\t     if (d.getElementById(id)) {return;}\n\t     js = d.createElement(s); js.id = id;\n\t     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n\t     fjs.parentNode.insertBefore(js, fjs);\n\t   }(document, 'script', 'facebook-jssdk'));\n\t<\/script><script type=\"text\/javascript\" >\ndocument.addEventListener(\"DOMContentLoaded\", function(event) { \nif(!window.jQuery) alert(\"The important jQuery library is not properly loaded in your site. Your WordPress theme is probably missing the essential wp_head() call. You can switch to another theme and you will see that the plugin works fine and this notice disappears. If you are still not sure what to do you can contact us for help.\");\n});\n<\/script>  \n  \n<div  id=\"watupro_quiz\" class=\"quiz-area single-page-quiz\">\n<p id=\"submittingExam10056\" style=\"display:none;text-align:center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\"><\/p>\n\n<div class=\"watupro-exam-description\" id=\"description-quiz-10056\"><\/div>\n\n<form action=\"\" method=\"post\" class=\"quiz-form\" id=\"quiz-10056\"  enctype=\"multipart\/form-data\" >\n<div class='watu-question ' id='question-1' style=';'><div id='questionWrap-1'  class='   watupro-question-id-399578'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>1. <\/span>Harold is a 66-year-old retired school bus mechanic. He receives $900 a month from his defined benefit 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.<\/div><input type='hidden' name='question_id[]' id='qID_1' value='399578' \/><input type='hidden' id='answerType399578' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399578[]' id='answer-id-1551922' class='answer   answerof-399578 ' value='1551922'   \/><label for='answer-id-1551922' id='answer-label-1551922' class=' answer'><span>$0<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399578[]' id='answer-id-1551923' class='answer   answerof-399578 ' value='1551923'   \/><label for='answer-id-1551923' id='answer-label-1551923' class=' answer'><span>$450 to $495 depending on the province they reside.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399578[]' id='answer-id-1551924' class='answer   answerof-399578 ' value='1551924'   \/><label for='answer-id-1551924' id='answer-label-1551924' class=' answer'><span>$540 to $594 depending on the province they reside.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399578[]' id='answer-id-1551925' class='answer   answerof-399578 ' value='1551925'   \/><label for='answer-id-1551925' id='answer-label-1551925' class=' answer'><span>$900<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-2' style=';'><div id='questionWrap-2'  class='   watupro-question-id-399579'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>2. <\/span>Jasper is the sole breadwinner in his family. His wife Stephanie has chosen to dedicate all of her time to raising their 3 young children. Luckily, Jasper earns a monthly after-tax income of $25,000 working as a family doctor in the local clinic. Jasper meets with his insurance agent Odda to purchase a life insurance policy that will ensure his family will be able to continue to enjoy their current lifestyle in the event of his death. <br \/>\r<br>If his average tax rate is 40% and the investment return is 4%, how much life insurance should Jasper purchase based on the income replacement approach?<\/div><input type='hidden' name='question_id[]' id='qID_2' value='399579' \/><input type='hidden' id='answerType399579' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399579[]' id='answer-id-1551926' class='answer   answerof-399579 ' value='1551926'   \/><label for='answer-id-1551926' id='answer-label-1551926' class=' answer'><span>$625,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399579[]' id='answer-id-1551927' class='answer   answerof-399579 ' value='1551927'   \/><label for='answer-id-1551927' id='answer-label-1551927' class=' answer'><span>$1,041,666<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399579[]' id='answer-id-1551928' class='answer   answerof-399579 ' value='1551928'   \/><label for='answer-id-1551928' id='answer-label-1551928' class=' answer'><span>$7,500,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399579[]' id='answer-id-1551929' class='answer   answerof-399579 ' value='1551929'   \/><label for='answer-id-1551929' id='answer-label-1551929' class=' answer'><span>$12,500,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-3' style=';'><div id='questionWrap-3'  class='   watupro-question-id-399580'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>3. <\/span>Jasper owns Tele Vida, a successful production company with over 50 employees. He wants to expand the company by opening an office in another province. Jasper needs to take out a $500,000 20-year loan to make this expansion happen. However, he wants to make sure that if he dies while there\u2019s an outstanding balance on the loan, the balance will be paid in full by the insurance company.<\/div><input type='hidden' name='question_id[]' id='qID_3' value='399580' \/><input type='hidden' id='answerType399580' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399580[]' id='answer-id-1551930' class='answer   answerof-399580 ' value='1551930'   \/><label for='answer-id-1551930' id='answer-label-1551930' class=' answer'><span>20-year decreasing term life insurance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399580[]' id='answer-id-1551931' class='answer   answerof-399580 ' value='1551931'   \/><label for='answer-id-1551931' id='answer-label-1551931' class=' answer'><span>20-year term life insurance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399580[]' id='answer-id-1551932' class='answer   answerof-399580 ' value='1551932'   \/><label for='answer-id-1551932' id='answer-label-1551932' class=' answer'><span>Term-100 life insurance policy.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399580[]' id='answer-id-1551933' class='answer   answerof-399580 ' value='1551933'   \/><label for='answer-id-1551933' id='answer-label-1551933' class=' answer'><span>Universal life insurance policy.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-4' style=';'><div id='questionWrap-4'  class='   watupro-question-id-399581'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>4. <\/span>Alana, Meaghan, and Beatrice are equal shareholders of Advanced Tech Inc. They each own 100 shares of the company. Each share is currently worth $5,000. They recently signed a cross-purchase buy-sell agreement that is funded by life insurance. <br \/>\r<br>What will happen under this agreement if Alana dies today?<\/div><input type='hidden' name='question_id[]' id='qID_4' value='399581' \/><input type='hidden' id='answerType399581' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399581[]' id='answer-id-1551934' class='answer   answerof-399581 ' value='1551934'   \/><label for='answer-id-1551934' id='answer-label-1551934' class=' answer'><span>Meaghan and Beatrice would each still own 100 shares of the company.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399581[]' id='answer-id-1551935' class='answer   answerof-399581 ' value='1551935'   \/><label for='answer-id-1551935' id='answer-label-1551935' class=' answer'><span>There would now be 200 outstanding shares of the company.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399581[]' id='answer-id-1551936' class='answer   answerof-399581 ' value='1551936'   \/><label for='answer-id-1551936' id='answer-label-1551936' class=' answer'><span>Each share would now be worth $7,500.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399581[]' id='answer-id-1551937' class='answer   answerof-399581 ' value='1551937'   \/><label for='answer-id-1551937' id='answer-label-1551937' class=' answer'><span>Alana\u2019s estate would receive a total of $500,000.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-5' style=';'><div id='questionWrap-5'  class='   watupro-question-id-399582'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>5. <\/span>Goran and Tanja married two years ago. Last year, they purchased and moved into a three-bedroom house in the suburbs. The current balance on their mortgage is $655,000. They meet with Ljubomir, an insurance agent, to purchase a joint term life insurance policy to cover the mortgage. When Ljubomir asks about their existing coverage, Goran shares that he has none. Tanja explains that she owns a universal life (UL) policy with a level death benefit of $50,000 and a cash surrender value (CSV) of $5,000, purchased 6 years ago from another agent. Tanja would like to surrender her UL policy and use the $5,000 CSV to pay for a trip to Europe. <br \/>\r<br>What additional information about Tanja's UL policy does Ljubomir need to collect?