LLQP Life Insurance · Component 3.3 · 25% of the exam
After submitting an application, a client realizes she gave an incorrect answer about a past condition. The agent should:
- notify the insurer promptly so the application can be corrected before issue
- Bcorrect the form personally and initial the change on the client's behalf
- Cwithdraw the application and submit a fresh one to a different insurer entirely
- Dleave it, since the insurer's own investigation will uncover the correct position
Correct answer: A) notify the insurer promptly so the application can be corrected before issue
Correcting an answer before issue is straightforward; discovering it at a claim is not. The insurer will confirm how the correction should be documented, usually with the client's own signature.
Why the other options are wrong
- BOnly the client may change and initial her own answers.
- CMoving insurers does not correct the record and wastes the work.
- DRelying on the insurer to find it leaves a misrepresentation on file.
Exam tip
Correct an inaccurate answer immediately, and let the client sign it.
Common mistake
Waiting to see whether an incorrect answer matters.
What this tests
CISRO competency component 3.3 — Implement a recommendation adapted to the client's needs and situation — which is weighted at 25% of the Life Insurance module. Written against the published curriculum.
More from component 3
- At policy delivery, the agent should obtain:
- The effective date of a life insurance policy is generally:
- A client's application is approved but he has not paid the first premium when the policy is delivered. The agent should:
- A pre-authorized debit form is part of implementation because:
- During implementation, the agent learns the client wants the policy owned by her corporation instead of personally, as first applied for. The correct step is:
- Which of the following is a legitimate reason an insurer might refuse to issue a policy even after favourable underwriting?
Practice the whole Life Insurance module
Timed sets weighted like the exam, and review of every question you miss. Free to start.