LLQP (Life Licence Qualification Program) Practice Exam · Question
A bank manager tells a client that their mortgage application will only be approved if they purchase life insurance directly through the bank. This is an example of:
Tied selling is an illegal practice where a financial institution requires a client to buy a product (like insurance) as a condition for obtaining another produ
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Question: A bank manager tells a client that their mortgage application will only be approved if they purchase life insurance directly through the bank. This is an example of:
Answer options:
- Churning ✅ Tied Selling
- Fronting
- Twisting
Correct answer: Tied Selling
Explanation: Tied selling is an illegal practice where a financial institution requires a client to buy a product (like insurance) as a condition for obtaining another product (like a mortgage).
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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
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