IFSE Institute Exam LLQP Topic 1 Question 11 Discussion

Actual exam question for IFSE Institute's LLQP exam

Question #: 11
Topic #: 1

[All LLQP Questions]

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.

AHe can provide the claim form to Jason and help him fill it out.

BHe can assure Jason that the payment will be made within 5 days after receipt of the claim.

CHe can inform Jason that the death benefit will be paid within 30 days of Rosalie's death.

DHe can assure Jason that he will settle the death benefit as quickly as possible.

Show Suggested Answer

Suggested Answer: B

Rachel should inform Owen that some segregated funds offer an automatic reset feature, which adjusts the guaranteed value periodically based on the fund's market performance. This can lock in gains during rising markets without requiring manual intervention. According to LLQP resources, automatic resets can occur on specific anniversaries or under certain conditions specified in the contract.

Option A is incorrect as not all segregated funds offer a reset feature. Option C is incorrect as there may be costs associated with funds that provide reset options. Option D is incorrect because resets typically lock in gains, not losses.

by Alpha at Feb 10, 2025, 06:34 PM

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Sheldon

6 days ago

I think option C is the correct answer. The insurance policy states that the death benefit will be paid within 30 days of the insured's death, so Germain should inform Jason of that timeline.

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