This course provides four hours of annuity training, which must be completed every two years by California resident and nonresident life agents who sell annuity products. The subject matter covered in this course is consistent with the outline developed by the California Department of Insurance for purposes of this training. For resident agents, this four-hour training requirement is part of, not in addition to, their continuing education requirements.
Learning Objectives
At the conclusion of this four-hour course, the student should be able to:
- Understand how fixed, variable, and index annuity contracts affect consumers;
- Understand issues of annuity product ethics and compliance;
- Understand the licensees’ legal and ethical obligations to the consumer, insurer, and regulatory authorities, regarding the “Best Interest” standard of suitability in making annuity product recommendations;
- Be able to define the “Best Interest” standard of “suitability”;
- Be able to define the types of information that must be obtained from the consumer in order to make annuity product purchase recommendations which comply with the “Best Interest” standard of “suitability”;
- Be able to identify the product features and circumstances that would cause an annuity product to be suitable and unsuitable for a consumer using the “Best Interest” standard of “suitability”;
- Understand the processes in place to audit and supervise licensee activities;
- Identify the regulatory requirements that have been enacted to protect senior consumers during purchases and exchanges of annuity products;
- Identify violations of the “Best Interest” standard of suitability; and
- Know and understand the penalties provided for violations of applicable laws.
The California Department of Insurance is released of responsibility for approved course material that may have a copyright infringement. In addition, no course approved for either prelicensing or continuing education hours or any designation resulting from completion of such courses should be construed to be endorsed by the Commissioner.
No advance preparation needed
Program level – Basic
Program prerequisites – None
Delivery method – Self-study
Recommended CE credits – 4
Recommended field of study – Insurance/Financial Planning/
*Sircon charges a fee of $0.65 per hour to report your credit hours.
Copyright 2025 by Winn Publications ALL RIGHTS RESERVED. NO PART OF THIS COURSE MAY BE REPRODUCED IN ANY FORM OR BY ANY MEANS WITHOUT THE WRITTEN PERMISSION OF THE COPYRIGHT HOLDER. All materials relating to this course are copyrighted by Winn Publications. Purchase of a course includes a license for one person to use the course materials. Absent specific written permission from the copyright holder, it is not permissible to distribute files containing course materials or printed versions of course materials to individuals who have not purchased the course. It is also not permissible to make the course materials available to others over a computer network, Intranet, Internet, or any other storage, transmittal, or retrieval system. This document is designed to provide general information and is not a substitute for professional advice in specific situations. It is not intended to be, and should not be construed as, legal or accounting advice which should be provided only by professional advisers. No advance preparation needed Program Level - Basic Program prerequisites - None Delivery method - QAS self-study Recommended CPE credits - 4 Recommended field of study - Insurance/Financial Planning
