Life, A&S, Seg Funds
35 questions in 75 minutes: 30 scored and 5 unscored pilots, mixed in and not identified. About two minutes per question. You need 18 of the 30 scored answers right.
LLQP practice exams
Start with a free practice set drawn from our training bank: Life, Accident and Sickness, Segregated Funds and Annuities, and Ethics. Use training mode to see each explanation as you go, or exam mode to get your score by module at the end. No sign-up.
0 answered out of 20
A study guide printed in 2021 says a client can buy segregated funds with a DSC option. Which statement describes the current rule?
Look at what the CCIR/CISRO decision prohibited from June 2023.
See the answer and explanation
Correct answer: B. Since June 1, 2023, the deferred sales charge option can no longer be sold on new purchases of segregated funds. Higher guarantees, registered status or extra disclosure do not restore it.
In Ontario, Marcus fails the Seg funds exam at 2:00 p.m. on a Tuesday. A friend says he can rewrite it the next morning. What is the earliest time he can attempt it again?
Ontario sets a minimum delay between two attempts, counted in hours.
See the answer and explanation
Correct answer: B. In Ontario and British Columbia, there must be at least 24 hours between attempts at a module exam. Counting from 2:00 p.m. Tuesday gives Wednesday 2:00 p.m., not simply the next calendar day.
Nia, 66, transfers $300,000 from her RRSP to a new RRIF in June of this year. What is her minimum RRIF withdrawal for this year?
Check whether a minimum applies in the year a RRIF is opened.
See the answer and explanation
Correct answer: C. There is no minimum withdrawal in the year a RRIF is opened. The factor of 1 ÷ (90 − 66) = 4.17% would give $12,500 and a prorated half-year amount $6,250, but neither applies; the first minimum is due the following year.
In August 2026, an agent proposes a segregated fund to a new client using the deferred sales charge option, explaining that no sales charge is paid upfront. What is wrong?
Think about the date of the ban on this sales charge.
See the answer and explanation
Correct answer: D. Since June 1, 2023, new sales of segregated funds under the DSC option have been banned. Disclosure documents or a signed waiver cannot make a banned option acceptable, so the agent must offer a different charge structure.
Ana was disabled for 8 months after a 90-day elimination period, returned to work for 4 months, and then had a relapse from the same cause. Her policy has a 6-month recurrent disability clause. What applies?
Check whether the relapse occurred within the clause's period.
See the answer and explanation
Correct answer: C. Because the relapse is from the same cause and occurred within 6 months of the return to work, it is treated as the same claim, with no new elimination period. A new waiting period would be required if it happened after that period.
Carla surrenders a whole life policy for $46,000. She paid $50,000 in premiums and the cumulative NCPI is $12,000. Her marginal rate is 40%. What tax does she owe?
Compute the ACB before comparing it with the proceeds.
See the answer and explanation
Correct answer: C. ACB = $50,000 − $12,000 = $38,000. The policy gain is $46,000 − $38,000 = $8,000, fully taxable: $8,000 × 40% = $3,200. Using premiums as the ACB shows a loss ($0), and 50% inclusion ($1,600) wrongly treats the gain as a capital gain.
Hugo's life policy was issued 30 months ago. He died last week, and the insurer discovers he had understated his smoking on the application. There is no evidence he meant to deceive. What is the likely outcome?
Compare the age of the policy with the contestability period, and ask whether fraud is shown.
See the answer and explanation
Correct answer: A. After the two-year contestability period, the insurer can no longer contest for misstatements, except for proven fraud. Month 30 is past that period and fraud is not shown, so the full benefit is payable. A material misrepresentation would only matter within the first two years.
Leo's daughter Emma is covered under both parents' group plans. Her mother was born on October 5, 1980 and her father on March 20, 1988. Which plan pays first for Emma's claim?
Compare month and day only, not the year of birth.
See the answer and explanation
Correct answer: C. Under the birthday rule, the plan of the parent whose birthday comes first in the calendar year is primary. March 20 comes before October 5, so the father's plan pays first even though he is younger.