<\/div><input type='hidden' name='question_id[]' id='qID_5' value='399582' \/><input type='hidden' id='answerType399582' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399582[]' id='answer-id-1551938' class='answer   answerof-399582 ' value='1551938'   \/><label for='answer-id-1551938' id='answer-label-1551938' class=' answer'><span>The investment vehicle of the policy's CS<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399582[]' id='answer-id-1551939' class='answer   answerof-399582 ' value='1551939'   \/><label for='answer-id-1551939' id='answer-label-1551939' class=' answer'><span>The adjusted cost basis (ACB) and surrender charges of the policy's CS<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399582[]' id='answer-id-1551940' class='answer   answerof-399582 ' value='1551940'   \/><label for='answer-id-1551940' id='answer-label-1551940' class=' answer'><span>The dividends and paid-up additions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399582[]' id='answer-id-1551941' class='answer   answerof-399582 ' value='1551941'   \/><label for='answer-id-1551941' id='answer-label-1551941' class=' answer'><span>The premiums upon renewal.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-6' style=';'><div id='questionWrap-6'  class='   watupro-question-id-399583'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>6. <\/span>Maxine meets with Toshiko, an insurance agent for United Life, to purchase a $10 million universal life insurance policy. Once United Life reviews Maxine's file, they agree to insure her for $3 million. United Life then contacts Extra Life Company, who agrees to insure Maxine for the additional $7 million. Toshiko asks his supervisor Bob how the death benefit will be paid to Maxine's beneficiary when she dies.<\/div><input type='hidden' name='question_id[]' id='qID_6' value='399583' \/><input type='hidden' id='answerType399583' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399583[]' id='answer-id-1551942' class='answer   answerof-399583 ' value='1551942'   \/><label for='answer-id-1551942' id='answer-label-1551942' class=' answer'><span>United Life and Extra Life will each directly pay the beneficiary.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399583[]' id='answer-id-1551943' class='answer   answerof-399583 ' value='1551943'   \/><label for='answer-id-1551943' id='answer-label-1551943' class=' answer'><span>Extra Life will issue a cheque for $10 million.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399583[]' id='answer-id-1551944' class='answer   answerof-399583 ' value='1551944'   \/><label for='answer-id-1551944' id='answer-label-1551944' class=' answer'><span>United will issue a cheque for $10 million.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399583[]' id='answer-id-1551945' class='answer   answerof-399583 ' value='1551945'   \/><label for='answer-id-1551945' id='answer-label-1551945' class=' answer'><span>The full death benefit will be paid by Assuris.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-7' style=';'><div id='questionWrap-7'  class='   watupro-question-id-399584'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>7. <\/span>Maverick meets with Alyssa, an insurance agent, to review his life insurance needs. After completing the needs analysis, Alyssa suggests that Maverick purchase a $100,000 whole life insurance policy and add a critical illness (CI) benefit rider. <br \/>\r<br>Which of the following options is an advantage of adding the CI coverage as a rider instead of purchasing an individual CI policy?<\/div><input type='hidden' name='question_id[]' id='qID_7' value='399584' \/><input type='hidden' id='answerType399584' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399584[]' id='answer-id-1551946' class='answer   answerof-399584 ' value='1551946'   \/><label for='answer-id-1551946' id='answer-label-1551946' class=' answer'><span>It covers more illnesses than an individual policy.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399584[]' id='answer-id-1551947' class='answer   answerof-399584 ' value='1551947'   \/><label for='answer-id-1551947' id='answer-label-1551947' class=' answer'><span>Benefits are paid out as soon as the individual is diagnosed with a covered condition.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399584[]' id='answer-id-1551948' class='answer   answerof-399584 ' value='1551948'   \/><label for='answer-id-1551948' id='answer-label-1551948' class=' answer'><span>It is less expensive than an individual policy.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399584[]' id='answer-id-1551949' class='answer   answerof-399584 ' value='1551949'   \/><label for='answer-id-1551949' id='answer-label-1551949' class=' answer'><span>If he is diagnosed with a debilitating illness that does not endanger his life, he may still receive coverage.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-8' style=';'><div id='questionWrap-8'  class='   watupro-question-id-399585'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>8. <\/span>Axel owns a $150,000 whole life insurance policy with an accumulated cash surrender value (CSV) of $20,000. His monthly premiums are $300, due on the fifth day of each month. Axel misses his November 5 premium payment and then dies a few weeks later, on November 20.<\/div><input type='hidden' name='question_id[]' id='qID_8' value='399585' \/><input type='hidden' id='answerType399585' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399585[]' id='answer-id-1551950' class='answer   answerof-399585 ' value='1551950'   \/><label for='answer-id-1551950' id='answer-label-1551950' class=' answer'><span>$0<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399585[]' id='answer-id-1551951' class='answer   answerof-399585 ' value='1551951'   \/><label for='answer-id-1551951' id='answer-label-1551951' class=' answer'><span>$149,700<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399585[]' id='answer-id-1551952' class='answer   answerof-399585 ' value='1551952'   \/><label for='answer-id-1551952' id='answer-label-1551952' class=' answer'><span>$150,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399585[]' id='answer-id-1551953' class='answer   answerof-399585 ' value='1551953'   \/><label for='answer-id-1551953' id='answer-label-1551953' class=' answer'><span>$169,700<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-9' style=';'><div id='questionWrap-9'  class='   watupro-question-id-399586'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>9. <\/span>Germain is a life insurance agent. This morning, he receives a call from Jason, whose wife, Rosalie owned a $50,000 life insurance policy that she purchased from Germain seven years ago. Jason explains that Rosalie had a heart attack and died last week. Germain promises to help as much as he can.<\/div><input type='hidden' name='question_id[]' id='qID_9' value='399586' \/><input type='hidden' id='answerType399586' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399586[]' id='answer-id-1551954' class='answer   answerof-399586 ' value='1551954'   \/><label for='answer-id-1551954' id='answer-label-1551954' class=' answer'><span>He can provide the claim form to Jason and help him fill it out.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399586[]' id='answer-id-1551955' class='answer   answerof-399586 ' value='1551955'   \/><label for='answer-id-1551955' id='answer-label-1551955' class=' answer'><span>He can assure Jason that the payment will be made within 5 days after receipt of the claim.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399586[]' id='answer-id-1551956' class='answer   answerof-399586 ' value='1551956'   \/><label for='answer-id-1551956' id='answer-label-1551956' class=' answer'><span>He can inform Jason that the death benefit will be paid within 30 days of Rosalie\u2019s death.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399586[]' id='answer-id-1551957' class='answer   answerof-399586 ' value='1551957'   \/><label for='answer-id-1551957' id='answer-label-1551957' class=' answer'><span>He can assure Jason that he will settle the death benefit as quickly as possible.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-10' style=';'><div id='questionWrap-10'  class='   watupro-question-id-399587'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>10. <\/span>Maeve is an Ontario resident. Fifteen years ago, she purchased a $250,000 whole life insurance policy and named her husband Guillaume as the primary beneficiary and her 4-year-old son Edwin as the contingent beneficiary. Last week, Tasha, Maeve's insurance agent called her to ask if she has had any life changes that would warrant a meeting to review her insurance coverage. Maeve informs her that over the last year she divorced Guillaume and that she is now living with her new boyfriend Eduardo. Tasha asks to meet Maeve to review her beneficiary designation. <br \/>\r<br>Who will receive Maeve's death benefit if she dies today?