LLQP (Life Licence Qualification Program) Practice Exam · Question
Which of the following actions constitutes 'rebating'?
Rebating involves the agent giving back a portion of their commission or offering a gift/premium to the client as an inducement to buy the policy. This is stric
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Question: Which of the following actions constitutes 'rebating'?
Answer options:
- Offering a choice between two different insurers. ✅ Giving a client a $200 cash 'kickback' from the commission to encourage them to sign.
- Providing a free needs analysis to a prospective client.
- Hosting a seminar on retirement planning.
Correct answer: Giving a client a $200 cash 'kickback' from the commission to encourage them to sign.
Explanation: Rebating involves the agent giving back a portion of their commission or offering a gift/premium to the client as an inducement to buy the policy. This is strictly prohibited.
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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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