Alex, aged 35, has worked for many years as a salesman in a small used...

Vendor: IFSE Institute
Product: LLQP
Update on: Feb 3, 2026
Questions: 328

IFSE Institute LLQP Question Answer

Alex, aged 35, has worked for many years as a salesman in a small used car dealership. He earns $70,000 a year. He has no group insurance at work and no individual insurance. Single and without children, his priority is to save enough money to retire at age 60. He makes regular contributions to his RRSPs, in which he has accumulated $400,000. He owns a condo valued at $250,000 on which he has an uninsured mortgage of $150,000. What financial risk is Alex most exposed to?

Inflation.

Loss of income.

Longevity.

Drop in standard of living.