LLQP Exam Dumps : Life License Qualification Program (LLQP)

As an insurance agent,keeping detailed noteson services provided to clients is essential for ensuring compliance, accountability, and providing excellent customer service. Documentation is crucial for record-keeping and allows agents to track interactions and recommendations given to clients. While delivering policies promptly is also part of an agent's duties, maintaining accurate records is fundamental to fulfilling regulatory and ethical obligations as outlined in LLQP guidelines​.

For an insurance representative such as Everett who intends to transition to an independent role,maintaining adequate professional liability insurance is crucial. According to LLQP guidelines, the requirements for liability insurance coverage mandate that if the policy includes a deductible, it cannot exceed $20,000 per claim​. This limit helps ensure that insurance representatives can reasonably cover the deductible amount without facing significant financial hardship in case of a claim.

Regarding the other answer choices:

A liability insurance policy is typically required to have a minimum coverage of $1,000,000 per claim, not $1,500,000​.

Professional liability insurance does not cover gross negligence, fraud, or intentional misconduct such as fraud or misappropriation​. It is designed to cover errors, omissions, and negligence within the scope of professional duties, provided they are not intentional or fraudulent acts.

Therefore, option B accurately reflects LLQP stipulations regarding the deductible limit on professional liability insurance for insurance representatives.

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Comprehensive and Detailed Explanation:

Future purchase options require financial underwriting (proof of income increase), not medical, to adjust benefits (Chapter 7:Insurance Recommendation, Contract, and Service Needs).

Option A: Incorrect; waived with rider.

Option B: Correct; income-based.

Option C-D: Incorrect; not required.