Free IFSE Institute LLQP Exam Questions

Paulette earns a modest income working as a delivery driver for FastFlowers Inc. in Quebec. Theflorist company has over 80 employees, 20 of whom are delivery drivers. The employees benefitfrom a group short- and long-term disability plan. One morning, while delivering flowers, Paulette'struck is struck by a bus. Paulette is taken to the hospital, where a doctor deems that she will beunable to work for at least 4 months. Paulette contacts Jade, the human resources manager, to askher who will pay her disability benefits.Which of the following answers is CORRECT? 

Caleb meets with Miles, his insurance agent, to invest for his retirement. Caleb tells Miles that he will not need his funds for the next 25 years, he is comfortable with market fluctuations, and he would like a fund that mimics the S&P/TSX Composite index. Which of the following funds will best suit Caleb's needs? 

Larson, an insurance agent, meets with Julia, a real estate agent, to review her insurance needs. Juliahas $500 in her savings account and does not own a tax-free savings account (TFSA) or registeredretirement savings plan (RRSP). She earns an average of $150,000 a year in sales commissions andrental income from two condo units she owns. The combined value of her income properties is$1,000,000, and the mortgage is $200,000.Larson recommends that Julia open a TFSA and use it to invest $400 a month in a money marketfund.Which of the following personal risks is Larson trying to mitigate with this advice? 

Caleb meets with Miles, his insurance agent, to invest for his retirement. Caleb tells Miles that he will not need his funds for the next 25 years, he is comfortable with market fluctuations, and he would like a fund that mimics the S&P/TSX Composite index. Which of the following funds will best suit Caleb's needs? 

Paola, an employee at Horizon Pharmaceuticals, was recently diagnosed with depression. She isunable to work and is receiving tax-free disability insurance benefits due to her condition. Paola isdeeply indebted, and her creditors have been garnishing a portion of her pay for the last year. She is  worried about her creditors also garnishing her disability benefit.Can her disability benefits be seized by her creditors?