<\/div><input type='hidden' name='question_id[]' id='qID_10' value='399587' \/><input type='hidden' id='answerType399587' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399587[]' id='answer-id-1551958' class='answer   answerof-399587 ' value='1551958'   \/><label for='answer-id-1551958' id='answer-label-1551958' class=' answer'><span>Guillaume<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399587[]' id='answer-id-1551959' class='answer   answerof-399587 ' value='1551959'   \/><label for='answer-id-1551959' id='answer-label-1551959' class=' answer'><span>Edwin<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399587[]' id='answer-id-1551960' class='answer   answerof-399587 ' value='1551960'   \/><label for='answer-id-1551960' id='answer-label-1551960' class=' answer'><span>Eduardo<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399587[]' id='answer-id-1551961' class='answer   answerof-399587 ' value='1551961'   \/><label for='answer-id-1551961' id='answer-label-1551961' class=' answer'><span>Maeve\u2019s estate<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-11' style=';'><div id='questionWrap-11'  class='   watupro-question-id-399588'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>11. <\/span>Six years ago, when Kacey was working as an active firefighter, she purchased a $200,000 30-year term life insurance policy. At the time, the insurance company rated her policy. Recently, she changed roles and now works for the fire department\u2019s public relations office, answering media calls and filling out paperwork. She meets with her insurance agent, Bernice, to ask if the insurer would consider reducing her premiums.<\/div><input type='hidden' name='question_id[]' id='qID_11' value='399588' \/><input type='hidden' id='answerType399588' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399588[]' id='answer-id-1551962' class='answer   answerof-399588 ' value='1551962'   \/><label for='answer-id-1551962' id='answer-label-1551962' class=' answer'><span>The premiums cannot be increased once the policy is issued.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399588[]' id='answer-id-1551963' class='answer   answerof-399588 ' value='1551963'   \/><label for='answer-id-1551963' id='answer-label-1551963' class=' answer'><span>The insurer cannot reduce the premium, but Kacey can apply for a new policy at a lower premium.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399588[]' id='answer-id-1551964' class='answer   answerof-399588 ' value='1551964'   \/><label for='answer-id-1551964' id='answer-label-1551964' class=' answer'><span>The premiums can be reduced only if the policy has been in force for more than two years.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399588[]' id='answer-id-1551965' class='answer   answerof-399588 ' value='1551965'   \/><label for='answer-id-1551965' id='answer-label-1551965' class=' answer'><span>Her premiums can be reduced since she is no longer a firefighter.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-12' style=';'><div id='questionWrap-12'  class='   watupro-question-id-399589'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>12. <\/span>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.<\/div><input type='hidden' name='question_id[]' id='qID_12' value='399589' \/><input type='hidden' id='answerType399589' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399589[]' id='answer-id-1551966' class='answer   answerof-399589 ' value='1551966'   \/><label for='answer-id-1551966' id='answer-label-1551966' class=' answer'><span>Renew her current policy at the same rate.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399589[]' id='answer-id-1551967' class='answer   answerof-399589 ' value='1551967'   \/><label for='answer-id-1551967' id='answer-label-1551967' class=' answer'><span>Renew the policy at an increased rate.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399589[]' id='answer-id-1551968' class='answer   answerof-399589 ' value='1551968'   \/><label for='answer-id-1551968' id='answer-label-1551968' class=' answer'><span>Renew her policy and restart the incontestability period.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399589[]' id='answer-id-1551969' class='answer   answerof-399589 ' value='1551969'   \/><label for='answer-id-1551969' id='answer-label-1551969' class=' answer'><span>Shop around for a better rate.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-13' style=';'><div id='questionWrap-13'  class='   watupro-question-id-399590'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>13. <\/span>Aaliyah is a 37-year-old account manager at a large pharmaceutical company. She earns $300,000 a year plus bonuses. She meets with Theo, an insurance agent, to review her life insurance needs. Theo deduces that Aaliyah needs a $250,000 universal life (UL) insurance policy. Aaliyah agrees but states that she wants to keep her premiums low. <br \/>\r<br>Which of the following UL death benefit options would BEST suit her needs?<\/div><input type='hidden' name='question_id[]' id='qID_13' value='399590' \/><input type='hidden' id='answerType399590' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399590[]' id='answer-id-1551970' class='answer   answerof-399590 ' value='1551970'   \/><label for='answer-id-1551970' id='answer-label-1551970' class=' answer'><span>Level death benefit.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399590[]' id='answer-id-1551971' class='answer   answerof-399590 ' value='1551971'   \/><label for='answer-id-1551971' id='answer-label-1551971' class=' answer'><span>Level death benefit plus account value.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399590[]' id='answer-id-1551972' class='answer   answerof-399590 ' value='1551972'   \/><label for='answer-id-1551972' id='answer-label-1551972' class=' answer'><span>Level death benefit plus cumulative premiums.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399590[]' id='answer-id-1551973' class='answer   answerof-399590 ' value='1551973'   \/><label for='answer-id-1551973' id='answer-label-1551973' class=' answer'><span>Indexed death benefit.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-14' style=';'><div id='questionWrap-14'  class='   watupro-question-id-399591'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>14. <\/span>Konrad is the owner of CrossBoy, a manufacturing company employing over 50 employees. Konrad recently took out a $500,000 loan to expand his business. Terrence works as a sales manager and is responsible for roughly 40% of the company\u2019s revenue. Konrad recognizes the importance of Terrence's contributions to the success of the company. Therefore, in addition to a sizeable basesalary, CrossBoy also pays Terrence regular performance-based bonuses. Konrad understands that if Terrence dies prematurely, CrossBoy would suffer financially. <br \/>\r<br>What should he do to protect his company?<\/div><input type='hidden' name='question_id[]' id='qID_14' value='399591' \/><input type='hidden' id='answerType399591' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399591[]' id='answer-id-1551974' class='answer   answerof-399591 ' value='1551974'   \/><label for='answer-id-1551974' id='answer-label-1551974' class=' answer'><span>Offer Terrence group life insurance plan.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399591[]' id='answer-id-1551975' class='answer   answerof-399591 ' value='1551975'   \/><label for='answer-id-1551975' id='answer-label-1551975' class=' answer'><span>Purchase business-owned buy-agreement with Terrence.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399591[]' id='answer-id-1551976' class='answer   answerof-399591 ' value='1551976'   \/><label for='answer-id-1551976' id='answer-label-1551976' class=' answer'><span>Purchase key person life insurance on Terrence.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399591[]' id='answer-id-1551977' class='answer   answerof-399591 ' value='1551977'   \/><label for='answer-id-1551977' id='answer-label-1551977' class=' answer'><span>Purchase criss-cross insurance with Terrence.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-15' style=';'><div id='questionWrap-15'  class='   watupro-question-id-399592'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>15. <\/span>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.<\/div><input type='hidden' name='question_id[]' id='qID_15' value='399592' \/><input type='hidden' id='answerType399592' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399592[]' id='answer-id-1551978' class='answer   answerof-399592 ' value='1551978'   \/><label for='answer-id-1551978' id='answer-label-1551978' class=' answer'><span>$0<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399592[]' id='answer-id-1551979' class='answer   answerof-399592 ' value='1551979'   \/><label for='answer-id-1551979' id='answer-label-1551979' class=' answer'><span>$200<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399592[]' id='answer-id-1551980' class='answer   answerof-399592 ' value='1551980'   \/><label for='answer-id-1551980' id='answer-label-1551980' class=' answer'><span>$2,400<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399592[]' id='answer-id-1551981' class='answer   answerof-399592 ' value='1551981'   \/><label for='answer-id-1551981' id='answer-label-1551981' class=' answer'><span>$250,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-16' style=';'><div id='questionWrap-16'  class='   watupro-question-id-399593'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>16. <\/span>Three years ago, Douglas purchased a whole life insurance policy with numerous supplementary benefits and riders. Today, he meets with his doctor who informs him that he has late-stage colon cancer and has only a few months to live. Even with surgery, his chances of survival are low. Douglas calls his insurance agent, Penny, to ask her what he should do to obtain a benefit immediately.