Free Practice IFSE Institute LLQP Exam Questions 2025

Harold is a 66-year-old retired school bus mechanic. He receives $900 a month from his definedbenefit 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. 

Caleb meets with Miles, his insurance agent, to invest for his retirement. Caleb tells Miles that he will not need his funds for the next 25 years, he is comfortable with market fluctuations, and he would like a fund that mimics the S&P/TSX Composite index. Which of the following funds will best suit Caleb's needs? 

Paulette earns a modest income working as a delivery driver for FastFlowers Inc. in Quebec. Theflorist company has over 80 employees, 20 of whom are delivery drivers. The employees benefitfrom a group short- and long-term disability plan. One morning, while delivering flowers, Paulette'struck is struck by a bus. Paulette is taken to the hospital, where a doctor deems that she will beunable to work for at least 4 months. Paulette contacts Jade, the human resources manager, to askher who will pay her disability benefits.Which of the following answers is CORRECT? 

Paulette earns a modest income working as a delivery driver for FastFlowers Inc. in Quebec. Theflorist company has over 80 employees, 20 of whom are delivery drivers. The employees benefitfrom a group short- and long-term disability plan. One morning, while delivering flowers, Paulette'struck is struck by a bus. Paulette is taken to the hospital, where a doctor deems that she will beunable to work for at least 4 months. Paulette contacts Jade, the human resources manager, to askher who will pay her disability benefits.Which of the following answers is CORRECT? 

Nikolai owns a guaranteed renewable individual disability policy that he purchased last year. Thepolicy pays a monthly benefit of $3,000 and includes a 4-month waiting period and a 5-year benefitperiod. Today, he is diagnosed with prostate cancer and learns he must undergo 6 months ofradiation.When should he contact the insurance company to inform them of his diagnosis?