Mr. Dubois, 84, seems confused about the policy he is about to sign and repeats that his son "handles everything." What should the agent do under fair treatment of customers?
Consider the extra care owed to a client who may be vulnerable.
See the answer and explanation
Correct answer: C. Fair treatment includes extra care for clients who may be vulnerable, for example because of age or confusion. The agent must make sure Mr. Dubois understands the product, and may suggest involving a trusted person with his consent, but cannot sign for him.
A client buys a segregated fund and receives the confirmation on Wednesday. He changes his mind and wants to cancel under the right of rescission. What is his last day to cancel?
Count business days starting the day after the confirmation is received.
See the answer and explanation
Correct answer: C. The right of rescission lasts 2 business days after the client receives the confirmation. Counting Thursday as day 1 and Friday as day 2, the last day is Friday.
In 2021, Daniel named his wife Rosa as an irrevocable beneficiary of his life policy. Now separated, he wants to name his new partner instead. What is required?
Think about what "irrevocable" does to the owner's power to change.
See the answer and explanation
Correct answer: A. An irrevocable beneficiary has a vested interest, so the owner cannot change the designation (or usually borrow against or surrender the policy) without that beneficiary's written consent. Separation alone does not cancel the designation, and a will cannot override it.
A client calls to complain that her claim payment seems wrong. The agent says he will look into it when he has time and does not tell her what to expect. Which fair treatment expectation is not met?
Think about what a customer should expect when she raises a concern.
See the answer and explanation
Correct answer: A. Under the 2018 CCIR/CISRO guidance, customers should expect prompt, fair complaint handling and clear information on how the complaint will be treated. The agent cannot ignore it, and fair treatment applies to the whole relationship, not only the sale.
Peter's $150,000 policy has an annual premium of $1,200, due on March 1. He did not pay it, and he died on March 20. The policy has a standard grace period. What is paid?
Is the policy still in force 19 days after the due date?
See the answer and explanation
Correct answer: A. The policy is still in force during the grace period (at least 30 days). The insurer pays the $150,000 benefit and deducts the unpaid premium: $150,000 − $1,200 = $148,800. Lapse does not occur on the due date.
A corporation owns a $500,000 permanent policy on its owner. At death the policy's ACB is $80,000 and the CDA balance is nil before the claim. What is the maximum tax-free capital dividend the corporation can pay from this policy?
The CDA credit is the death benefit minus the ACB.
See the answer and explanation
Correct answer: B. The CDA is credited with the death benefit minus the policy's ACB: $500,000 − $80,000 = $420,000. The full benefit ($500,000) overstates it, because the ACB portion is not credited to the CDA.
Carlos holds an A&S-only licence (A&S and Ethics modules passed) and a client asks him to arrange a term life policy. What should he do?
Compare the products Carlos is licensed to sell with the one requested.
See the answer and explanation
Correct answer: A. An A&S-only licence authorizes accident and sickness insurance, not life insurance. Carlos must refer the client or first pass the Life module and obtain a life licence, whatever the product's simplicity or the insurer's approval.
What does it mean that the LLQP has been harmonized since 2016?
Think about the purpose of a harmonized qualification.
See the answer and explanation
Correct answer: C. The harmonized LLQP, in place since 2016, provides a common national standard for qualifying life insurance agents. It does not align fees or renewal dates, and the common law version excludes Quebec.
Omar later learns that he answered 19 of the 30 scored questions correctly on his Seg funds module exam. The pass mark is 60% of the scored questions. What is his result?
Divide by the number of scored questions only.
See the answer and explanation
Correct answer: D. The pass mark applies to the 30 scored questions: 60% × 30 = 18 correct answers needed. Omar's 19 gives about 63%, so he passes. Dividing by all 35 questions, pilot items included, produces the wrong figure of 54%.
Lucia's disability policy has a base monthly benefit of $3,600 and pays residual benefits in proportion to the income lost. Her pre-disability income was $6,000 a month and she now earns $4,200 a month. What residual benefit does she receive?
Express the income loss as a percentage of the pre-disability income first.
