LLQP Exam Dumps | Brian gives his lawyer Dave $200,000 that will be used as a down payment to purchase a condo. Brian received

Home
IFSE Institute
Life License Qualification Program (LLQP)
IFSEInstitute.LLQP.v2025-12-21.q126
Question 88

Valid LLQP Dumps shared by ExamDiscuss.com for Helping Passing LLQP Exam! ExamDiscuss.com now offer the newest LLQP exam dumps, the ExamDiscuss.com LLQP exam questions have been updated and answers have been corrected get the newest ExamDiscuss.com LLQP dumps with Test Engine here:

Access LLQP Dumps Premium Version
(300 Q&As Dumps, 35%OFF Special Discount Code: freecram)

<< Prev Question Next Question >>

Question 88/126

Brian gives his lawyer Dave $200,000 that will be used as a down payment to purchase a condo. Brian received these funds from his mother's life insurance death benefit. The money is deposited into Dave's trust account. Unbeknownst to Brian, Dave is going through financial hardship. If Dave files for bankruptcy while Brian's funds are still in his trust account, can the bankruptcy trustee seize the funds?

A. Yes, because the account is in Dave's name.

B. Yes, because life insurance benefits, once paid out, are seizable.

C. No, because the money does not belong to Dave.

D. No, because trust accounts are protected from seizure by creditors.

Correct Answer: C

Funds placed in a lawyer's trust account are legally considered to be held in trust for the client, meaning they remain the property of the client, not the lawyer. In the case of Dave's bankruptcy, his creditors cannot claim Brian's money, as it is not an asset of Dave's estate but is held specifically for Brian's use. LLQP guidelines recognize the principle that assets held in trust are protected from the trustee's personal creditors.
Hence, Brian's funds in Dave's trust account would not be seizable by Dave's bankruptcy trustee.