<\/div><input type='hidden' name='question_id[]' id='qID_16' value='399593' \/><input type='hidden' id='answerType399593' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399593[]' id='answer-id-1551982' class='answer   answerof-399593 ' value='1551982'   \/><label for='answer-id-1551982' id='answer-label-1551982' class=' answer'><span>Dread disease benefit.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399593[]' id='answer-id-1551983' class='answer   answerof-399593 ' value='1551983'   \/><label for='answer-id-1551983' id='answer-label-1551983' class=' answer'><span>Terminal illness benefit.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399593[]' id='answer-id-1551984' class='answer   answerof-399593 ' value='1551984'   \/><label for='answer-id-1551984' id='answer-label-1551984' class=' answer'><span>Policy loan.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399593[]' id='answer-id-1551985' class='answer   answerof-399593 ' value='1551985'   \/><label for='answer-id-1551985' id='answer-label-1551985' class=' answer'><span>Policy withdrawal.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-17' style=';'><div id='questionWrap-17'  class='   watupro-question-id-399594'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>17. <\/span>Joseph, a retired jeweler, meets with Larry, an insurance agent with Summit Life Co., to review Joseph's life insurance needs. Joseph has made it clear in his will that upon his death, his son will inherit his collection of diamond necklaces, valued at $1.8 million. <br \/>\r<br>What type of asset is Joseph's diamond necklace collection considered to be?<\/div><input type='hidden' name='question_id[]' id='qID_17' value='399594' \/><input type='hidden' id='answerType399594' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399594[]' id='answer-id-1551986' class='answer   answerof-399594 ' value='1551986'   \/><label for='answer-id-1551986' id='answer-label-1551986' class=' answer'><span>Liquid asset.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399594[]' id='answer-id-1551987' class='answer   answerof-399594 ' value='1551987'   \/><label for='answer-id-1551987' id='answer-label-1551987' class=' answer'><span>Investment asset.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399594[]' id='answer-id-1551988' class='answer   answerof-399594 ' value='1551988'   \/><label for='answer-id-1551988' id='answer-label-1551988' class=' answer'><span>Fixed asset.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399594[]' id='answer-id-1551989' class='answer   answerof-399594 ' value='1551989'   \/><label for='answer-id-1551989' id='answer-label-1551989' class=' answer'><span>Pension asset.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-18' style=';'><div id='questionWrap-18'  class='   watupro-question-id-399595'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>18. <\/span>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. <br \/>\r<br>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?<\/div><input type='hidden' name='question_id[]' id='qID_18' value='399595' \/><input type='hidden' id='answerType399595' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399595[]' id='answer-id-1551990' class='answer   answerof-399595 ' value='1551990'   \/><label for='answer-id-1551990' id='answer-label-1551990' class=' answer'><span>$390,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399595[]' id='answer-id-1551991' class='answer   answerof-399595 ' value='1551991'   \/><label for='answer-id-1551991' id='answer-label-1551991' class=' answer'><span>$750,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399595[]' id='answer-id-1551992' class='answer   answerof-399595 ' value='1551992'   \/><label for='answer-id-1551992' id='answer-label-1551992' class=' answer'><span>$1,250,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399595[]' id='answer-id-1551993' class='answer   answerof-399595 ' value='1551993'   \/><label for='answer-id-1551993' id='answer-label-1551993' class=' answer'><span>$1,875,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-19' style=';'><div id='questionWrap-19'  class='   watupro-question-id-399596'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>19. <\/span>Dr. Kumar owns a 10-year term life insurance policy with a level death benefit of $500,000 issued by <br \/>\r<br>Expert Health &amp; Life Inc. The policy is renewable, convertible to age 70, and contains no additional riders. Dr. Kumar is the life insured. She is single, has no dependents, and her estate is named as the policy\u2019s beneficiary. The current premiums are $365 per year, based on standard health, non-smoker rates. As the policy is due to renew in a few months, Dr. Kumar meets with Kavya, an insurance agent referred to her by a mutual friend. Kavya reviews all of the information presented above, but notices a missing detail. <br \/>\r<br>What additional information about Dr. Kumar's policy does Kavya need to complete her review?<\/div><input type='hidden' name='question_id[]' id='qID_19' value='399596' \/><input type='hidden' id='answerType399596' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399596[]' id='answer-id-1551994' class='answer   answerof-399596 ' value='1551994'   \/><label for='answer-id-1551994' id='answer-label-1551994' class=' answer'><span>The policy conversion age.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399596[]' id='answer-id-1551995' class='answer   answerof-399596 ' value='1551995'   \/><label for='answer-id-1551995' id='answer-label-1551995' class=' answer'><span>The policy death benefit amount at renewal.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399596[]' id='answer-id-1551996' class='answer   answerof-399596 ' value='1551996'   \/><label for='answer-id-1551996' id='answer-label-1551996' class=' answer'><span>The policy cash surrender value (CSV).<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399596[]' id='answer-id-1551997' class='answer   answerof-399596 ' value='1551997'   \/><label for='answer-id-1551997' id='answer-label-1551997' class=' answer'><span>The policy premiums upon renewal.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-20' style=';'><div id='questionWrap-20'  class='   watupro-question-id-399597'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>20. <\/span>Aari and Jonila are a married couple in their late sixties. They both enjoy a comfortable retirement. Both receive regular payments from their pension plans, Old Age Security (OAS) and Canada Pension Plan (CPP). They own a house and a cottage that are both mortgage-free. They also have over $500,000 in savings and investments. They know that if one of them dies, the surviving spouse will be financially comfortable. The couple has two grown children to whom they would like to leave all their assets when they die. The couple informs Herbert, their insurance agent, that they want to make sure when they die that their children have the funds needed to pay the taxes on the assets that they will bequeath them. <br \/>\r<br>Which life insurance policy would be most suited to meet the couple's needs?<\/div><input type='hidden' name='question_id[]' id='qID_20' value='399597' \/><input type='hidden' id='answerType399597' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399597[]' id='answer-id-1551998' class='answer   answerof-399597 ' value='1551998'   \/><label for='answer-id-1551998' id='answer-label-1551998' class=' answer'><span>A permanent joint last-to-die policy on Aari and Jonila.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399597[]' id='answer-id-1551999' class='answer   answerof-399597 ' value='1551999'   \/><label for='answer-id-1551999' id='answer-label-1551999' class=' answer'><span>A permanent joint first-to-die policy on Aari and Jonila.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399597[]' id='answer-id-1552000' class='answer   answerof-399597 ' value='1552000'   \/><label for='answer-id-1552000' id='answer-label-1552000' class=' answer'><span>A term joint last-to-die policy on Aari and Jonila.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399597[]' id='answer-id-1552001' class='answer   answerof-399597 ' value='1552001'   \/><label for='answer-id-1552001' id='answer-label-1552001' class=' answer'><span>A term joint first-to-die policy on Aari and Jonila.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-21' style=';'><div id='questionWrap-21'  class='   watupro-question-id-399598'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>21. <\/span>Johann owns a $250,000 whole life insurance policy. The policy has a cash surrender value (CSV) of $55,000 and an adjusted cost basis (ACB) of $30,000. Johann would like to cancel his policy and use the cash surrender value to fund a new business. <br \/>\r<br>If his marginal tax rate is 40%, how much will he have left after cancelling his policy?