LLQP Segregated Funds & Annuities · Component 1.2 · 35% of the exam
The summary of a client's existing coverage should include:
- AOnly registered plans, since non-registered investments and government benefits fall outside the review
- BA verbal summary, since a written inventory would quickly go out of date
- COnly government benefits, since workplace and personal plans are documented elsewhere
- Government benefits, workplace plans, registered and non-registered holdings, and insurance, with gaps identified
Correct answer: D) Government benefits, workplace plans, registered and non-registered holdings, and insurance, with gaps identified
A complete inventory is the basis for identifying needs. Each layer has its own rules and tax treatment.
Why the other options are wrong
- ANon-registered and government layers matter as much as registered plans.
- BDocumentation is required.
- CWorkplace and personal plans matter as much as government benefits.
Exam tip
Inventory: government, workplace, registered, non-registered, insurance → gaps.
Common mistake
Missing the beneficiary designations in the inventory.
What this tests
CISRO competency component 1.2 — Assess the client's needs and situation — which is weighted at 35% of the Segregated Funds & Annuities module. Written against the published curriculum.
More from component 1
- The first step before recommending a segregated fund or annuity is to:
- A client's 'time horizon' for an investment is:
- 'Risk tolerance' in an investor profile refers to:
- A client says he wants 'high returns with no risk of losing money'. The agent should:
- Investment objectives are commonly classified as:
- Why is the client's marginal tax rate relevant to a segregated fund recommendation?
Practice the whole Segregated Funds & Annuities module
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