Alex is meeting with his financial advisor, Shannon, to discuss potential life insurance options. Alex's need for insurance will increase gradually over time due to growth on his investment properties. He would like the mortgages and taxable gains paid off if he were to pass away. Shannon recommends a permanent policy, as Alex's need is long-term, and could extend beyondany period of time a term policy would cover. Alex also wants to add an extra coverage onto this policy as he wants to be provided with additional growth over time he needs.
Which rider would work for Alex?

• A.Paid-up additions rider with restriction
• B.Guaranteed insurability benefit rider
• C.Term insurance rider
• D.Accidental death rider

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Angus is involved in a motorcycle accident and due to his injuries has to spend a few nights in thehospital. He is released from the hospital with a doctor's note indicating that he is able to perform certain parts of his job, but that it would take months until he can be back to normal. He promptly calls his insurance agent Dawn to ask her if he would be entitled to his disability benefits. Dawn reads his policy and tells him that he will not receive any disability benefits.
Which disability definition is MOST LIKELY included in his policy?

• A.Own occupation
• B.Any occupation
• C.Regular occupation
• D.Total disability (according to the CPP)

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Ontario residents, Juan and Maria, are a married couple approaching retirement. They have askedtheir representative Carlow to review the details of Maria's defined benefit plan (DBPP).
Which of the following statements about Maria's pension is CORRECT?

• A.Maria would be entitled to an increased benefit if Juan waived his survivor benefit.
• B.Juan would be entitled to receive at least 50% of Maria's pension upon Maria's death.
• C.With Juan's consent, Maria can choose to reduce the survivor benefit to 25% of her normal pension amount.
• D.Juan will be entitled to the survivor benefit even if they are separated at the time of Maria's death.

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Insurance of persons representative Veronique is meeting clients referred by an acquaintance for the first time.
Observing some suspicious behaviours on their part, Veronique is thinking about reporting the transaction to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Which behaviours are signs of suspicious transactions?

• A.The clients ask a lot of questions about internal controls and the amounts involved seem very high given their apparent financial situation
• B.The clients are in a hurry, the planned transaction is fairly simple, and they want to pay the amount due in cash
• C.The clients are in a hurry, do not seem interested in knowing the long-term benefits of the transaction, and want to pay the amount due in cash
• D.The clients seem interested in knowing the long-term benefits of the transaction, which is simple, and the amounts involved seem very high given their apparent financial situation

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Cecilia, a licensed life insurance agent, delivers a life insurance policy to her client Tony, a newly landed immigrant. Tony would like to pay the policy using the pre-authorized monthly payment method. However, he does not have a bank account in Canada yet and doubts he could find the time to open one in the next few days. Cecilia offers to open a savings account for him, but Tony is unsure whether she is licensed to do that.
What should Cecilia tell Tony to reassure him that she can open a savings account on his behalf?

• A.That licensed life insurance agents are authorized to sell bank products.
• B.That no license is required to act as a deposit broker.
• C.That she can open a savings account for him with no additional license because she delivered the life insurance policy to him beforehand.
• D.That she can open a savings account for him with no additional license so long as the initial deposit is less than $100,000.

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