<\/div><input type='hidden' name='question_id[]' id='qID_21' value='399598' \/><input type='hidden' id='answerType399598' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399598[]' id='answer-id-1552002' class='answer   answerof-399598 ' value='1552002'   \/><label for='answer-id-1552002' id='answer-label-1552002' class=' answer'><span>$30,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399598[]' id='answer-id-1552003' class='answer   answerof-399598 ' value='1552003'   \/><label for='answer-id-1552003' id='answer-label-1552003' class=' answer'><span>$33,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399598[]' id='answer-id-1552004' class='answer   answerof-399598 ' value='1552004'   \/><label for='answer-id-1552004' id='answer-label-1552004' class=' answer'><span>$45,000<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399598[]' id='answer-id-1552005' class='answer   answerof-399598 ' value='1552005'   \/><label for='answer-id-1552005' id='answer-label-1552005' class=' answer'><span>$55,000<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-22' style=';'><div id='questionWrap-22'  class='   watupro-question-id-399599'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>22. <\/span>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. <br \/>\r<br>What is the GREATEST financial risk that would arise in the event of Akeno\u2019s death?<\/div><input type='hidden' name='question_id[]' id='qID_22' value='399599' \/><input type='hidden' id='answerType399599' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399599[]' id='answer-id-1552006' class='answer   answerof-399599 ' value='1552006'   \/><label for='answer-id-1552006' id='answer-label-1552006' class=' answer'><span>Loss of income.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399599[]' id='answer-id-1552007' class='answer   answerof-399599 ' value='1552007'   \/><label for='answer-id-1552007' id='answer-label-1552007' class=' answer'><span>Debt repayment.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399599[]' id='answer-id-1552008' class='answer   answerof-399599 ' value='1552008'   \/><label for='answer-id-1552008' id='answer-label-1552008' class=' answer'><span>Income tax.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399599[]' id='answer-id-1552009' class='answer   answerof-399599 ' value='1552009'   \/><label for='answer-id-1552009' id='answer-label-1552009' class=' answer'><span>Estate creation.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-23' style=';'><div id='questionWrap-23'  class='   watupro-question-id-399600'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>23. <\/span>Bethenny meets with Harrison, an insurance agent, to review her life insurance needs. Bethenny is a single mother of a 3-year-old daughter named Emma. Bethenny's main concern is that Emma is taken care of financially if Bethenny were to die prematurely. Emma\u2019s father Steve suffers from chronic alcoholism and is homeless. He has not been present in Emma's day-to-day life. After careful analysis, Harrison suggests that Bethenny purchase a $250,000 20-year term insurance policy. <br \/>\r<br>Given Bethenny's situation, who should she name as a beneficiary on her policy?<\/div><input type='hidden' name='question_id[]' id='qID_23' value='399600' \/><input type='hidden' id='answerType399600' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399600[]' id='answer-id-1552010' class='answer   answerof-399600 ' value='1552010'   \/><label for='answer-id-1552010' id='answer-label-1552010' class=' answer'><span>Her estate.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399600[]' id='answer-id-1552011' class='answer   answerof-399600 ' value='1552011'   \/><label for='answer-id-1552011' id='answer-label-1552011' class=' answer'><span>Emma.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399600[]' id='answer-id-1552012' class='answer   answerof-399600 ' value='1552012'   \/><label for='answer-id-1552012' id='answer-label-1552012' class=' answer'><span>A trustee.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399600[]' id='answer-id-1552013' class='answer   answerof-399600 ' value='1552013'   \/><label for='answer-id-1552013' id='answer-label-1552013' class=' answer'><span>Steve.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-24' style=';'><div id='questionWrap-24'  class='   watupro-question-id-399601'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>24. <\/span>Anita is a 50-year-old woman who is thinking of purchasing a $150,000 permanent life insurance policy to pay for the capital gains tax that will be payable on her country home upon her death. She had purchased the home twelve years ago and wants to bequeath the property to her niece when she dies. <br \/>\r<br>Which of the following features about a permanent insurance policy is TRUE?<\/div><input type='hidden' name='question_id[]' id='qID_24' value='399601' \/><input type='hidden' id='answerType399601' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399601[]' id='answer-id-1552014' class='answer   answerof-399601 ' value='1552014'   \/><label for='answer-id-1552014' id='answer-label-1552014' class=' answer'><span>The coverage ends when Anita turns 100.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399601[]' id='answer-id-1552015' class='answer   answerof-399601 ' value='1552015'   \/><label for='answer-id-1552015' id='answer-label-1552015' class=' answer'><span>The premiums will remain level for the duration of the contract.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399601[]' id='answer-id-1552016' class='answer   answerof-399601 ' value='1552016'   \/><label for='answer-id-1552016' id='answer-label-1552016' class=' answer'><span>The policy cannot be cancelled by Anita.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399601[]' id='answer-id-1552017' class='answer   answerof-399601 ' value='1552017'   \/><label for='answer-id-1552017' id='answer-label-1552017' class=' answer'><span>Anita must contact the insurer if there is a change in the insurability.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-25' style=';'><div id='questionWrap-25'  class='   watupro-question-id-399602'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>25. <\/span>Francis owns a $250,000 insurance policy with an accidental death and dismemberment (AD&amp;D) rider. Francis calls his insurance agent Andrew to inform him that he permanently lost the use of his right hand. He explains to Andrew that his brother shot him when he broke into his brother\u2019s house to recover a gold watch that was rightfully his. Francis wants to know how much he will receive from his AD&amp;D rider.<\/div><input type='hidden' name='question_id[]' id='qID_25' value='399602' \/><input type='hidden' id='answerType399602' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399602[]' id='answer-id-1552018' class='answer   answerof-399602 ' value='1552018'   \/><label for='answer-id-1552018' id='answer-label-1552018' class=' answer'><span>Francis will receive a benefit of $165,000.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399602[]' id='answer-id-1552019' class='answer   answerof-399602 ' value='1552019'   \/><label for='answer-id-1552019' id='answer-label-1552019' class=' answer'><span>Francis will receive a benefit of $187,500.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399602[]' id='answer-id-1552020' class='answer   answerof-399602 ' value='1552020'   \/><label for='answer-id-1552020' id='answer-label-1552020' class=' answer'><span>Francis will receive a benefit of $250,000.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399602[]' id='answer-id-1552021' class='answer   answerof-399602 ' value='1552021'   \/><label for='answer-id-1552021' id='answer-label-1552021' class=' answer'><span>Francis will not receive any benefit.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-26' style=';'><div id='questionWrap-26'  class='   watupro-question-id-399603'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>26. <\/span>Larissa is a 65-year-old retired marketing executive. She is single and has no dependents. Larissa accepted a generous retirement package from her employer five years ago and used her early retirement cash bonus to consolidate her financial affairs. She paid off mortgages on both her principal residence (a condo) and her vacation cottage. The fair market value (FMV) of the real estate increased significantly over the years. She named her sister Natalya as the sole beneficiary of her estate. In addition to the two properties, Larissa's estate includes a registered retirement savings plan (RRSP) and shares of Apple Inc. that she purchased in her tax-free savings account (TFSA) 10 years ago. <br \/>\r<br>If Larissa were to pass away today, which of her assets would be fully taxable on her final income tax return?<\/div><input type='hidden' name='question_id[]' id='qID_26' value='399603' \/><input type='hidden' id='answerType399603' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399603[]' id='answer-id-1552022' class='answer   answerof-399603 ' value='1552022'   \/><label for='answer-id-1552022' id='answer-label-1552022' class=' answer'><span>The condo.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399603[]' id='answer-id-1552023' class='answer   answerof-399603 ' value='1552023'   \/><label for='answer-id-1552023' id='answer-label-1552023' class=' answer'><span>The cottage.