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Ethics and Proffesional Practice HLLQP Questions With Complete Solutions.

HLLQP - SFA 02 FC - Segregated Funds Exam Questions and Answers

HLLQP - SFA 02 FC - Segregated Funds Exam Questions and Answers

If an additional life-insured is being added to an existing UL policy, will evidence of insurability be required? HLLQP - LIFE 04 FC Answer Yes! Universal life is the only policy type that makes it as possible to change the life-insured or even add an additional life-insured. however, such a change would be a new risk for the insurer and would need to be underwritten. Note: Changing or adding a life-insured is not allowable on a whole life policy! Of the three types of permanent life i...

3 phrases of Against Permanent Loss of income( Income earner dies) Answer Readjustment period, Dependency Period, Survivor life income needs Capital retention approach Answer Today's value of income needs + cash needs = insurance needs Two common method for calculate life insurance needs Answer Capitalization of income approach(life- value approach) and Capital retention approach Capitalization of income approach(life- value approach) Answer Annual Income / interest rate = life value (...

lucas owns a property that he uses as his principal residence. he resides in the property with his 20 yrs old son Jake. the property has $250,000 mortgage registered against it. upon his death, lucas would like to gift the property to his son takes over the mortgage lucas is retired and collect OAS and CPP but not enough to cover his monthly expenses. Jake earns $100,000 a year but has a bad credit history. however, jake is able to pay the mortgage. which of the following financial impacts ...

HLLQP - SFA 02 FC - Segregated Funds Exam Questions and Answers Describe the investment quality of a high-yield bond -Answer Correct-very low quality. Analogy: Investing in a high-yield bond(junk bond) is a lot like betting on a longshot at the horse races. Your horse is unlikely to win, and you will most likely lose all of your money. However, if your horse somehow wins, you stand to make a huge profit. The same logic holds with junk bonds. An investor may take a chance on such a bond if ...

taxable gains formula on a participating formula? Answer (ACB - Dividend - NCPI) - CSV what is a CDA? Answer capital dividend account, side account for funds what is a PUA? Answer paid up addition, ability to add temp insurance adding a feature or increasing death benefit what is GIB? Answer guaranteed insurability benefit, allows for the purchase of additional life insurance with no medical evidence. difference between riders and supplemental benefits? Answer ridders- increase death...

Prabdeep is sole sales representative. He has good connections in community that his sister Shatakski does not. Shatakski starts a business with on demand load. If prabdep were to die. Agent reccomends coverage on is brother to cover on demand loan Answer The bank can recall the loan if the feel business may not be successful without prabdeep who is the KEP EMPLOYER Insurance company reviewing for group adjustable whole life policies. Comapring projections made 10 years ago realized actual in...

Describe the investment quality of a high-yield bond - ANSWER-very low quality. Analogy: Investing in a high-yield bond(junk bond) is a lot like betting on a longshot at the horse races. Your horse is unlikely to win, and you will most likely lose all of your money. However, if your horse somehow wins, you stand to make a huge profit. The same logic holds with junk bonds. An investor may take a chance on such a bond if he believes that the issuer's fortunes will turn around and the bond wil...