LLQP (Life Licence Qualification Program) Practice Exam · Question
In the context of segregated fund governance, what is a 'proxy'?
A 'proxy' is an authorization given by a shareholder/contract holder to another person to vote on their behalf. In segregated funds, the insurer often votes the
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Question: In the context of segregated fund governance, what is a 'proxy'?
Answer options: ✅ The right of a contract holder to vote on fundamental changes to the fund.
- The fee paid for switching between funds in a contract.
- The legal document describing the fund's objectives.
- The process of resetting the maturity guarantee.
Correct answer: The right of a contract holder to vote on fundamental changes to the fund.
Explanation: A 'proxy' is an authorization given by a shareholder/contract holder to another person to vote on their behalf. In segregated funds, the insurer often votes the units, but contract holders must be given the opportunity to provide instructions on fundamental changes.
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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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