LLQP Exam Dumps | Monique meets with Tyra, an insurance agent, to review her insurance needs. Tyra explains the different

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Question 88/109

Monique meets with Tyra, an insurance agent, to review her insurance needs. Tyra explains the different types of policies and asks Monique for more information on her sources of income and expenses to properly evaluate her needs.
Which document should Tyra review to better understand Monique's sources of income?

A. Cash flow statement.

B. Net worth statement.

C. Registered investment account statement.

D. Non-registered investment account statement.

Correct Answer: A

Acash flow statementprovides a detailed view of an individual's sources of income and expenses over a certain period, making it the best document for Tyra to review in order to understand Monique's financial position. This statement outlines both inflows (such as wages, rental income, or dividends) and outflows (such as rent, mortgage payments, and living expenses), allowing Tyra to gauge Monique's ability to handle insurance costs and identify any potential gaps in coverage.

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