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LLQP Segregated Funds and Annuities — Information & Free Practice

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About LLQP Segregated Funds and Annuities

LLQP Segregated Funds and Annuities · CA

Key exam facts

Provider
National harmonized LLQP content is governed by CISRO. Provincial/territorial regulators administer or appoint administrators; Alberta Insurance Council administers Alberta sittings, and FSRA appoints Durham College in Ontario. Course-provider certification is a separate assessment.
Format
Four-option multiple-choice questions, one best answer; open book using approved electronic reference material. Delivery depends on the regulator: Alberta currently uses in-person computer exams in Calgary/Edmonton and paper exams in other centres; virtual Alberta exams are suspended.
Exam questions
Total questions: 35; Scored questions: 30; Unscored questions: 5; The total includes the scored and unscored questions.
Time limit
75 minutes per module, including all five pilot questions. Alberta requires arrival 15 minutes before the start for check-in; this is additional to answering time. Approved accommodations may vary the standard conditions.
Passing score
60% on the separately marked module; 30 scored points, with the five pilot questions excluded from the final score.
Exam fee
Fees vary by administering jurisdiction and registration type; no single Canada-wide fee. Alberta: CAD $100 for the Full Life package covering four modules, or CAD $100 for the Life/Segregated Funds top-up package; a Full Life/top-up module rewrite is CAD $100. Centres outside Calgary/Edmonton may add invigilation fees. These are exam charges, not course-provider tuition.

Topics covered

  • Assess the client’s needs and situation (35%)

    • Determine the client’s situation, investment objectives, and investor profile
    • Assess the appropriateness of the client’s existing coverage in regard to his or her situation
    • Articulate the client’s needs based on the risks that could affect his or her financial situation

  • Analyze the available products that meet the client’s needs (30%)

    • Analyse the types of investments that can constitute a segregated fund and that meet the client’s needs
    • Analyze the advantages of segregated funds in comparison to other types of investments in regard to the client’s needs
    • Analyze the types of annuities that meet the client’s needs
    • Analyze the types of group retirement and investment plans that meet the client’s needs

  • Implement a recommendation adapted to the client’s needs and situation (25%)

    • Propose a recommendation adapted to the client’s needs and situation
    • Confirm the requirements that must be met to implement the recommendation

  • Provide customer service during the validity period of the coverage (10%)

    • Validate the appropriateness of contract amendment, renewal and termination applications in regard to the client’s situation
    • Inform the claimant of the claims process

How to prepare

Work through the topics, read the explanation after each answer, and revisit the areas where you miss questions. Use the official outline and reference materials below to guide your study.

These independent practice questions are not actual exam items and do not guarantee a passing result.

Frequently asked questions

What is the exam format?

Four-option multiple-choice questions, one best answer; open book using approved electronic reference material. Delivery depends on the regulator: Alberta currently uses in-person computer exams in Calgary/Edmonton and paper exams in other centres; virtual Alberta exams are suspended.

How many questions are on the exam?

Total questions: 35; Scored questions: 30; Unscored questions: 5; The total includes the scored and unscored questions.

How long is the exam?

75 minutes per module, including all five pilot questions. Alberta requires arrival 15 minutes before the start for check-in; this is additional to answering time. Approved accommodations may vary the standard conditions.

What is the passing score?

60% on the separately marked module; 30 scored points, with the five pilot questions excluded from the final score.

How much does the exam cost?

Fees vary by administering jurisdiction and registration type; no single Canada-wide fee. Alberta: CAD $100 for the Full Life package covering four modules, or CAD $100 for the Life/Segregated Funds top-up package; a Full Life/top-up module rewrite is CAD $100. Centres outside Calgary/Edmonton may add invigilation fees. These are exam charges, not course-provider tuition.

Official sources and references

Confirm current exam arrangements with the exam provider.