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Free LLQP calculators: the exam calculations, step by step
Life insurance needs analysis, segregated fund guarantee after a withdrawal, pass mark and licensing deadlines. The same methods as in the Life and Segregated Funds exams.
- Capital needs analysis with discounting
- Segregated fund guarantee: proportional reduction and top-up
- Pass mark: 18 out of 30, 12 out of 20
- Course certificate and 12-month licensing deadlines
Life Insurance · Module 1
Life insurance needs calculator
The capital needs analysis taught in the Life Insurance module: the present value of the income the family needs, plus the cash needs at death, minus the resources that will actually be available.
Formula: income need × (1 − (1 + r)−n) ÷ r + debts + final expenses + education + emergency fund − liquid assets − existing coverage. Payments at the end of each year.
Educational tool. A real needs analysis also considers inflation, taxes, government benefits and the client's objectives.
Capital needs analysis
Seg Funds · Module 3
Segregated fund guarantee calculator
What is left of a maturity or death benefit guarantee after a withdrawal, and what the insurer pays at maturity or death. The most common segregated fund calculation on the exam.
Proportional reduction: the guarantee falls by the same percentage as the market value withdrawn. When the market value is below the guarantee, this hurts more than a dollar-for-dollar reduction.
Minimum legal guarantee: 75% of deposits at maturity (at least 10 years) and at death. Resets and fees are not modelled here.
Guarantee after a withdrawal
All modules
LLQP pass mark calculator
60% on each module: 18 correct answers out of 30 scored questions, 12 out of 20 for Ethics. The 5 pilot questions are not counted.
Did I pass?
Deadlines
LLQP deadline calculator
Your course certificate is valid for one year, and in Ontario and BC you must pass all required modules and apply for your licence within 12 months of your first module pass.
My deadlines
Estimate. Check the exact dates with your regulator.
FAQ
About the calculators
How do you calculate life insurance needs for the LLQP exam?
With a capital needs analysis: the present value of the income the family needs over a period, plus cash needs at death (debts, final expenses, education, emergency fund), minus liquid assets and existing coverage.
How does a withdrawal reduce a segregated fund guarantee?
Usually proportionally: the guarantee falls by the same percentage as the market value withdrawn. Example: withdrawing $30,000 from a $120,000 market value (25%) reduces a $150,000 guarantee to $112,500.
How many correct answers do I need to pass an LLQP module?
18 out of 30 scored questions for Life, A&S and Seg Funds, and 12 out of 20 for Ethics — that is 60%.
Are these calculators official?
No. They are free educational tools that apply the methods taught in the LLQP curriculum. They are not financial advice.
Practise the calculations
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Independent study aid, with no link to CISRO, a provincial regulator, an exam administrator or an insurer. It does not replace the mandatory LLQP course. Rules change: check them with the official sources. Terms · Privacy · Legal notice