100+ Free LLQP Life Practice Questions

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2026 Statistics

Key Facts: LLQP Life Exam

35 questions

Provincial Life Insurance module exam: 30 scored plus 5 pilot questions

Learnedly / Primerica LLQP provincial exam format

75 minutes

Time allowed for the Life Insurance module exam

Alberta Insurance Council - LLQP

60%

Passing mark required on each LLQP module

FCNB New Brunswick - LLQP licensing requirements

4 modules

Life, Accident & Sickness, Segregated Funds & Annuities, and Ethics

CISRO harmonized LLQP

Open book

Approved electronic e-book is the only permitted reference at the exam

FCNB New Brunswick - LLQP exam format

National regulator

Harmonized LLQP is regulated nationally by CISRO with provincial delivery

Alberta Insurance Council - LLQP

12 months

Exam results are valid for licensing for one year from the first pass date

FCNB New Brunswick - LLQP

100

Free original practice questions here

OpenExamPrep

The LLQP Life Insurance module is one of four harmonized Life Licence Qualification Program modules required to sell life insurance in Canada, regulated nationally by CISRO and examined provincially (for example through Durham College in Ontario). The provincial Life module exam has 35 multiple-choice questions (30 scored plus 5 pilot) answered in 75 minutes, with a 60% pass mark. It is an open-book, proctored exam covering life insurance products, policy provisions, riders, taxation, underwriting, needs analysis and group insurance. Candidates must pass all required modules within 12 months and apply for a licence within one year of first passing. This 100-question bank gives original multiple-choice practice modelled on the official Life module competencies.

Sample LLQP Life Practice Questions

Try these sample questions to test your LLQP Life exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which type of life insurance provides coverage for a fixed period, such as 10 or 20 years, and typically pays a benefit only if the insured dies during that term?

A.Whole life insurance

B.Term life insurance

C.Universal life insurance

D.Participating whole life

Explanation: Term life insurance covers the insured for a specified period and pays a death benefit only if death occurs within that term. It builds no cash value and is generally the lowest-cost form of protection for a temporary need.

2A key feature that distinguishes whole life insurance from term insurance is that whole life:

A.Covers the insured only to age 65

B.Builds a guaranteed cash value over time

C.Has premiums that rise every year

D.Pays no death benefit if the insured lives

Explanation: Whole life is permanent insurance that accumulates a guaranteed cash value the policyowner can access through loans or surrender. This cash value, combined with lifelong coverage and level premiums, is what distinguishes it from term insurance.

3Which permanent policy allows the policyowner to vary the premium and the death benefit, and to direct the cash value among different investment or interest options?

A.Term-to-100 insurance

B.Universal life insurance

C.Non-participating whole life

D.Group term life

Explanation: Universal life is a flexible permanent policy that unbundles the insurance and savings elements, letting the owner adjust premiums and death benefit within limits and allocate the cash value among investment or interest accounts. This flexibility is its defining feature.

4A term policy that lets the insured renew at the end of the term without providing new evidence of insurability is described as:

A.Convertible

B.Renewable

C.Participating

D.Decreasing

Explanation: A renewable term policy guarantees the owner the right to renew for another term without proving insurability again, although the premium increases to reflect the older attained age. This protects coverage even if the insured's health has declined.

5The conversion privilege on a term life policy generally allows the policyowner to:

A.Cash in the policy for its surrender value

B.Change the policy to permanent insurance without new medical evidence

C.Reduce the premium by lowering the face amount

D.Add a second insured to the contract

Explanation: A conversion privilege lets the owner exchange a term policy for a permanent policy without providing new evidence of insurability, up to a stated age. This is valuable when a temporary need becomes permanent or the insured's health has worsened.

6In a participating whole life policy, policy dividends are best described as:

A.A guaranteed fixed interest payment

B.A return of part of the premium when the insurer's experience is favourable

C.A taxable distribution of company profits to shareholders

D.A penalty charged for early surrender

Explanation: Dividends on a participating policy are a non-guaranteed return of part of the premium that arises when the insurer's mortality, expense and investment experience is better than assumed. Policyowners can take them in cash, reduce premiums, buy paid-up additions, or leave them on deposit.

7Which dividend option uses policy dividends to purchase additional, fully paid-up amounts of permanent life insurance?

A.Cash payment

B.Premium reduction

C.Paid-up additions

D.Accumulation at interest

Explanation: The paid-up additions option uses each dividend to buy small amounts of additional paid-up permanent insurance, increasing both the death benefit and the cash value. These additions themselves earn future dividends, compounding the benefit.

8A client wants the lowest possible premium for a large amount of coverage to protect a 20-year mortgage. Which product is most appropriate?

A.Universal life

B.Participating whole life

C.20-year term life

D.Term-to-100

Explanation: A temporary need that ends when the mortgage is paid off is best matched by term insurance, which provides the most coverage for the lowest premium. A 20-year term aligns the coverage period with the mortgage.

9The primary purpose of a life insurance needs analysis is to:

A.Determine the insurer's profit margin

B.Estimate how much coverage a client requires to meet their financial obligations

C.Calculate the agent's commission

D.Set the policy's cash surrender value

Explanation: A needs analysis estimates the amount of coverage required by quantifying obligations such as income replacement, debts and final expenses, less existing resources. It ensures the recommendation is suitable rather than arbitrary.

10Using the capital needs (capital retention) approach, an advisor calculates a coverage amount that:

A.Is spent down to zero over the survivors' lifetime

B.Is invested so that survivors live on the income while preserving the capital

C.Equals exactly five times the insured's annual salary

D.Covers only the funeral and final expenses

Explanation: The capital needs (retention) approach assumes the death benefit is invested and survivors live on the income it generates, leaving the capital intact. This usually produces a higher required amount than approaches that draw down the principal.