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399603[]' id='answer-id-1552024' class='answer   answerof-399603 ' value='1552024'   \/><label for='answer-id-1552024' id='answer-label-1552024' class=' answer'><span>The TFS<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399603[]' id='answer-id-1552025' class='answer   answerof-399603 ' value='1552025'   \/><label for='answer-id-1552025' id='answer-label-1552025' class=' answer'><span>The RRS<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-27' style=';'><div id='questionWrap-27'  class='   watupro-question-id-399604'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>27. <\/span>Svetlana is a 45-year-old single mother with two children: Georgi 17; and Ingrid 13. The children's father, Vladimir, has a serious gambling problem and only visits them sporadically. Vladimir's younger brother Sergei, on the other hand, is a dependable and helpful uncle who helps Svetlana regularly with the children. Svetlana meets with Robert, an insurance agent to review her life insurance needs because she wants to make sure that her children are taken care of if she were to die prematurely. Robert suggests that she purchase a $200,000 policy. <br \/>\r<br>Who should she name as a beneficiary?<\/div><input type='hidden' name='question_id[]' id='qID_27' value='399604' \/><input type='hidden' id='answerType399604' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399604[]' id='answer-id-1552026' class='answer   answerof-399604 ' value='1552026'   \/><label for='answer-id-1552026' id='answer-label-1552026' class=' answer'><span>Georgi and Ingrid but name Vladimir as a trustee.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399604[]' id='answer-id-1552027' class='answer   answerof-399604 ' value='1552027'   \/><label for='answer-id-1552027' id='answer-label-1552027' class=' answer'><span>Georgi and Ingrid but name Sergei as a trustee.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399604[]' id='answer-id-1552028' class='answer   answerof-399604 ' value='1552028'   \/><label for='answer-id-1552028' id='answer-label-1552028' class=' answer'><span>Sergei<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399604[]' id='answer-id-1552029' class='answer   answerof-399604 ' value='1552029'   \/><label for='answer-id-1552029' id='answer-label-1552029' class=' answer'><span>Vladimir<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-28' style=';'><div id='questionWrap-28'  class='   watupro-question-id-399605'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>28. <\/span>Edna is a 62-year-old widow living in Quebec. She meets with Yolanda, her insurance agent. Edna worked part-time her whole life as a seamstress and has no savings. Her husband Donald had been working as a greeter at the local box store until his death 2 months ago at the age of 67. Since his passing, Edna has been struggling financially. <br \/>\r<br>She would like to know which of the following organizations will immediately pay her a benefit?<\/div><input type='hidden' name='question_id[]' id='qID_28' value='399605' \/><input type='hidden' id='answerType399605' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399605[]' id='answer-id-1552030' class='answer   answerof-399605 ' value='1552030'   \/><label for='answer-id-1552030' id='answer-label-1552030' class=' answer'><span>Workers' Compensation.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399605[]' id='answer-id-1552031' class='answer   answerof-399605 ' value='1552031'   \/><label for='answer-id-1552031' id='answer-label-1552031' class=' answer'><span>Old Age Security (OAS) allowance for surviving spouse.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399605[]' id='answer-id-1552032' class='answer   answerof-399605 ' value='1552032'   \/><label for='answer-id-1552032' id='answer-label-1552032' class=' answer'><span>Canada Pension Plan (CPP) survivor benefits.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399605[]' id='answer-id-1552033' class='answer   answerof-399605 ' value='1552033'   \/><label for='answer-id-1552033' id='answer-label-1552033' class=' answer'><span>She will not receive any benefit.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-29' style=';'><div id='questionWrap-29'  class='   watupro-question-id-399606'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>29. <\/span>On February 5, Ayla started working at Larson Group Inc. as an administrative assistant. Larson Group offers all employees a group health, dental and life insurance plan that commences after a 3-month waiting period. On April 7, Ayla felt ill and drove herself to the hospital. The doctor diagnosed two <br \/>\r<br>clogged arteries and performed an emergency surgery. Ayla was unable to work for 2 months, then died of complications on June 9. <br \/>\r<br>Will the group insurance plan pay the death benefit?<\/div><input type='hidden' name='question_id[]' id='qID_29' value='399606' \/><input type='hidden' id='answerType399606' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399606[]' id='answer-id-1552034' class='answer   answerof-399606 ' value='1552034'   \/><label for='answer-id-1552034' id='answer-label-1552034' class=' answer'><span>Yes, because she died of natural causes.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399606[]' id='answer-id-1552035' class='answer   answerof-399606 ' value='1552035'   \/><label for='answer-id-1552035' id='answer-label-1552035' class=' answer'><span>Yes, because her group life coverage started on May 5.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399606[]' id='answer-id-1552036' class='answer   answerof-399606 ' value='1552036'   \/><label for='answer-id-1552036' id='answer-label-1552036' class=' answer'><span>No, because Ayla was not actively at work when the coverage started.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399606[]' id='answer-id-1552037' class='answer   answerof-399606 ' value='1552037'   \/><label for='answer-id-1552037' id='answer-label-1552037' class=' answer'><span>No, because Ayla did not provide the insurer with any proof of insurability.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-30' style=';'><div id='questionWrap-30'  class='   watupro-question-id-399607'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>30. <\/span>Bea is a married 65-year-old woman applying for a life insurance policy. She meets with Stanley, her insurance agent, to review her insurance needs. Stanley inquires if Bea has started receiving Old Age Security (OAS) and Canada Pension Plan (CPP) benefits. <br \/>\r<br>Why is it important for Stanley to know this?<\/div><input type='hidden' name='question_id[]' id='qID_30' value='399607' \/><input type='hidden' id='answerType399607' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399607[]' id='answer-id-1552038' class='answer   answerof-399607 ' value='1552038'   \/><label for='answer-id-1552038' id='answer-label-1552038' class=' answer'><span>These funds are taxable and may increase her need for life insurance.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399607[]' id='answer-id-1552039' class='answer   answerof-399607 ' value='1552039'   \/><label for='answer-id-1552039' id='answer-label-1552039' class=' answer'><span>Her life insurance needs may decrease if she is retired.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399607[]' id='answer-id-1552040' class='answer   answerof-399607 ' value='1552040'   \/><label for='answer-id-1552040' id='answer-label-1552040' class=' answer'><span>Her spouse may be eligible for survivor benefits upon her death.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399607[]' id='answer-id-1552041' class='answer   answerof-399607 ' value='1552041'   \/><label for='answer-id-1552041' id='answer-label-1552041' class=' answer'><span>To calculate her retirement income.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-31' style=';'><div id='questionWrap-31'  class='   watupro-question-id-399608'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>31. <\/span>Cassie applies for a $100,000 renewable 10-year term insurance policy through Mason, her insurance of persons representative. A month later, when Mason meets with Cassie again to deliver her contract, Cassie says she had to have a biopsy the previous week for a persistent cough. Mason tells her not to worry because the policy is already accepted. He completes the policy delivery. Six months later, Mason receives a call from Cassie's boyfriend informing him that Cassie died of stage 4 throat cancer. <br \/>\r<br>How will the insurance company handle the claim?<\/div><input type='hidden' name='question_id[]' id='qID_31' value='399608' \/><input type='hidden' id='answerType399608' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399608[]' id='answer-id-1552042' class='answer   answerof-399608 ' value='1552042'   \/><label for='answer-id-1552042' id='answer-label-1552042' class=' answer'><span>No death benefit will be paid because Cassie died within 2 years of obtaining the policy.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399608[]' id='answer-id-1552043' class='answer   answerof-399608 ' value='1552043'   \/><label for='answer-id-1552043' id='answer-label-1552043' class=' answer'><span>No death benefit will be paid because Mason did not inform the insurance company of the change in Cassie\u2019s insurability.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399608[]' id='answer-id-1552044' class='answer   answerof-399608 ' value='1552044'   \/><label for='answer-id-1552044' id='answer-label-1552044' class=' answer'><span>The death benefit will be paid because Cassie visited the doctor after filling out the application form.