Duties and Conduct
LLQP Ethics and Professional Practice -- duties-conduct competency. Content derived from the CISRO LLQP competency profile (public document), the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), the federal PIPEDA, and applicable provincial insurance legislation. This is independent study material; ExamCAN is not affiliated with CISRO, IFSE, or any provincial insurance regulator. "LLQP" is used for identification only. Verified by ExamCAN insurance-broker domain review against current public sources. SME certification (optional complementary badge) pending.
The LLQP Ethics and Professional Practice module tests a single unifying competency: develop an ethical professional practice in compliance with the rules governing the life insurance and insurance of persons sector. Everything in this section flows from that mandate.
A life insurance agent, accident and sickness agent, or representative in insurance of persons enters a profession that carries two intertwined obligations. First, an obligation to the client: to act in the client's best interest, assess their needs, recommend suitable products, and deal with them honestly. Second, an obligation to the public and the regulatory regime: to comply with licensing requirements, anti-money-laundering rules, privacy law, and the discipline and complaint mechanisms that protect consumers.
Violations of either dimension can result in licence suspension or cancellation, financial penalties, civil liability, or criminal prosecution. The exam tests recognition of these obligations, not memorization of penalty schedules.
Recall: What is the overarching competency the LLQP Ethics module tests? Name the two broad dimensions of a licensed agent's obligations.