LLQP (Life Licence Qualification Program) Practice Exam · Question
Which entity is responsible for the licensing and oversight of insurance agents in a particular Canadian province?
Each province has its own regulatory body, such as an insurance council or a superintendent of insurance, responsible for licensing and regulating the conduct o
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Question: Which entity is responsible for the licensing and oversight of insurance agents in a particular Canadian province?
Answer options:
- The Canadian Life and Health Insurance Association (CLHIA). ✅ The provincial insurance council or superintendent of insurance.
- The Canada Revenue Agency (CRA).
- Assuris.
Correct answer: The provincial insurance council or superintendent of insurance.
Explanation: Each province has its own regulatory body, such as an insurance council or a superintendent of insurance, responsible for licensing and regulating the conduct of agents.
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- A life insurance policy that offers lifelong coverage, a guaranteed death benefit, and a savings component tha
- Group benefits in Canada commonly include:
- Sarah, a 35-year-old marketing professional in Ontario, purchases a participating whole life insurance policy
- Mark, a 45-year-old business owner in British Columbia, has a Universal Life policy with a Level Cost of Insur
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