LLQP Life Insurance · Component 3.1 · 25% of the exam
The 'agent's report' section of a life insurance application is used to:
- ARecord the agent's commission on the sale, so the insurer can pay it once the policy is issued
- Give the underwriter the agent's observations about the applicant and the sale, including anything the questions missed
- CReplace the medical questions for small policies, since the agent has met the applicant in person and can vouch for their health
- DConfirm the premium was paid with the application, so that conditional coverage can begin
Correct answer: B) Give the underwriter the agent's observations about the applicant and the sale, including anything the questions missed
The agent is the insurer's eyes in the field. The report covers how long the agent has known the applicant, whether the applicant was seen in person, other coverage applied for, and any relevant observations. Its accuracy is a professional obligation.
Why the other options are wrong
- ACommission is not part of the application.
- CThe agent's report supplements the medical questions.
- DPremium receipt is documented separately.
Exam tip
The agent's report is the insurer's field view of the applicant. Fill it in honestly — it is part of your professional record.
Common mistake
Treating the agent's report as a formality.
What this tests
CISRO competency component 3.1 — 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.