Your email address will not be published. Required fields are marked *

Comment: *

Name: *

Email: *

Rating: *

Verification: *

Question List (126q): Question 1: Jasper is the sole breadwinner in his family. His wife Steph...; Question 2: Edward and Shirley initiated a whole life insurance applicat...; Question 3: (Clara is saving for a house and will likely need her money ...; Question 4: Claudie's mother has been the policyholder and beneficiary o...; Question 5: Mike and Todd are both agents with Superior Insurance Compan...; Question 6: Callum is an agent with Neverland Insurance. It was recently...; Question 7: Eric is a group benefits specialist and he is meeting with L...; Question 8: Josephine visits her dentist in downtown Victoria, BC, to ha...; Question 9: (Ten years ago, Yamina invested $2,500 in a segregated fund ...; Question 10: Oliver, an insurance agent, meets with Roman and Julie. They...; Question 11: Marc, age 35, is a self-employed electrician. His annual inc...; Question 12: Alex, aged 35, has worked for many years as a salesman in a ...; Question 13: Kalei owns a $250,000 life insurance policy with an accumula...; Question 14: Three years ago, Douglas purchased a whole life insurance po...; Question 15: Larissa is a 65-year-old retired marketing executive. She is...; Question 16: Six years ago, Diu purchased an immediate life annuity with ...; Question 17: Kaamil meets with Omar, his insurance agent, to purchase a w...; Question 18: After meeting with his advisor Monica, Tom agrees to apply f...; Question 19: Marvyn meets with his client, Edlyn, a 67-year-old retired w...; Question 20: Luisa owns a balanced segregated fund currently valued at $5...; Question 21: Emeka, a new insurance agent with Sunrise Insurance, meets w...; Question 22: Cecilia, a licensed life insurance agent, delivers a life in...; Question 23: Gino, an insurance of persons representative, is cleaning hi...; Question 24: Thien is 56 years old and has recently been diagnosed by his...; Question 25: Gold, a financial security advisor, recently met with a weal...; Question 26: Vincent, aged 55, plans to retire 10 years from now after a ...; Question 27: Kirill purchases a $250,000 permanent life insurance policy ...; Question 28: (Gregory and Vanessa married at an early age and had three c...; Question 29: Paulette earns a modest income working as a delivery driver ...; Question 30: Patrick, an insurance of persons representative, gives a tal...; Question 31: (Garry, a 55-year-old self-employed individual with no pensi...; Question 32: Maverick meets with Alyssa, an insurance agent, to review hi...; Question 33: Alana, Meaghan, and Beatrice are equal shareholders of Advan...; Question 34: Arianna, a healthy 61-year-old university professor, is reti...; Question 35: Natalie and Ted, who are both 40, meet with an insurance age...; Question 36: Vasu, an insurance agent, meets with Francine, his new clien...; Question 37: Owen meets with his insurance agent, Rachel, to review his i...; Question 38: Josh is an established advisor who specializes in group bene...; Question 39: Enzo meets with his insurance agent Theo to discuss his inve...; Question 40: Zaid married Baheya five years ago in Montreal. A year later...; Question 41: Financial security advisor Juliette meets Pierre during a bu...; Question 42: Samya and Gary, who are both insurance representatives, are ...; Question 43: (Ulysses, aged 35, is a risk taker who likes to concentrate ...; Question 44: Last week, at a dinner party, Dario, an insurance agent, met...; Question 45: A few months ago, Urmish filed a complaint to the Autorite d...; Question 46: (Suzie began her career with a large law firm five years ago...; Question 47: Jonas recently graduated with his engineering degree and is ...; Question 48: Dominic suffers a heart attack on October 1 and dies a littl...; Question 49: Anita is a 50-year-old woman who is thinking of purchasing a...; Question 50: Becky opened a small bakery five years ago. Although she str...; Question 51: (Philip is applying for a segregated fund contract and must ...; Question 52: Isaac and Natasha, Quebec residents, were married 18 years a...; Question 53: Rene and Christine are 42-year-old twins. They are currently...; Question 54: Gabe and Martine are partners in a successfully run clothing...; Question 55: Kyra is the owner and president of Borealis Fit, a martial a...; Question 56: Alexandre has just become a father. He wishes to take out a ...; Question 57: Xavier meets and fills out an application form with Jose, an...; Question 58: Nathalie worked for 25 years as an administrative assistant ...; Question 59: (Joe and Joy, both aged 65, have $280,000 in savings and a $...; Question 60: Antonin and Magali are common-law partners in their thirties...; Question 61: Omar and Martha are common-law spouses employed by a company...; Question 62: Today, Sabrina suffered a severe stroke. She owns a 20-year ...; Question 63: Donald finds out from his doctor that he only has about 10 m...; Question 64: Surjit and Rajbir got married in 2010, and Surjit named Rajb...; Question 65: Andrew and Julie are married and are currently doing some ta...; Question 66: Elizabeth has a universal life policy and has been diligent ...; Question 67: Claire, Yvon's client, wants to make changes to her insuranc...; Question 68: Lily works for Cloud 9 Inc. She earned $120,000 in Year 1 an...; Question 69: Maryse, an insurance of persons representative, meets with A...; Question 70: (Vanessa, a grandmother, wants to set up a savings account f...; Question 71: Georges is a widower and sole shareholder of the firm