LLQP Accident & Sickness · Component 1.1 · 35% of the exam
Which document does the curriculum specifically list for verifying a client's income in an A&S needs analysis?
- AA letter from the client's bank confirming average monthly deposits over the year
- Prior years' tax returns and notices of assessment, at least the past two years
- CA letter from the employer confirming the current salary and start date
- DA personal financial statement prepared and signed by the client
Correct answer: B) Prior years' tax returns and notices of assessment, at least the past two years
The curriculum lists prior years' tax returns and notices of assessment. They establish insurable income, which financial underwriting will also require.
Why the other options are wrong
- ABank deposits do not distinguish earned income from other receipts.
- CAn employer letter shows current salary only; the curriculum calls for tax returns.
- DA self-prepared statement is not independent verification of income.
Exam tip
Two years of tax returns and NOAs: collect them at fact-finding.
Common mistake
Applying for a benefit the client cannot document.
What this tests
CISRO competency component 1.1 — Assess the client's needs and situation — which is weighted at 35% of the Accident & Sickness module. Written against the published curriculum.
More from component 1
- The single most important fact for sizing a client's disability income need is:
- A client's beneficiaries for assets are listed in the fact-finding. Why does this matter for A&S planning?
- A client asks why the agent wants to know how assets are owned (jointly or individually). In the A&S context the answer is:
- A client mentions a back injury five years ago that fully resolved. The agent should:
- Which element of a client's situation most affects the definition of disability that should be recommended?
- Which of the following health facts is most relevant to a client's disability insurance situation?
Practice the whole Accident & Sickness module
Timed sets weighted like the exam, and review of every question you miss. Free to start.