Insurance of persons representative Veronique is meeting clients referred by an acquaintance for the first time.
Observing some suspicious behaviours on their part, Veronique is thinking about reporting the transaction to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Which behaviours are signs of suspicious transactions?

• A. The clients are in a hurry, do not seem interested in knowing the long-term benefits of the transaction, and want to pay the amount due in cash
• B. The clients seem interested in knowing the long-term benefits of the transaction, which is simple, and the amounts involved seem very high given their apparent financial situation
• C. The clients ask a lot of questions about internal controls and the amounts involved seem very high given their apparent financial situation
• D. The clients are in a hurry, the planned transaction is fairly simple, and they want to pay the amount due in cash

Frankie is a newly licensed insurance of persons agent who meets with Walter, her father's friend since college. Walter is in his late forties, and he mentions that he would like to purchase a life insurance policy and start planning for his retirement. Frankie has never sold a segregated fund before. Not wanting to disclose her inexperience, she clumsily fills out the application form to invest in segregated funds. Which responsibility did Frankie breach?

• A. Integrity
• B. Competence
• C. Product suitability
• D. Disclosure

Harper owns a disability insurance policy that will pay her a monthly benefit if she becomes unable to work.
At the time she applied for the policy, Harper was a new graduate with an annual income of $60,000, and she qualified for a monthly benefit of $3,000. Instead of taking the maximum benefit, she focused on paying off her student loans and keeping her insurance premiums low. She elected to purchase a monthly benefit of
$2,500 and add the future purchase option (FPO) rider for up to $500 a month of additional coverage. Now she is further along in her career, Harper earns $100,000 a year, and she meets with her insurance agent Trish to increase her coverage. Harper would like her new monthly benefit to be $5,000.
Which of the following statements about Harper's coverage is TRUE?

• A. Harper can exercise the FPO, increase her monthly benefit by $500, and apply for an additional $2,000 of monthly benefit with full medical underwriting.
• B. Harper cannot apply to receive an additional $2,000 of coverage, but she can exercise the FPO and increase her monthly benefit by $500.
• C. Harper can exercise the FPO and increase her monthly benefit by $2,500.
• D. If Harper wants to increase her coverage, she will have to apply for an additional $2,500 of monthly benefit with full medical underwriting.

(Nancy has invested $100,000 in mining company stocks in her local area.
To which of the following risks is Nancy most exposed?)

• A. Interest rate risk
• B. Industry risk
• C. Inflation risk
• D. Liquidity risk

Abishola purchases segregated funds from her insurance agent Bob. Before finalizing the transaction, she tells Bob that she will need the funds in a few months to make a down payment on a condo. Later, when Abishola calls to withdraw her funds, Bob informs her that she will incur a fee for withdrawing her funds prematurely.
Abishola complains to Bob, and then to Bob's supervisor, without receiving a satisfactory response. To which organization can Abishola escalate her complaint?

• A. Canadian Council of Insurance Regulators.
• B. OmbudService for Life and Health Insurance.
• C. Office of the Privacy Commissioner of Canada.
• D. Assuris.