LLQP Ethics & Professional Practice · Component 2.1 · 40% of the exam
The federal Privacy Commissioner (and provincial commissioners) protect clients by:
- ASelling anonymized client data to insurers for underwriting research, with the proceeds funding the office's operations
- Overseeing privacy legislation, investigating complaints about personal information, and issuing guidance
- CUnderwriting policies on behalf of insurers where the applicant's health information is sensitive
- DLicensing agents who handle personal health information, in coordination with the provincial insurance regulators
Correct answer: B) Overseeing privacy legislation, investigating complaints about personal information, and issuing guidance
Privacy commissioners are the recourse for clients whose information is mishandled.
Why the other options are wrong
- APrivacy commissioners exist to prevent data misuse, not to sell data.
- CPrivacy commissioners do not underwrite policies.
- DPrivacy commissioners do not license agents.
Exam tip
Privacy complaints → privacy commissioner.
Common mistake
Believing privacy law does not apply to sole-proprietor agents.
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.