LLQP Exam Dumps and Practice Questions

Wesley is a self-employed plumber. He meets with a licensed life insurance agent to explore his options regarding disability insurance. Wesley's earnings have been stable over the past few years.His business generates gross income of $120,000 annually and write-off expenses of $30,000. Wesley's average income tax rate is 30%. What income amount should be used to calculate the maximum disability benefits Wesley is entitled to?

Jackson, a new life insurance agent, is planning to promote a group insurance plan to small businesses in the are

a. After some research, he is able to locate a list of small business contact information online. The list contains office hours, phone numbers, as well as the office addresses. He prints off the list and prepares marketing material pertaining to group insurance and mails it to each of the small businesses. Jackson's business plan is to call the businesses one by one 14 days after the marketing material has been mailed. What should Jackson be aware of to comply with the usual business solicitation practice?

Dora meets with the following clients, each of whom fills out a disability insurance application:

* Scott, a ski instructor who skydives every weekend in the summer,

* Lamar, a librarian who drives to work daily and spends his free time collecting stamps and watching nature shows,

* Timothy, an administrative assistant who walks 30 minutes each way to and from work, and

* Yashar, an accountant who participates in 5 online chess competitions a week and studies chess in his spare time.

All else being equal, which of Dora's clients will qualify for the most favorable insurance premium?

Lisa owns a busy and successful healthcare company, Health Inc. She started the business right out of nursing school all on her own, but recently has been working as the Chief Operating Officer in an office environment, with very little direct interaction with clients. Most of their sales and therefore profits come from their senior account manager, Leslie.

Because of her financial importance to the business, Lisa would like to place life insurance coverage on Leslie, owned by Health Inc.

In what scenario could Health Inc., as the applicant, take out a life policy on Leslie's life, even though she is not the owner?

Valerie, age 42, recently left her job after 15 years of service. She participated in a defined contribution pension plan and had accumulated benefits amounting to $88,000, eligible for transfer into a registered contract. What must Valerie do with this money?