LLQP Life Insurance · Component 3.3 · 25% of the exam
Once a policy has been delivered, the agent's implementation record should include:
- Athe client's banking details, retained for future premium arrangements
- Bonly the signed delivery receipt, which evidences that the transaction is complete
- Cthe insurer's internal underwriting notes and the full reasons behind its decision
- the application, illustration, delivery date, any amendments and what was explained
Correct answer: D) the application, illustration, delivery date, any amendments and what was explained
A complete record shows what the client was given and told, and when. It supports the advice if the transaction is examined years later, which is when memories are least reliable.
Why the other options are wrong
- ABanking details should not be retained beyond what is required.
- BA receipt alone does not show what was explained or delivered.
- CInternal underwriting notes are not shared with or held by the agent.
Exam tip
Record what was delivered, when, and what was explained at the time.
Common mistake
Keeping the receipt and discarding the rest of the implementation record.
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.