LLQP Ethics & Professional Practice · Component 2.2 · 40% of the exam
An agent signs an insurer's annual compliance attestation without reading it. The agent should understand that:
- Athe attestation may be corrected at any time without consequence for the agent
- the signature confirms the statements are true, and an inaccurate attestation is serious
- Cresponsibility passes to the insurer once the signed attestation has been received
- Dsigning is a formality and carries no consequence if something later turns out to be inaccurate
Correct answer: B) the signature confirms the statements are true, and an inaccurate attestation is serious
An attestation is a statement the agent personally vouches for, covering matters such as licensing, education, outside activities and disclosure. Signing without reading does not excuse a statement that proves untrue.
Why the other options are wrong
- AA late correction does not erase a false statement already made.
- CResponsibility for one's own signature is not transferable.
- DAn inaccurate attestation is treated as a false statement, not a formality.
Exam tip
Never sign an attestation you have not read and verified.
Common mistake
Treating annual attestations as routine paperwork.
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.