Choose the relationship
Recognize what the question is asking before touching the numbers.
Calculation questions are most useful when you know what the number means. LLQPprep separates calculation practice so you can repeatedly identify the relationship, select the correct inputs, calculate and interpret the result.
Calculation practice can include
- Insurance-needs and coverage-gap relationships
- Premium, benefit and policy-value relationships where examinable
- Investment return, withdrawal and allocation relationships
- Annuity and retirement-income relationships where applicable
- Tax-related numerical applications where the curriculum requires them
Select the inputs
Separate relevant figures from distracting client information.
Calculate
Apply the formula or numerical relationship accurately.
Interpret
Understand what the result means for the client or product.
Compare
Use the result to distinguish between possible recommendations.
Spot the trap
Learn common errors such as inverted ratios, wrong bases or irrelevant inputs.