Depends on what you consider a "living prophet" - The fraudulent business of being a Mormon prophet, or something else?
God's use of prophets in the Old Testament sense ended with the introduction of the New Testament. Jesus Christ revealed all knowledge necessary. The New Testament definition of "to prophecy" is quite simply people that spread the news of Jesus Christ through preaching the Word in an exegetical manner.
But I am sure some will argue with me on the point. Might do some good to go back and study Greek and read a bit more in the Bible (and not look towards "additional revelations" found in other books...
So I take it you believe the Bible is complete and final (sola scriptura)?
If so, I have 2 questions for you:
1. “Man should not live by bread alone, but by every word that proceeds forth from the mouth of God...” Is this a true scripture?