LLQP practice question 1 of 35
Ben and Pam, both aged 37, are married with three young triplets, Lucas, Jack, and William. Ben works as a pharmaceutical rep, and Pam is a…
Choose your answer, then check it against the explanation.
Ben and Pam, both aged 37, are married with three young triplets, Lucas, Jack, and William. Ben
works as a pharmaceutical rep, and Pam is a stay-at-home mom. Ben’s monthly salary is $6,000. An
unforeseen accident happening, where Ben were to die, would leave Pam and the kids in serious
financial trouble. Ben and Pam want to address this, so they meet with a licensed life insurance agent
to discuss purchasing a life insurance policy. The agent, assuming an interest rate of 4%, shows Ben
and Pam the capitalized value of his lost income.
Based on the above information, using the income replacement approach, how much life insurance
does Ben need?
Question 1 of 35
Keep practicing
Take the free LLQP practice test
Ten exam-style questions with answers and explanations, plus the exam facts and study guides.
More questions
Other LLQP practice questions
- Question 2After completing a thorough needs analysis, Dimitri, an insurance agent with Health Assur…
- Question 3Dominic suffers a heart attack on October 1 and dies a little over a month later, on Nove…
- Question 4(Eric, aged 28, currently works for an accounting firm. He still lives with his parents b…
- Question 5Dorothy, age 36, is an architect. She runs her own office with the help of two assistants…
- Question 6On June 5, Karl completed an application for critical illness coverage and paid an annual…
- Question 7Wesley is a self-employed plumber. He meets with a licensed life insurance agent to explo…