LLQP Study Guide 2026
Everything you need to pass the LLQP exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
LLQP exam key facts
📋 LLQP Exam Format at a Glance
📚 LLQP Topics to Study (67)
✍️ Sample LLQP Questions & Answers
1. What is the 'capital needs analysis' primarily used to calculate?
Capital needs analysis identifies the specific lump sum required at death to cover obligations such as debts, final expenses, education costs, and income replacement.
2. Why is it important for an insurance advisor to know the amount of a client's CPP and OAS benefits when conducting a needs analysis?
CPP, QPP, and OAS provide a guaranteed income floor in retirement. When calculating life insurance needs, disability coverage gaps, and retirement savings targets, the advisor must offset projected government benefits against total income needs. Ignoring these programs leads to recommending more coverage than necessary.
3. Which type of life insurance product is typically sold without a medical exam, using only a short health questionnaire to determine eligibility?
Simplified issue life insurance uses a brief health questionnaire instead of a full medical exam, trading faster approval for higher premiums or lower coverage limits.
4. An employee who is covered by $200,000 of group life insurance resigns from their job. Which of the following statements best describes the 'conversion privilege' available to this employee?
The conversion privilege allows an employee whose group life coverage terminates (e.g., due to leaving their job) to convert that coverage into an individual permanent life insurance policy without having to provide evidence of insurability. This must typically be done within 31 days of the termination of group coverage.
5. How does tobacco use affect life insurance underwriting in Canada?
Tobacco use significantly increases premiums because it is one of the strongest predictors of increased mortality, with smoker rates typically being double or more the non-smoker rates.
6. What is the 'free look' or 'cooling off' period in Canadian insurance?
The free look period gives policyholders a specified number of days after receiving their policy to review it and cancel for a full premium refund.
🎯 Free LLQP Practice Tests
📖 LLQP Guides & Articles
What Practice Test Geeks adds beyond an AI chat for LLQP
An AI chatbot can quiz you, but it can't reproduce the exam conditions or keep your record. Here you get:
- A timed, full-length LLQP mock exam — 75 questions in 120 minutes with a 60% pass mark, modeled on the official exam's question count and time limit, followed by a score report broken down by exam domain.
- A fixed LLQP question bank: the same test every attempt, so your score is comparable from one try to the next instead of changing with every regenerated quiz.
- Progress saved on your device: completed tests, scores and missed questions stay in My Progress, so you can retake only what you got wrong.
- A printable LLQP cheat sheet you can print or save as a PDF.
- LLQP flashcards built from the same question bank.
- Free LLQP practice tests with the correct answer shown after each question.
How this page was made: written with AI tools and published by Nathan Beja, founder of Practice Test Geeks, who is responsible for its content. Exam facts are checked against the official sources listed below. Not reviewed by a subject-matter expert. Editorial policy
Sources & references
Exam facts on this page (fees, format, dates, passing scores) are checked against these official sources; the date is our last check. Editorial policy
- fcnb.ca — Test delivery, retake policy, score validity · verified Oct 2026
- insurancecouncilofbc.com — Fees, retake fee, eligibility, exam format, time limit, passing score, retake policy, score release, score validity, test delivery · verified Oct 2026
- fsrao.ca — Test delivery, eligibility, retake policy, score validity, fees, exam information · verified Oct 2026