IFSE Institute LLQP Exam With Confidence Using Practice Dumps

In this scenario, Rowan, an employee of a construction company, suffers an injury while on the job. Since the injury occurred in the workplace, he would be eligible for benefits under Workers' Compensation. Workers' Compensation is designed to cover employees who suffer work-related injuries or illnesses, providing them with benefits that include coverage for medical expenses and income replacement during their period of disability​.

As the accident happened while Rowan was performing work duties, Workers' Compensation will likely cover his wage loss for the duration he is unable to work due to the injury. Employment Insurance (EI) would not be applicable here, as EI sickness benefits are intended for non-work-related illnesses or injuries. The Canada Pension Plan (CPP) also would not apply, as it provideslong-term disability benefits primarily for severe and prolonged disabilities that prevent individuals from working in any capacity. Therefore, option D is the correct answer, as Workers' Compensation is specifically designed for cases like Rowan’s​.

The Canadian Insurance Services Regulatory Organizations (CISRO) is responsible for administering the regulatory framework for insurance intermediaries across Canada. CISRO works with provincial and territorial regulators to ensure consistent standards and practices for insurance agents, helping maintain public trust and professional integrity within the industry​. Elizabeth is correctly referencing CISRO as the body that manages the regulatory system applicable toinsurance intermediaries​.

In a non-registered equity segregated fund, capital gains are only 50% taxable under Canadian tax rules. Amber’s investment grew by $15,000, which represents a capital gain. As per LLQP guidelines, capital gains on non-registered investments are subject to preferential tax treatment, meaning only half of the gain is added to taxable income. Therefore, only $7,500 of the gain will be taxable. This treatment is consistent with capital gains taxation principles outlined in the LLQP material, where only the taxable portion of the capital gain is reported, resulting in reduced tax liability compared to regular income​​.