LLQP Ethics & Professional Practice · Component 2.2 · 40% of the exam
A client asks the agent to keep a copy of her will and POA 'for safekeeping'. The agent should:
- Explain that a lawyer or secure location should hold them, and if copies are kept, secure and use them only as authorized
- BKeep the originals in the agent's desk, since the client has asked for the agent's help and the office is locked at night
- CRead the documents to the family so everyone knows the client's wishes and there are no surprises later
- DRefuse abruptly, since holding a client's legal documents is outside the scope of an insurance agent's role
Correct answer: A) Explain that a lawyer or secure location should hold them, and if copies are kept, secure and use them only as authorized
Agents should not become custodians of legal originals; confidentiality applies to any copies.
Why the other options are wrong
- BAn agent's desk is insecure and inappropriate for originals.
- CReading documents to the family is a breach.
- DRefusing rudely is unprofessional; explain courteously.
Exam tip
Legal originals: lawyer or secure custody, not the agent.
Common mistake
Holding original wills for clients.
What this tests
CISRO competency component 2.2 — Integrate into practice the rules governing the activities of life insurance agents — which is weighted at 40% of the Ethics & Professional Practice module. Written against the published curriculum.
More from component 2
- A prospective client wants to confirm that an agent is properly licensed before meeting him. She should:
- A dual-licensed agent's mutual fund business is reviewed following a client complaint. The review will be conducted by:
- Assuris coverage applies to:
- OLHI's services are available to:
- Complaints about an agent's conduct (as opposed to an insurer's claim decision) should be directed to:
- The best summary of an agent's ethical obligations is to:
Practice the whole Ethics & Professional Practice module
Timed sets weighted like the exam, and review of every question you miss. Free to start.