Zaid married Baheya five years ago in Montreal. A year later, Zaid purchased two individual term-life insurance policies, one on his life and the second on Baheya's life, each with a death benefit of $250,000. The marriage didn't last long, and the couple divorced shortly thereafter. Baheya went on to marry Omar, and the new couple had a baby together, named Darwish.
Last week, Baheya died in a car accident. While settling her estate, Omar discovered that no beneficiary was designated on Baheya's life insurance policy.
To whom will Baheya's death benefit be paid?

• A. Zaid
• B. Baheya's succession
• C. Darwish
• D. Omar

Li Jun, 50, applies for a $250,000 critical illness (CI) insurance policy with his insurance agent Ming. On the application, Li Jun states that he must take pills daily to manage his hypertension. Aside from this, his health is good. Given his age and hypertension issue, he is worried that the insurer may refuse his application.
What does Ming CORRECTLY advise him?

• A. The policy will likely be issued with a premium rating.
• B. The policy will likely be issued with an exclusion.
• C. The policy will likely be issued with a lower benefit.
• D. The policy will likely be denied.

Juniper, 69, suffered a stroke a few weeks ago which left her partially paralyzed and has severely reduced her mobility. Since the stroke, she is unable to leave her home. She benefits from regular visits from nurses, massage therapists, and housekeepers. Juniper wants to claim the services on her long-term care (LTC) insurance policy and would like to know how the claim will be processed and paid.
Which of the following answers is CORRECT?

• A. Juniper will have to pay for all of the services first and then submit the receipts for all qualifying expenses to her insurer for reimbursement under the home care clause of her LTC policy.
• B. The insurer will pay for all of the services directly.
• C. The insurer will pay the nurse and the massage therapist directly and Juniper will have to pay the housekeeper out of pocket.
• D. Juniper will have to pay for all the services, but she could only claim for reimbursement of the costs of the nursing care, under the home care clause of her LTC policy.

(Julia deposited capital into an annuity contract that will start payments in three years and continue for
10 years. She is the annuitant; her son Ethan is the beneficiary.
What type of annuity has Julia purchased?)

• A. An accumulation 10-year term annuity.
• B. A deferred payout 10-year term annuity.
• C. An immediate accumulation term annuity with a 10-year guarantee.
• D. An immediate payout term annuity with no guarantee.

Mathilde, aged 65, is seriously ill-though still mentally competent. She has therefore granted her son Jim power of attorney for property so that he will help manage her investments. She has contacted her life insurance agent, asking him to gather all the information needed to:
* Transfer money from her balanced segregated fund into an income fund, and
* Convert her RRIF into a life annuity.Some signatures are required to complete the transactions.
With his power of attorney, what can Jim do if he goes to the agent's office by himself?

• A. By providing a signature, Jim can authorize the two transactions requested by Mathilde.
• B. Nothing. Mathilde herself will need to sign both requests, since she is still mentally competent.
• C. By providing a signature, Jim can authorize the fund transfer, but Mathilde herself will need to sign the documents for the RRIF conversion.
• D. By providing a signature, Jim can authorize the RRIF conversion, but Mathilde herself will need to sign the documents for the fund transfer.