Annuities (Meets Suitability & Best Interest Guidelines) - OH
Insurance Continuing Education in Ohio
Your Price: $16.95
4 credit hours
* A roster fee of $1.00 per credit is required to file Insurance Continuing Education credit in Ohio. That fee is collected as part of your purchase and is then used to pay for the filling of your credits.
If purchased today, this course must be completed by:
December 31, 2024 (256 Days)
CE for CFP® Professionals
In this course you will be introduced to terms and concepts used in connection with annuity contracts. Each new term is defined in the text and included in the Glossary. The concepts are explained and, where appropriate, are demonstrated through the use of examples.
At the conclusion of each lesson, a Chapter Review is presented to test comprehension of the material presented in the chapter. A response is given to each answer you select to the questions in the Chapter Review affirming the correct choice or explaining why the choice you selected was incorrect.
This information is important for agents selling annuity contracts to customers and for advisers assessing the appropriateness of an annuity contract for a client. An understanding of the operation, advantages and disadvantages of annuities and the methods used to determine their cash value will assist the agent and adviser to better serve consumers and help ensure that annuity contracts are recommended and purchased only when they are suitable to meet client needs.
Learning Objectives: Upon completion of this basic course, the student should be able to:
- Describe a typical annuity buyer and the principal reasons individuals buy annuity contracts
- List the characteristics of annuities and the benefits of tax deferral
- Explain how variable annuities work
- Identify the cash value management tools available to a variable annuity contract owner
- List the factors to be considered in determining variable annuity suitability
- Calculate interest to be credited under various fixed annuity contracts
- Explain the operation of indexed annuities
- Describe how annuities are taxed
- Recognize the requirements imposed on the sale of variable annuities under Regulation Best Interest
PLEASE NOTE: In most cases, completion of this course in a Non-Resident state will not be eligible for insurance continuing education. You will be issued a certificate showing completion of the course to meet your Annuity Training requirement for the ability to sell, solicit and negotiate annuity products for your carriers.
Exam Details
Course Details
This course has been certified by:
Rules for Ohio Insurance Continuing Education
- Course material may not be downloaded.
- Exam is closed book.
- For all online and self-study courses there must be an exam which consists of a minimum of 10 exam questions per each hour of approved continuing education credit.
- All exam questions must be constructed in a four-alternative multiple choice format.
- Payment is required prior to accessing course materials.
- A provider shall prevent access to the course unit/chapter questions and final exam before the agent reviews the course materials in their entirety.
- An affidavit of personal responsibility must be completed prior to the processing of credits for continuing education. The affidavit is to be made available only after the course examination is successfully completed.
- Student information will not be sold or distributed to any third party without prior written consent of the student. Taking the course shall not constitute consent.
- The state of Ohio charges an additional fee of $1.00 per credit hour.
Provider Rules for Ohio Insurance Continuing Education
- A course will not be considered complete until all requirements of that course are fulfilled including the review of course material, completion of exam with a passing grade, and the receipt of any additional paperwork that may be required by your state Department of Insurance including but not limited to an Affidavit of Personal Responsibility.
- State and certification rules and regulations must be adhered to at all times. In the event of a conflict, the state or certification rules and regulations will always take precedent over any provider policies. Applicable rules of your state and/or certification are listed above.
- A final exam is required at the end of each course. All exams are multiple choice with the quantity of questions increasing exponentially depending on the number of hours available for credit. Each exam attempt will consist of a new set of randomly selected questions and answers.
- Courses are available for one year from the date of purchase unless otherwise indicated. This time frame may be impacted by course expiration dates, course content updates, or author/company restrictions on availability.
- In order to be eligible for a course refund, the student must request a refund in writing within one year of the purchase date. To be eligible for a refund, the course must be intact, meaning the student has not yet begun the course material. If the student is entitled to a refund, InsuranceStudy will refund the purchase price using the original method of payment. If the student has already started the course material, the student is eligible for an exchange to a different course of the same or greater value with any difference in price due at the time of the exchange. In the event the exam has been accessed, no refund shall be granted.
- Students cannot be guaranteed that they will receive a passing grade.
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- Student information will not be sold or distributed to any third party without prior written consent of the student. Taking the course shall not constitute consent.
- Each exam must be answered with a minimum of 70% correct to achieve a passing grade. Some specialty certification or designation courses may have a higher passing standard and those exams will be subject to the higher requirement.
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