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
Historical national first-attempt statistics: CISRO January–December 2025. Not a personal pass probability, search volume or evidence of EstatePass outcomes.
Practise, then review
LLQP segregated funds and annuities practice: guarantees, value, fees and payment terms
Use original stipulated calculations and a contract-field comparison to distinguish insurance guarantees from current market value and investment returns.
3 original scenarios · No account needed · Answers explained
Canadian LLQP module education, not personal investment, tax or product advice. The examples supply hypothetical provisions; no universal guarantee percentage, return, creditor protection or beneficiary outcome is promised. Approved education, provincial licensing and current product documents remain separate.
Try original learning scenarios
Answer without an account. Explanations and topic review links are included; progress resumes in this browser tab after refresh.
A hypothetical contract stipulates that at the qualifying maturity date, with all conditions met and no withdrawals, payout is the greater of market value or 75% of a CAD40,000 guarantee base. Market value is CAD28,000. What stated payout follows?
- CAD28,000
- CAD30,000
- CAD40,000 plus a guaranteed annual return
Preparing answer controls…
Study sequence
- Identify the client’s documented objectives, time horizon, liquidity need and risk profile in the study case before comparing products. Missing facts must remain unknown.
- Separate market value, guarantee base, percentage, qualifying event/date and withdrawals/resets. A guarantee at a stipulated maturity event is not a guaranteed annual return or immediate redemption price.
- For an annuity, read the payment term, life/term basis, survivor features and any guarantee period. Do not infer an inflation adjustment, lump-sum access or continuing beneficiary payments without a provision.
- Compare disclosed fees, risks, contract and beneficiary terms under current applicable requirements. Use the same-module review paths and record concepts missed, not a recommendation to buy.
Revision terms
- Market value versus guarantee
- The current investment-linked value and a conditional contractual benefit are different quantities.
- Guarantee base
- The supplied calculation reference, which may be adjusted by withdrawals/resets under the actual contract.
- Annuity payment basis
- Life-contingent or stated-term payment terms must be checked; neither automatically guarantees purchasing power.
Use your browser’s Print command to print this checklist and terms. This is an HTML revision sheet, not an official course certificate or a downloadable exam paper.
| Field | Question to ask | Do not assume |
|---|---|---|
| Guarantee | Which event, date, base and percentage apply? | A fixed annual investment return |
| Fees | Which disclosed charges apply and on what basis? | A guarantee is free |
| Withdrawals/resets | How does the contract adjust benefits and timing? | An unchanged guarantee after every withdrawal |
| Beneficiary/payment term | Who receives what under the actual designation and terms? | Universal probate exemption or lifetime survivor income |
Sources and applicability
- CISRO segregated-funds and annuities curriculum
Reviewed 2026-10-13. May2015 published module task map: needs, product analysis, implementation and service. Not a current tax guide or specific product contract.
- Alberta Insurance Council modular LLQP format
Reviewed 2026-10-13. Segregated-funds/annuities35 items including5 pilot,75minutes and certification prerequisite; actual province rules must be checked.
- BC LLQP licence requirements
Reviewed 2026-10-13. Segregated-funds module in the BC life-and-A&S route; exam completion is not a licence or authorization to advise.
Print original questions and explanations
3 reviewed original scenarios for Segregated Funds & Annuities. This printable set uses the scenarios above; it does not include the separate interactive sample bank or a full exam.
Choose “Save as PDF” in your browser, match the selected paper size, and turn off browser headers/footers. In the combined version, answers start on a new page. Version original-v1-26cb20880848.
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
Independent original learning questions with explanations. Contract terms, tax and provincial rules can change or depend on facts; consult current official material. These samples are not official items, approved certification or a personal pass prediction.
In LLQP product-classification study, a segregated fund contract is:
- A mutual fund sold by an insurer
- An individual variable insurance contract issued by a life insurer
- A guaranteed investment certificate
- A pension plan
Preparing answer controls…
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) | Confirm the current per-module and rewrite charges with Durham College. Ontario currently requires in-person exams (FSRA, checked October 18, 2026).source |
| 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.