Free IFSE Institute LLQP Exam Questions
Absolute Free LLQP Exam Practice for Comprehensive Preparation
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IFSE Institute LLQP Exam Questions
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Provided By: IFSE Institute
- Exam: Life License Qualification Program (LLQP) Certification
- Certification: IFSE Certification
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Total Questions: 150
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Updated On: Jan 07, 2025
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Rated: 4.9 |
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Online Users: 300
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Question 1
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Sasha is an employee at PranaTech. The company offers all employees a pension plan. PranaTechmust contribute into the plan, but employee contributions are not mandatory. Sasha chooses wherehis funds will be invested.
Answer: A
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Sasha is an employee at PranaTech. The company offers all employees a pension plan. PranaTechmust contribute into the plan, but employee contributions are not mandatory. Sasha chooses wherehis funds will be invested.
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Question 2
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Mohammed is an employee at Optima Plus Inc. Over the years, he accumulated $15,000 in thecompany's group plan. He knows that his contributions into the plan are not tax-deductible, and he isnot taxed on the funds when he makes a withdrawal.What type of plan does Mohammed have with his employer?
Answer: C
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Mohammed is an employee at Optima Plus Inc. Over the years, he accumulated $15,000 in thecompany's group plan. He knows that his contributions into the plan are not tax-deductible, and he isnot taxed on the funds when he makes a withdrawal.What type of plan does Mohammed have with his employer?
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Question 3
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Dominic suffers a heart attack on October 1 and dies a little over a month later, on November 7. Atthe time of his death, he owned a $150,000 critical illness (CI) insurance policy, purchased 10 yearsearlier. Dominic never failed to pay the $100 monthly premium. When he died, the insurer had notyet issued the benefit payment.How will the CI benefit be treated?
Answer: A
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Dominic suffers a heart attack on October 1 and dies a little over a month later, on November 7. Atthe time of his death, he owned a $150,000 critical illness (CI) insurance policy, purchased 10 yearsearlier. Dominic never failed to pay the $100 monthly premium. When he died, the insurer had notyet issued the benefit payment.How will the CI benefit be treated?
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Question 4
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Mohammed is an employee at Optima Plus Inc. Over the years, he accumulated $15,000 in thecompany's group plan. He knows that his contributions into the plan are not tax-deductible, and he isnot taxed on the funds when he makes a withdrawal.What type of plan does Mohammed have with his employer?
Answer: C
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Mohammed is an employee at Optima Plus Inc. Over the years, he accumulated $15,000 in thecompany's group plan. He knows that his contributions into the plan are not tax-deductible, and he isnot taxed on the funds when he makes a withdrawal.What type of plan does Mohammed have with his employer?
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Question 5
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Samira, a 42-year-old single mother of four, owns an individual disability insurance (DI) policy. Lastweek, she was hospitalized because of complications from diabetes. She hired an emergency nannyto care for her children until she was healthy enough to resume her normal activities. To her relief,Samira's DI policy contains a special rider that would cover up to $250 per day for these types ofexpenses.What is the name of the rider contained in Samira's policy?
Answer: D
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Samira, a 42-year-old single mother of four, owns an individual disability insurance (DI) policy. Lastweek, she was hospitalized because of complications from diabetes. She hired an emergency nannyto care for her children until she was healthy enough to resume her normal activities. To her relief,Samira's DI policy contains a special rider that would cover up to $250 per day for these types ofexpenses.What is the name of the rider contained in Samira's policy?