The Cornerstone

of iCan Financial

LP 360

Test Your Knowladge

LifePlan 360 Certification Level 1

Basic Concepts

The LifePlan 360 used what type of insurance product

Traditional Whole life

Cash Value Whole Life

Term Life

Guaranteed Universal Life

Index Universal Life

What situation should you not consider refinancing a home?

When they already paid of the house

When you can decrease their payment by $250 a month

When you can only pull out less than $20,000

When they refinanced 1 year ago

When you can asses enough to pay off high interest debt

What is the rule of 72?

Your principal divided by 72 will tell you when your principal will double

Your interest rate multiplied by 72 will tell you when your principal will double

Your principal times 72 will tell you have much money you will have at retirement

Your interest divided into 72 will tell you when your principal balance will double

Your mortgage rate divided by 72 will tell you when it will be paid off

Which of these scenarios will prevent someone from starting a plan?

All of the above

Does not have enough assets to pay off all debt

None of the above

Does not contribute to a retirement plan

Does not own a home

Which of the following is not true about a LP360 plan?

Provides assess to cash value

Is probate free

Has inherent risk

Offers tax free growth

Provides tax free inheritance

Does everyone qualify?

No, applications are subject to health and suitability

Yes, everyone will qualify

What is most important in plan design?

Building a positive regular cash flow directed to the plan

Redirecting IRA contributions

Identifying assets

Identifying income

Accessing equity in a home

What are the only guaranteed growth financial products?

Real Estate and 401ks

Index Universal Life and Annuities

Cash Value Whole life and Annuities

Roth and Annuities

Trust and Cash Value Whole Life

Which of the following goals can not be achieved with LP360

Increase value of 401K

Pay off a mortgage in 9 years or less

Invest in real estate portfolio

Pay college tuition

Guaranteed retirement planning

What is a initial primary goal when developing a plan, choose the best answer?

Use equity from a home

Eliminate all debt including the mortgage

Provide cash asses day one

Sell a high death benefit

Pay off high interest debt

Your score is

Easy as 1, 2, 3

Complete BootCamp

Available on LifePlan360.com

Review Continuing Education

Additional resources and trainings

Complete the Test

Finish all 10 Quizzes

1.2.3.

Why Choose Us

Fast Hiring Process

Low Fees

Large Talent Pool

Local & Remote

Years of Experience

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iCan Financial

15601 Dallas Parkway

Suite 900

Addison, Texas 75001

Contact Us

888-772-ICAN (4226)