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399608[]' id='answer-id-1552045' class='answer   answerof-399608 ' value='1552045'   \/><label for='answer-id-1552045' id='answer-label-1552045' class=' answer'><span>The death benefit will be paid although Mason was negligent for delivering the policy and he would be liable towards the insurer.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-32' style=';'><div id='questionWrap-32'  class='   watupro-question-id-399609'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>32. <\/span>Everett is an insurance of persons representative who works exclusively for Moon Life Insurance. He wants to leave the company and become an independent representative. He knows that before he branches out on his own, he needs to ensure he has sufficient liability insurance. <br \/>\r<br>Which of the following statements about his professional liability insurance is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_32' value='399609' \/><input type='hidden' id='answerType399609' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399609[]' id='answer-id-1552046' class='answer   answerof-399609 ' value='1552046'   \/><label for='answer-id-1552046' id='answer-label-1552046' class=' answer'><span>His liability insurance must have coverage of not less than $1,500,000 per claim.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399609[]' id='answer-id-1552047' class='answer   answerof-399609 ' value='1552047'   \/><label for='answer-id-1552047' id='answer-label-1552047' class=' answer'><span>If a contract has a deductible, it may not exceed $20,000.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399609[]' id='answer-id-1552048' class='answer   answerof-399609 ' value='1552048'   \/><label for='answer-id-1552048' id='answer-label-1552048' class=' answer'><span>This insurance covers gross faults committed by an insurance representative.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399609[]' id='answer-id-1552049' class='answer   answerof-399609 ' value='1552049'   \/><label for='answer-id-1552049' id='answer-label-1552049' class=' answer'><span>Professional liability insurance covers fraud or misappropriation.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-33' style=';'><div id='questionWrap-33'  class='   watupro-question-id-399610'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>33. <\/span>Danny purchases a $1,000,000 whole life insurance policy. He names his three daughters, Donna-Joe, Stephanie, and Michelle, as revocable beneficiaries with each receiving one-third of the death benefit. <br \/>\r<br>If Michelle predeceases Danny, and Danny did not have a chance to modify his beneficiary designation, how will Danny\u2019s death benefit be paid out?<\/div><input type='hidden' name='question_id[]' id='qID_33' value='399610' \/><input type='hidden' id='answerType399610' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399610[]' id='answer-id-1552050' class='answer   answerof-399610 ' value='1552050'   \/><label for='answer-id-1552050' id='answer-label-1552050' class=' answer'><span>Donna-Joe and Stephanie will each receive $500,000.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399610[]' id='answer-id-1552051' class='answer   answerof-399610 ' value='1552051'   \/><label for='answer-id-1552051' id='answer-label-1552051' class=' answer'><span>Donna-Joe and Stephanie will each receive $333,333 and Michelle's estate will receive $333,333.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399610[]' id='answer-id-1552052' class='answer   answerof-399610 ' value='1552052'   \/><label for='answer-id-1552052' id='answer-label-1552052' class=' answer'><span>Donna-Joe and Stephanie will each receive $333,333 and Danny's estate will receive $333,333.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399610[]' id='answer-id-1552053' class='answer   answerof-399610 ' value='1552053'   \/><label for='answer-id-1552053' id='answer-label-1552053' class=' answer'><span>Danny\u2019s estate will receive the entire $1,000,000 death benefit.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-34' style=';'><div id='questionWrap-34'  class='   watupro-question-id-399611'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>34. <\/span>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. <br \/>\r<br>Which of the following standards of conduct did Arianna contravene?<\/div><input type='hidden' name='question_id[]' id='qID_34' value='399611' \/><input type='hidden' id='answerType399611' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399611[]' id='answer-id-1552054' class='answer   answerof-399611 ' value='1552054'   \/><label for='answer-id-1552054' id='answer-label-1552054' class=' answer'><span>Duties and obligations towards the public.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399611[]' id='answer-id-1552055' class='answer   answerof-399611 ' value='1552055'   \/><label for='answer-id-1552055' id='answer-label-1552055' class=' answer'><span>Duties and obligations towards clients.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399611[]' id='answer-id-1552056' class='answer   answerof-399611 ' value='1552056'   \/><label for='answer-id-1552056' id='answer-label-1552056' class=' answer'><span>Duties and obligations towards other representatives, firms, independent partnerships, insurers and financial institutions.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399611[]' id='answer-id-1552057' class='answer   answerof-399611 ' value='1552057'   \/><label for='answer-id-1552057' id='answer-label-1552057' class=' answer'><span>Duties and obligations towards the profession.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-35' style=';'><div id='questionWrap-35'  class='   watupro-question-id-399612'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>35. <\/span>Surjit and Rajbir get married in 2010 and Surjit names Rajbir as the irrevocable beneficiary of his life insurance contract. In 2017, the couple divorces amiably and Surjit meets with his insurance representative, Ivan, to review his plans. Surjit tells Ivan that he would like to keep Rajbir as his beneficiary. <br \/>\r<br>What should Ivan counsel his client to do?<\/div><input type='hidden' name='question_id[]' id='qID_35' value='399612' \/><input type='hidden' id='answerType399612' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399612[]' id='answer-id-1552058' class='answer   answerof-399612 ' value='1552058'   \/><label for='answer-id-1552058' id='answer-label-1552058' class=' answer'><span>Surjit does not need to do anything as Rajbir is already the named beneficiary.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399612[]' id='answer-id-1552059' class='answer   answerof-399612 ' value='1552059'   \/><label for='answer-id-1552059' id='answer-label-1552059' class=' answer'><span>Surjit cannot make any changes to the policy without Rajbir\u2019s consent as she is the irrevocable beneficiary of his policy.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399612[]' id='answer-id-1552060' class='answer   answerof-399612 ' value='1552060'   \/><label for='answer-id-1552060' id='answer-label-1552060' class=' answer'><span>Surjit should name a different beneficiary now that he is divorced.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399612[]' id='answer-id-1552061' class='answer   answerof-399612 ' value='1552061'   \/><label for='answer-id-1552061' id='answer-label-1552061' class=' answer'><span>Surjit should once again designate Rajbir as the beneficiary.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-36' style=';'><div id='questionWrap-36'  class='   watupro-question-id-399613'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>36. <\/span>When Tim and Patricia were common-law spouses, they met with an insurance agent, Aelia, to purchase life insurance policies of $100,000 each, naming each other as beneficiaries of their policies. Five years later, Patricia leaves Tim to be with her personal trainer, Thomas. A year later, Patricia and Thomas marry, and Patricia gives birth to their baby, Cedrick. Tragically, just before Cedrick's 12th birthday, Patricia dies in a fiery car crash. She never modified her beneficiary designation. <br \/>\r<br>Shortly after the crash, Thomas calls Aelia to inform her that Patricia has died and that he wants to claim the death benefit on her life insurance policy. <br \/>\r<br>Who will receive the $100,000 death benefit?