LLQP (Life Licence Qualification Program) Practice Exam · Question
Robert invested $200,000 into a segregated fund. The contract has a 100% death benefit guarantee and a 75% maturity guarantee. Five years later, the market value of his investment is $180,000. If Robert passes away at this point, what is the minimum amount his beneficiary will receive from the segregated fund contract?
The death benefit guarantee ensures that the beneficiary receives at least 100% of the deposits made, less any withdrawals. Since Robert deposited $200,000 and
Start free practice for LLQP (Life Licence Qualification Program) Practice Exam
374 questions · no signup required · 40 free questions per day
Question: Robert invested $200,000 into a segregated fund. The contract has a 100% death benefit guarantee and a 75% maturity guarantee. Five years later, the market value of his investment is $180,000. If Robert passes away at this point, what is the minimum amount his beneficiary will receive from the segregated fund contract?
Answer options:
- $180,000
- $150,000 ✅ $200,000
- $135,000
Correct answer: $200,000
Explanation: The death benefit guarantee ensures that the beneficiary receives at least 100% of the deposits made, less any withdrawals. Since Robert deposited $200,000 and the market value is $180,000, the guarantee ensures the beneficiary receives $200,000.
Start free practice for LLQP (Life Licence Qualification Program) Practice Exam
374 questions · no signup required · 40 free questions per day
More about LLQP (Life Licence Qualification Program) Practice Exam
Related Questions
- 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
- A personal non-registered permanent life insurance policy on Liam, a 40-year-old engineer in Montreal, has acc
- Universal life is:
More for LLQP (Life Licence Qualification Program) Practice Exam candidates
Study guides
Question explanations
- 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
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free LLQP (Life Licence Qualification Program) Practice Exam Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.