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Patricia is a laboratory technician who normally earns $4,000 a month. A few months ago, she injured her leg rollerblading and was unable to work for four months. Since she owns a disability insurance policy with a residual benefit option, she received $2,400 a month from the insurer. Now that she is recovered, her doctor has cleared her to slowly return to work. Since she cannot work her regular full-time hours, her pay has decreased to $3,000 a month.
How much will she receive from her residual benefit when she returns to work?

• A.$0
• B.$1,000
• C.$2,400
• D.$600

(Clara is saving for a house and will likely need her money within a year. She seeks a segregated fund with minimal penalties for quick access.
Which sales charge should Irving recommend?)

• A.No-load
• B.Trailing commission
• C.Front-end load
• D.Deferred sales charge

Pierre is an insurance of persons representative. His new client, Carole, wishes to buy life insurance but wants to know everything about life insurance products before making a choice. What are Pierre's responsibilities in this case?

• A.Pierre must ask Carole to put all her questions in writing and send them to the insurer
• B.Pierre must describe the products he offers to Carole and explain the coverage offered. He must clearly indicate and explain the coverage exclusions
• C.Pierre can simply give Carole the insurer's explanatory brochures providing details on the products. He must avoid giving explanations so as not to influence Carole
• D.Pierre must have a conference call with the insurer and Carole so that she can ask the insurer any questions she may have

Cassie applies for a $100,000 renewable 10-year term insurance policy through Mason, her insurance of persons representative. A month later, when Mason meets with Cassie again to deliver her contract, Cassie says she had to have a biopsy the previous week for a persistent cough. Mason tells her not to worry because the policy is already accepted. He completes the policy delivery. Six months later, Mason receives a call from Cassie's boyfriend informing him that Cassie died of stage 4 throat cancer.
How will the insurance company handle the claim?

• A.No death benefit will be paid because Mason did not inform the insurance company of the change in Cassie's insurability.
• B.The death benefit will be paid because Cassie visited the doctor after filling out the application form.
• C.No death benefit will be paid because Cassie died within 2 years of obtaining the policy.
• D.The death benefit will be paid although Mason was negligent for delivering the policy and he would be liable towards the insurer.

Manitoba resident Patrice works for ABC Inc. where he is covered by group life insurance. He consults Louise, his insurance agent, because he wants to maintain some life insurance coverage when he retires at age
65.
How much of Patrice's group life insurance can he convert to individual life insurance coverage when he retires?

• A.Up to $200,000 with proof of insurability.
• B.None, because he must leave the plan.
• C.The amount of his group life insurance coverage by providing proof of insurability.
• D.Up to $200,000 without proof of insurability.