Annuities (Meets Suitability & Best Interest Guidelines) - VA

Insurance Continuing Education in Virginia

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Your Price: $23.35

4 credit hours

Price includes
CE Course :
$12.95
Roster Fee :
$10.40

* A roster fee of $2.60 per credit is required to file Insurance Continuing Education credit in Virginia. 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:
March 29, 2025 (365 Days)

Description

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:

  1. Describe a typical annuity buyer and the principal reasons individuals buy annuity contracts
  2. List the characteristics of annuities and the benefits of tax deferral
  3. Explain how variable annuities work
  4. Identify the cash value management tools available to a variable annuity contract owner
  5. List the factors to be considered in determining variable annuity suitability
  6. Calculate interest to be credited under various fixed annuity contracts
  7. Explain the operation of indexed annuities
  8. Describe how annuities are taxed
  9. 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

Need Proctor?No
Question Count:25
Passing Grade:70%
Attempts to Pass:Unlimited
Note: If you choose to request additional credit types while taking this course, the number of exam questions and proctor rules may change to meet those credits' requirements.

Course Details

Course Number:223428
Approved Title:Annuities (Meets Suitability & Best Interest Guidelines)
Approved Credits
4 credits in Annuity Best Interest 4
Provider:InsuranceStudy.com
Provider Number:124483
Topics Covered:Annuities, Annuity Best Interest
Program Level:Intermediate

This course has been certified by:

ClearCert Seal
Annuity Seal

Rules for Virginia Insurance Continuing Education

  • Self-Study course material is approved as either online or correspondence. Online training is delivered through an internet based learning environment. Correspondence is delivered by a PDF/Textbook provided directly to the student upon enrollment. You must complete review of the course material before accessing the final exam.
  • Exam is closed book.
  • Agents cannot receive CE credit for a course taught in alternative formats (a classroom course, online course, video or audio conference, web-conference–based, etc.) if the curriculum is based on the same published materials; this rule applies to any variation of course types.
  • ONLY the Virginia Insurance License Number (VLN) or the National Producer Number (NPN) are permitted forms of student identification. Social Security Number, driver’s license number, and all other forms of personal identifiers are strictly prohibited.
  • Students are not permitted to complete more than eight credit hours per day. Any course exceeding 8 hours of credit must be completed with a start and end time which is greater than 24 hours apart.
  • Student Certification forms which are distributed during your completion of the course are to be submitted to our office no later than 7 days from the date you successfully complete your final exam. All online exams completed on this platform include your electronic certification as part of the exam process.
  • The state of Virginia requires providers of online training to restrict access to the final exam until a student has completed the course material in its entirety. To meet these requirements we have put in place a Course Material Verification code on single module online courses which can be found on the last page of your course materials. This code will be required prior to accessing the final exam. For courses which are correspondence, videos or multiple modules, you must review the entirety of the course before the start exam button will appear.
  • The state of Virginia charges an additional fee of $2.60 per credit hour.