Cisco
CompTIA
ISC
EC-Council
EXIN
Fortinet
ITIL
Juniper
Microsoft
VMware
Avaya
SAP
Google
NVIDIA
Salesforce
Amazon
Palo Alto Networks
ISC2
Splunk
ServiceNow
All Vendors
  2. Home
  3. Exams
  4. IFSE Institute
  5. LLQP

IFSE Institute LLQP Exam Questions
Life License Qualification Program (LLQP) (Page 4 )

Updated On: 27-Feb-2026
Page 4 of 61
PDF with 298 Questions

Six years ago, when Kacey was working as an active firefighter, she purchased a $200,000 30-year term life insurance policy. At the time, the insurance company rated her policy. Recently, she changed roles and now works for the fire department's public relations office, answering media calls and filling out paperwork. She meets with her insurance agent, Bernice, to ask if the insurer would consider reducing her premiums.

  1. The premiums cannot be increased once the policy is issued.
  2. The insurer cannot reduce the premium, but Kacey can apply for a new policy at a lower premium.
  3. The premiums can be reduced only if the policy has been in force for more than two years.
  4. Her premiums can be reduced since she is no longer a firefighter.

Answer(s): B



Ten years ago, Anastasia purchased a $125,000 10-year term renewable life insurance policy. Her insurance need has not changed, and she is still in good health. She asks her insurance agent Raphael what she should do.

  1. Renew her current policy at the same rate.
  2. Renew the policy at an increased rate.
  3. Renew her policy and restart the incontestability period.
  4. Shop around for a better rate.

Answer(s): B



Aaliyah is a 37-year-old account manager at a large pharmaceutical company. She earns $300,000 a year plus bonuses. She meets with Theo, an insurance agent, to review her life insurance needs. Theo deduces that Aaliyah needs a $250,000 universal life (UL) insurance policy. Aaliyah agrees but states that she wants to keep her premiums low.
Which of the following UL death benefit options would BEST suit her needs?

  1. Level death benefit.
  2. Level death benefit plus account value.
  3. Level death benefit plus cumulative premiums.
  4. Indexed death benefit.

Answer(s): A



Konrad is the owner of CrossBoy, a manufacturing company employing over 50 employees. Konrad recently took out a $500,000 loan to expand his business. Terrence works as a sales manager and is responsible for roughly 40% of the company's revenue. Konrad recognizes the importance of Terrence's contributions to the success of the company. Therefore, in addition to a sizeable basesalary, CrossBoy also pays Terrence regular performance-based bonuses. Konrad understands that if Terrence dies prematurely, CrossBoy would suffer financially.
What should he do to protect his company?

  1. Offer Terrence group life insurance plan.
  2. Purchase business-owned buy-agreement with Terrence.
  3. Purchase key person life insurance on Terrence.
  4. Purchase criss-cross insurance with Terrence.

Answer(s): C



Coraline owns a $250,000 whole life insurance policy. She purchased the policy last year and does not have any funds accumulated in her cash surrender value (CSV). On December 30, Coraline assigns the policy to the cancer foundation, and she plans on continuing to pay the $200 monthly premium. Coraline calls her accountant James to ask him how much of her donation she will be able to use to obtain a charitable tax credit this year.

  1. $0
  2. $200
  3. $2,400
  4. $250,000

Answer(s): D






Post your Comments and Discuss IFSE Institute LLQP exam dumps with other Community members:

Join the LLQP Discussion