Distri...; Question 72: Juliette owns a medium-sized business with approximately 100...; Question 73: Lacy is reviewing her life insurance policy with Paul, her f...; Question 74: Luc is married and the father of two teenagers. His annual s...; Question 75: Concilius has had a whole life (permanent) insurance policy ...; Question 76: Caleb meets with Miles, his insurance agent, to invest for h...; Question 77: Sergei meets with his insurance agent Nikita to purchase a $...; Question 78: After working nine years as an insurance agent, Jamie decide...; Question 79: Valerie, age 42, recently left her job after 15 years of ser...; Question 80: Arthur is a 79-year-old long-term care (LTC) policyholder wh...; Question 81: Ziad, aged 34, was an elementary school teacher for several ...; Question 82: Dora meets with the following clients, each of whom fills ou...; Question 83: Abishola purchases segregated funds from her insurance agent...; Question 84: Nine months ago, Osvaldo was instructed by his insurance age...; Question 85: Frankie is a newly licensed insurance of persons agent who m...; Question 86: Jeremy, aged 35 and Emily, aged 40, are common law spouses a...; Question 87: Marsha and Alexis are equal partners in an advertising firm....; Question 88: Brian gives his lawyer Dave $200,000 that will be used as a ...; Question 89: (Anthony, 26, wants to invest $500 but be able to cash it in...; Question 90: Leanna has an accidental death and dismemberment policy for ...; Question 91: Laekyn purchased an individual disability insurance policy 3...; Question 92: Melissa owns a disability insurance policy from Clarity Life...; Question 93: Cassie applies for a $100,000 renewable 10-year term insuran...; Question 94: Elizabeth is a seasoned insurance agent. She meets with Haro...; Question 95: Spouses Larry and Madge both work at the same pay grade for ...; Question 96: Arianna has been an insurance agent with Ideal Life for over...; Question 97: Francis owns a $250,000 insurance policy with an accidental ...; Question 98: Ontario residents, Juan and Maria, are a married couple appr...; Question 99: Donald is married and has two children, ages 3 and 5, one of...; Question 100: Molly took out a disability insurance policy. A few years af...; Question 101: Eloise has critical illness coverage through her group insur...; Question 102: Ae-Cha starts working for the manufacturer, Premier Vibe Inc...; Question 103: Nelson is turning 46 and wants to explore additional tax pla...; Question 104: (Business owner Timothy is reviewing information that his li...; Question 105: Nikolai owns a guaranteed renewable individual disability po...; Question 106: Insurance of persons representative Veronique is meeting cli...; Question 107: Pete is the owner of Blenheim News Tribune Inc, a company re...; Question 108: Ashley meets with her life insurance agent for a needs analy...; Question 109: Sebastian is a 44-year-old sales representative employed at ...; Question 110: Bethenny meets with Harrison, an insurance agent, to review ...; Question 111: Sidney is a professional hockey player that recently purchas...; Question 112: Agatha and Peter run a successful sole proprietorship. They ...; Question 113: Angus is involved in a motorcycle accident and due to his in...; Question 114: Ten years ago, Albert purchased a life insurance policy and ...; Question 115: Brian is a machinist. For the past seven years, he's worked ...; Question 116: Diane is an insurance agent working for Gamma Insurance Inc....; Question 117: Johann owns a $250,000 whole life insurance policy. The poli...; Question 118: Li Jun, 50, applies for a $250,000 critical illness (CI) ins...; Question 119: Last month, Suzanne purchased a life insurance policy from a...; Question 120: (Jim is buying a life annuity with insurance settlement mone...; Question 121: Anvi owns individual disability insurance that she purchased...; Question 122: Mauro works full-time for a small company that offers no ben...; Question 123: Aaliyah is a 37-year-old account manager at a large pharmace...; Question 124: Surjit and Rajbir get married in 2010 and Surjit names Rajbi...; Question 125: Constantin is a 47-year-old marketing manager earning an ann...; Question 126: (Jack is starting a new job with group medical, dental, and ...

[×]

Download PDF File

Enter your email address to download IFSEInstitute.LLQP.v2025-12-21.q126.pdf

Email:

Disclaimer:
Freecram doesn't offer Real GIAC Exam Questions. Freecram doesn't offer Real SAP Exam Questions. Freecram doesn't offer Real (ISC)² Exam Questions. Freecram doesn't offer Real CompTIA Exam Questions. Freecram doesn't offer Real Microsoft Exam Questions.
Oracle and Java are registered trademarks of Oracle and/or its affiliates.
Freecram material do not contain actual actual Oracle Exam Questions or material.
Microsoft®, Azure®, Windows®, Windows Vista®, and the Windows logo are registered trademarks of Microsoft Corporation.
Freecram Materials do not contain actual questions and answers from Cisco's Certification Exams. The brand Cisco is a registered trademark of CISCO, Inc.
CFA Institute does not endorse, promote or warrant the accuracy or quality of these questions. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Freecram does not offer exam dumps or questions from actual exams. We offer learning material and practice tests created by subject matter experts to assist and help learners prepare for those exams. All certification brands used on the website are owned by the respective brand owners. Freecram does not own or claim any ownership on any of the brands.

Question 88/126

LEAVE A REPLY

Download PDF File