See the answer and explanation
Correct answer: B. Income loss = ($6,000 − $4,200) ÷ $6,000 = 30%. The residual benefit is 30% × $3,600 = $1,080. Paying the dollar loss ($1,800) is the trap: residual benefits are proportional to the percentage loss, not equal to the dollar difference.
Nathan's group long-term disability plan pays 60% of his $5,000 monthly salary, reduced by any CPP disability benefit he receives. He is approved for $900 a month of CPP disability. How much does the insurer pay each month?
Find the plan benefit, then deduct the other benefit.
See the answer and explanation
Correct answer: B. The plan benefit is 60% × $5,000 = $3,000. Because it is offset by the CPP disability benefit, the insurer pays $3,000 − $900 = $2,100, and his total income stays at $3,000. Paying $3,000 on top of CPP ($3,900) ignores the offset clause.
How many questions does an LLQP Ethics module exam contain, including unidentified pilot questions?
Recall that Ethics is shorter than the other three modules.
See the answer and explanation
Correct answer: C. The Ethics module has 25 questions: 20 scored and 5 pilot. The other three modules (Life, A&S, Seg funds) have 35 questions: 30 scored and 5 pilot.
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Your result
All 2,760 questions, the lessons and 20 practice exams : $40, one-time payment.
See the prep courseA new set every day. These are training questions; the questions used in our timed practice exams are never published here.
The real format, module by module
Practise against the clock you will actually face. Each provincial sitting follows the harmonized format below.
Ethics and Professional Practice
25 questions in 75 minutes: 20 scored and 5 pilots. Three minutes per question, but only 20 that count. You need 12 right, and each miss costs 5%.
Question type
Multiple choice, four options, one correct answer. Many items are short client cases: a situation, then what the agent should recommend, calculate or disclose.
Reading your score against the 60% line
A free set gives you a direction, not a verdict. Look at each module separately: the exam does.
A 68% overall can hide an Ethics score of 50%, and Ethics is written on its own, with its own 60% line. When one module drags, filter the set on that module using the buttons above the questions, and repeat until the trend changes.
Keep a margin. You do not know which five questions are pilots, so the questions that count may be the harder ones on the day.
| Your score | What to do next |
|---|---|
| Under 50% | Go back to the course material for that module before practising more. Start with the definitions. |
| 50 to 69% | Close to the line. Work the weak topics, then try a full timed practice exam. |
| 70% and over | A good base. Confirm it twice under real conditions, on questions you have never seen, before you book. |
Free practice set or full preparation
The free set helps you find your level. The course is built to move each module above the line.
| Free practice set | LLQP Exam Prep | |
|---|---|---|
| Questions | A daily set | 2,760, with a two-level hint |
| Explanations | Yes | Yes, with the trap explained and a link to the lesson |
| Lessons | No | 42, with worked cases and calculations |
| Timed practice exams | No | 20, in the official format, unseen |
| Score by competency | For today’s set | Across your whole preparation |
| Price | Free | $40, one payment |
Official sample questions
CISRO publishes sample questions for each module: Life, A&S, Segregated Funds, Ethics (common law) and Ethics (Québec).
Read them once early, to calibrate the tone and length of real items, and once near the end, to check that nothing surprises you. They are not timed and there are few of them, so they cannot replace full practice exams.
Practise the maths separately
Needs analysis and segregated fund guarantees are where time disappears. Our free LLQP calculators show each step, so you can check your working on paper exercises before you time yourself.
Before your sitting, read the LLQP exam day guide: booking, online or in person, and results.
Frequently asked questions
About LLQP practice questions and this test.
Are these the actual LLQP exam questions?
No. Exam questions are confidential. Ours are original, written against the harmonized LLQP curriculum and reviewed when a rule changes. Be wary of sites selling “dumps”: they are either fake or a breach of exam integrity rules.
How many practice tests should I write before the exam?
Enough to score 70% or more twice, on different days, on questions you have not seen, for each module you are writing. That usually takes several per module.
Can I repeat the free test?
Yes, as often as you like. The set changes every day and you can filter it by module.
Does a good practice score mean I will pass?
No score can promise that. It does show if you are close to the 60% line, far below it or comfortably above it, which is what you need to decide when to book.