LLQP Ethics case studies
LLQP Ethics · Put your knowledge to work in context.
The LLQP Ethics component is the professional-conduct portion of Canada's Life Licence Qualification Program, the entry pathway for people seeking a life insurance agent licence. It is written for new candidates preparing for their first licence, and for career-changers moving into insurance sales or financial advice. Rather than testing product mechanics, it tests judgement: how a licensee identifies a client's needs, documents suitability, discloses conflicts, protects private information, deals honestly with the market, and responds to a regulator. Expect scenario-based multiple-choice items in which several answers are defensible and one is clearly most consistent with a licensee's duties. The LLQP Ethics case studies are 5 cases and about 2,921 words.
1The Inherited Book and the Unlicensed Referral
Denise is a newly licensed life agent. Her mother's financial planner, Raj, has referred six of his clients to her over two years, and Denise has always been grateful.
654 words, about 3 min2The Neighbour's Diagnosis
Peter is a life agent in a small town. His client of nine years, Margaret, has just been diagnosed with early-stage pancreatic cancer.
590 words, about 3 min3The Replacement That Looks Too Good
Aisha is reviewing a proposed replacement. Her client, Tom, 58, holds a universal life policy with a 500,000 death benefit, a cash surrender value of 62,000, and an annual premium of 6,400.
596 words, about 3 min4The Premium That Wasn't Remitted
Marcus, a life agent, collected a 1,850 premium cheque from a client, Mrs. Tran, on a Friday and deposited it into his own business account, intending to forward it to the insurer on Monday.
513 words, about 3 min5The Suitability Signature
Priya is a life agent at a firm that pays a higher commission on a particular permanent policy than on term. Haddad, 34, is a self-employed contractor with two young children, 18,000 in credit card debt, no emergency fund, and 250,000 of mortgage debt.
568 words, about 3 min