About the LLQP Life Exam

The LLQP Life Insurance module is one of four modules of the harmonized Life Licence Qualification Program, the national education and examination standard required to obtain a life insurance agent licence in Canada. The program is regulated nationally by the Canadian Insurance Services Regulatory Organizations (CISRO), while exams are administered provincially. Candidates first complete an approved pre-licensing course and certification exam, then write the provincial module exams. The Life Insurance module tests life insurance concepts, the main product types (term, whole and universal life), policy provisions and riders, the taxation of life insurance, underwriting and risk classification, needs-based selling and group insurance. The provincial exam is a proctored, open-book multiple-choice test of 35 questions in 75 minutes, with a 60% pass mark.

Assessment

The Life Insurance module provincial exam has 35 multiple-choice questions (30 scored plus 5 unscored pilot questions), each with four options and one correct answer. It is one of four LLQP modules; candidates must pass each module separately.

Time Limit

75 minutes for the Life Insurance module exam, including the five pilot questions.

Passing Score

60% on each module, calculated on the 30 scored questions; the 5 pilot questions do not count toward the result.

Exam Fee

Provincial fees are paid through CIPR and set by each jurisdiction. In Ontario, Durham College charges roughly CAD $65 per in-person module and about CAD $82 per virtual online module (around CAD $328 for all four modules); re-writes cost extra. (Provincial administrators (for example Durham College in Ontario) under the CISRO harmonized LLQP framework; pre-licensing courses are delivered by approved providers such as IFSE Institute, CSI and Oliver's.)

LLQP Life Exam Content Outline

35%

Assess the client's needs and situation

Needs-based selling: gathering client data, conducting a life insurance needs analysis (income replacement, capital needs, final expenses, debt and estate liquidity), assessing risk tolerance and time horizon, and matching coverage amounts and policy types to the client's situation.

30%

Analyze available life insurance products

Product knowledge: term life (level, renewable, convertible), whole life (participating and non-participating, dividends, cash value), universal life (flexible premiums, investment options, cost of insurance), riders and additional benefits, and group versus individual life insurance.

25%

Implement a recommendation

Putting coverage in place: the application and underwriting process, risk classification and ratings, policy provisions and clauses (grace period, incontestability, suicide, misstatement of age), beneficiary designations, and the taxation of premiums, death benefits and policy dispositions.

10%

Provide ongoing service

Servicing in-force coverage: non-forfeiture options, policy loans, lapse and reinstatement, conversion privileges, replacement disclosure rules, claims handling, and periodically reviewing coverage as the client's needs change.

How to Pass the LLQP Life Exam

What You Need to Know

Passing score: 60% on each module, calculated on the 30 scored questions; the 5 pilot questions do not count toward the result.
Assessment: The Life Insurance module provincial exam has 35 multiple-choice questions (30 scored plus 5 unscored pilot questions), each with four options and one correct answer. It is one of four LLQP modules; candidates must pass each module separately.
Time limit: 75 minutes for the Life Insurance module exam, including the five pilot questions.
Exam fee: Provincial fees are paid through CIPR and set by each jurisdiction. In Ontario, Durham College charges roughly CAD $65 per in-person module and about CAD $82 per virtual online module (around CAD $328 for all four modules); re-writes cost extra.

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

LLQP Life Study Tips from Top Performers

1Master the differences between term, whole and universal life: which has level premiums, which builds cash value, which offers flexible premiums and investment options, and when each is the right recommendation.

2Learn the standard policy provisions cold (grace period, incontestability, suicide clause, misstatement of age, reinstatement and non-forfeiture options) because these clauses appear in many scenario questions.

3Understand life insurance taxation: premiums are generally not deductible, death benefits are usually received tax-free, and policy gains on disposition or excess withdrawals may be taxable.

4Practise life insurance needs analysis numerically: income replacement, final expenses, debt and existing coverage, so you can calculate the recommended coverage amount under exam time pressure.

5Know the underwriting basics: how insurers classify risk, what affects ratings, and the roles of the application, medical evidence and the attending physician's statement.

6Use the open-book format wisely: know the e-book's layout so you can confirm a fact quickly, but answer most questions from memory because there is not enough time to look up everything in 75 minutes.

Frequently Asked Questions

How many questions are on the LLQP Life Insurance module exam?

The provincial Life Insurance module exam has 35 multiple-choice questions, made up of 30 scored questions and 5 unscored pilot questions. Each question has four options with one correct answer.

What score do I need to pass the LLQP Life module?

You need 60% on the module, calculated on the 30 scored questions. Each LLQP module is graded separately, and you must pass all required modules to qualify for a life insurance licence.

How long is the LLQP Life Insurance exam?

You have 75 minutes for the Life Insurance module exam, which includes time to answer the five pilot questions. The other product modules also allow 75 minutes.

Is the LLQP exam open book?

Yes. The provincial LLQP exam is open book, but you may only use the approved electronic reference e-book supplied at the exam. No personal notes or other materials are permitted.

Who administers the LLQP exam?

The LLQP is harmonized nationally by CISRO but exams are administered provincially. In Ontario the exam is administered by Durham College; pre-licensing courses are delivered by approved providers such as IFSE Institute, CSI and Oliver's.

Are these official LLQP exam questions?

No. These are original OpenExamPrep practice questions modelled on the official Life Insurance module competencies. Official course material and exams come from CISRO-approved providers and provincial administrators.