<\/div><input type='hidden' name='question_id[]' id='qID_36' value='399613' \/><input type='hidden' id='answerType399613' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399613[]' id='answer-id-1552062' class='answer   answerof-399613 ' value='1552062'   \/><label for='answer-id-1552062' id='answer-label-1552062' class=' answer'><span>Tim<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399613[]' id='answer-id-1552063' class='answer   answerof-399613 ' value='1552063'   \/><label for='answer-id-1552063' id='answer-label-1552063' class=' answer'><span>Thomas<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399613[]' id='answer-id-1552064' class='answer   answerof-399613 ' value='1552064'   \/><label for='answer-id-1552064' id='answer-label-1552064' class=' answer'><span>Cedrick<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399613[]' id='answer-id-1552065' class='answer   answerof-399613 ' value='1552065'   \/><label for='answer-id-1552065' id='answer-label-1552065' class=' answer'><span>Patricia's estate<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-37' style=';'><div id='questionWrap-37'  class='   watupro-question-id-399614'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>37. <\/span>Mercedes is a single mother to her 5-year-old son Arthur. Arthur's father Richard is not in his son's life because he is a recovering drug dealer who spent the last 4 years in and out of prison. Mercedes has full custody of Arthur and cannot count on help from her family because they live in another province. <br \/>\r<br>Wanting to ensure his well-being, in the event of her death, Mercedes purchases a $100,000 life insurance policy and names Arthur the sole beneficiary of the policy. <br \/>\r<br>If she died without a will who would receive the death benefit?<\/div><input type='hidden' name='question_id[]' id='qID_37' value='399614' \/><input type='hidden' id='answerType399614' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399614[]' id='answer-id-1552066' class='answer   answerof-399614 ' value='1552066'   \/><label for='answer-id-1552066' id='answer-label-1552066' class=' answer'><span>Arthur<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399614[]' id='answer-id-1552067' class='answer   answerof-399614 ' value='1552067'   \/><label for='answer-id-1552067' id='answer-label-1552067' class=' answer'><span>Richard<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399614[]' id='answer-id-1552068' class='answer   answerof-399614 ' value='1552068'   \/><label for='answer-id-1552068' id='answer-label-1552068' class=' answer'><span>Director of youth protection<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399614[]' id='answer-id-1552069' class='answer   answerof-399614 ' value='1552069'   \/><label for='answer-id-1552069' id='answer-label-1552069' class=' answer'><span>Mercedes's estate<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-38' style=';'><div id='questionWrap-38'  class='   watupro-question-id-399615'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>38. <\/span>Levi is a newly licensed financial security advisor in Quebec City, meeting with Mason, the compliance officer at Yes Insurance Inc. Mason stresses the importance of being professional and complying with the code of ethics. Levi asks who enacted the code of ethics. <br \/>\r<br>Which of the following is Mason's CORRECT response?<\/div><input type='hidden' name='question_id[]' id='qID_38' value='399615' \/><input type='hidden' id='answerType399615' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399615[]' id='answer-id-1552070' class='answer   answerof-399615 ' value='1552070'   \/><label for='answer-id-1552070' id='answer-label-1552070' class=' answer'><span>Autorit\u00e9 des march\u00e9s financiers (AMF).<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399615[]' id='answer-id-1552071' class='answer   answerof-399615 ' value='1552071'   \/><label for='answer-id-1552071' id='answer-label-1552071' class=' answer'><span>Chambre de la s\u00e9curit\u00e9 financi\u00e8re (CSF).<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399615[]' id='answer-id-1552072' class='answer   answerof-399615 ' value='1552072'   \/><label for='answer-id-1552072' id='answer-label-1552072' class=' answer'><span>Canadian Insurance Services Regulatory Organizations (CISRO).<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399615[]' id='answer-id-1552073' class='answer   answerof-399615 ' value='1552073'   \/><label for='answer-id-1552073' id='answer-label-1552073' class=' answer'><span>Canadian Council of Insurance Regulators (CCIR).<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-39' style=';'><div id='questionWrap-39'  class='   watupro-question-id-399616'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>39. <\/span>Ontario residents, Juan and Maria, are a married couple approaching retirement. They have asked their representative Carlow to review the details of Maria\u2019s defined benefit plan (DBPP). <br \/>\r<br>Which of the following statements about Maria\u2019s pension is CORRECT?<\/div><input type='hidden' name='question_id[]' id='qID_39' value='399616' \/><input type='hidden' id='answerType399616' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399616[]' id='answer-id-1552074' class='answer   answerof-399616 ' value='1552074'   \/><label for='answer-id-1552074' id='answer-label-1552074' class=' answer'><span>Maria would be entitled to an increased benefit if Juan waived his survivor benefit.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399616[]' id='answer-id-1552075' class='answer   answerof-399616 ' value='1552075'   \/><label for='answer-id-1552075' id='answer-label-1552075' class=' answer'><span>Juan would be entitled to receive at least 50% of Maria\u2019s pension upon Maria's death.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399616[]' id='answer-id-1552076' class='answer   answerof-399616 ' value='1552076'   \/><label for='answer-id-1552076' id='answer-label-1552076' class=' answer'><span>With Juan's consent, Maria can choose to reduce the survivor benefit to 25% of her normal pension amount.<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399616[]' id='answer-id-1552077' class='answer   answerof-399616 ' value='1552077'   \/><label for='answer-id-1552077' id='answer-label-1552077' class=' answer'><span>Juan will be entitled to the survivor benefit even if they are separated at the time of Maria's death.<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div class='watu-question ' id='question-40' style=';'><div id='questionWrap-40'  class='   watupro-question-id-399617'>\n\t\t\t<div class='question-content'><div><span class='watupro_num'>40. <\/span>Last week, at a dinner party, Dario, an insurance agent, met Andrew, a successful businessperson with a net worth of over $10 million. Dario spent the evening following Andrew around, telling him how he could help him manage his finances. The day after the meeting, Dario sent a fruit basket to Andrew's office. Every day since, Dario has been calling and urging Andrew to meet with him and take advantage of his services and insurance products. <br \/>\r<br>Which duties and obligations did Dario break?<\/div><input type='hidden' name='question_id[]' id='qID_40' value='399617' \/><input type='hidden' id='answerType399617' value='radio'><!-- end question-content--><\/div><div class='question-choices watupro-choices-columns '><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399617[]' id='answer-id-1552078' class='answer   answerof-399617 ' value='1552078'   \/><label for='answer-id-1552078' id='answer-label-1552078' class=' answer'><span>Duties and obligations towards the public<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399617[]' id='answer-id-1552079' class='answer   answerof-399617 ' value='1552079'   \/><label for='answer-id-1552079' id='answer-label-1552079' class=' answer'><span>Duties and obligations towards clients<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399617[]' id='answer-id-1552080' class='answer   answerof-399617 ' value='1552080'   \/><label for='answer-id-1552080' id='answer-label-1552080' class=' answer'><span>Duties and obligations towards other representatives, firms, independent partnerships, insurers and financial institutions<\/span><\/label><\/div><div class='watupro-question-choice  ' dir='auto' ><input type='radio' name='answer-399617[]' id='answer-id-1552081' class='answer   answerof-399617 ' value='1552081'   \/><label for='answer-id-1552081' id='answer-label-1552081' class=' answer'><span>Duties and obligations towards the profession<\/span><\/label><\/div><!-- end question-choices--><\/div><!-- end questionWrap--><\/div><\/div><div style='display:none' id='question-41'>\n\t<div class='question-content'>\n\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.dumpsbase.com\/freedumps\/wp-content\/plugins\/watupro\/img\/loading.gif\" width=\"16\" height=\"16\" alt=\"Loading...\" title=\"Loading...\" \/>&nbsp;Loading...\t<\/div>\n<\/div>\n\n<br \/>\n\t\n\t\t\t<div class=\"watupro_buttons flex \" id=\"watuPROButtons10056\" >\n\t\t  <div id=\"prev-question\" style=\"display:none;\"><input type=\"button\" value=\"&lt; 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   \t \n<\/script>\n<p>&nbsp;<\/p>\n<h3>You can check more sample questions, the <span style=\"background-color: #00ff00;\"><a style=\"background-color: #00ff00;\" href=\"https:\/\/www.dumpsbase.com\/freedumps\/llqp-dumps-v9-02-with-llqp-free-dumps-part-2-q41-q80-online-help-you-check-the-quality-of-the-life-license-qualification-program-llqp-exam-questions.html\"><em>LLQP free dumps (Part 2, Q41-Q80) of V9.02<\/em><\/a><\/span> are online.<\/h3>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You can strengthen your Life License Qualification Program (LLQP) exam preparation with the most updated dumps of DumpsBase. 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