LLQP Ethics & Professional Practice · Component 2.1 · 40% of the exam
Continuing education requirements protect clients because:
- They require approved education hours each licensing period, including ethics, keeping knowledge current
- BThey do not protect clients in practice, since the courses are chosen by the agent and rarely relate to the agent's work
- CThey replace licensing after the first renewal, so an agent who completes the hours need not renew the licence
- DThey are optional in every province, and an agent who skips them simply forgoes a professional designation
Correct answer: A) They require approved education hours each licensing period, including ethics, keeping knowledge current
CE is a licence condition in most provinces; non-compliance can lead to non-renewal.
Why the other options are wrong
- BCurrency of knowledge protects clients.
- CContinuing education is a condition of licensing, not a replacement.
- DContinuing education is mandatory in most provinces.
Exam tip
CE: mandatory hours per period; ethics component common.
Common mistake
Missing CE hours and losing the licence at renewal.
What this tests
CISRO competency component 2.1 — 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.