LLQP module · Segregated Funds and Annuities
LLQP Segregated Funds & Annuities Exam Practice Questions
Segregated funds are the investment side of a life licence: insurance contracts that hold investment funds with maturity and death guarantees. The module also covers annuities and the registered plans they sit in. 20,059 candidates wrote it in 2025; 76% passed, up from 69% in 2024.
Questions
35 (30 scored)
Time
75 minutes
2025 pass rate
76% of 20,059
What the exam weights
CISRO's competency: Recommend segregated funds, individual annuities and group pension plans adapted to the client's needs and situation. Components and weights from the published curriculum.
1.Assess the client's needs and situation
35%- Determine the client's situation, investment objectives and investor profile
- Assess the appropriateness of the client's existing coverage (government pensions, registered plans, group plans)
- Articulate the client's needs based on the risks that could affect their financial situation
2.Analyze the available products that meet the client's needs
30%- Analyze the types of investments that can constitute a segregated fund
- Analyze the advantages of segregated funds compared with other investments
- Analyze the types of annuities
- Analyze the types of group retirement and investment plans
3.Implement a recommendation adapted to the client's needs and situation
25%- Propose a recommendation (guarantees, resets, fees, tax, riders)
- Confirm the requirements that must be met to implement it
4.Provide customer service during the validity period of the coverage
10%- Validate contract amendment, renewal and termination applications
- Inform the claimant of the claims process
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20 practice questions
Original questions written to the competency components above, with an explanation for each. They avoid figures that change every year — contribution limits, benefit amounts — and stay on the rules that do not.
Legally, a segregated fund contract is:
Sit a timed Segregated Funds & Annuities mock exam
Ten fixed papers built to the CISRO blueprint: 35 questions, 75 minutes, 35% / 30% / 25% / 10% across the competency components, 60% to pass. Pick a paper, sit it under exam conditions, then review every question.
Choose a paper600 more Segregated Funds & Annuities questions, by competency component
Every question in the bank, grouped the way CISRO weights the exam, each with its answer and a worked explanation.
Browse all Segregated Funds & Annuities questionsExam rules
From the regulators named beside each item, checked 2026-09-22.
| Time | 75 minutes per modulesource |
| Pass mark | 60% on each modulesource |
| Format | Multiple choice, four options; the approved study material is supplied on an e-reader during the examsource |
| Before you can sit | A certificate from an accredited course provider, valid for one yearsource |
| Fee (Ontario, Durham College) | $68 per module on paper, $85 online, payable with each registrationsource |
| Rewrites (BC) | No waiting period after the first three unsuccessful attempts; one year after the fourthsource |
| Deadline (BC) | All modules and the licence within 12 months of the first module passedsource |
Frequently Asked Questions
What is on the LLQP Segregated Funds exam?
Investor profiling and needs (35%), the products — fund types, seg funds versus other investments, annuities, group plans (30%), the recommendation and its paperwork (25%), and service and claims (10%). 35 questions, 30 scored, 75 minutes.
Is the Seg Funds module hard?
Its pass rate moved the most of any module: 69% in 2024, 76% in 2025. Candidates without an investment background find the tax and registered-plan content the heaviest part.
Do I need a securities licence to sell segregated funds?
No. Segregated funds are insurance contracts (individual variable insurance contracts), so a life licence covers them. Mutual funds and securities require separate registration.