How Fixed Variable and Index Annuity Contract Provisions Affect Consumers

  • Credits: 4
  • Format: Self-Study eBook
  • Field of Study: Specialized Knowledge
  • Author/Speaker: Paul J. Winn
Course ID: Advanced Preparation: Experience Level:
PW-806.21 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© July 2020 General Understanding of Management N/A

*** Global CPE is not registered for Insurance CE in the state of California. This may be taken for Specialized Knowledge CE***


This course was developed to provide 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 one of four topical outlines 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

  • Chapter I: Annuity Suitability
  • Chapter II: Contract Provisions Common to Annuities
  • Chapter III: Income Distributions
  • Chapter IV: Variable Annuities
  • Chapter V: Fixed Annuities
  • Chapter VI: Indexed Annuities
  • Chapter VII: Available Riders
  • Chapter VIII: Penalties

Learning Objectives:

After reading the course material, you will be able to:

  • Understand the producer’s legal and ethical obligations toward the consumer (and to the insurer and to regulatory authorities) with regard to the suitability of annuity product recommendations.
  • Be able to define “suitability”.
  • Be able to define the types of information that must be obtained from the consumer in order to make suitable annuity product purchase recommendations.
  • Be able to identify the product features and circumstances where an annuity product would be suitable and where it would be unsuitable for a consumer.
  • Identify the regulatory requirements that have been enacted to protect the senior consumer during the purchase and exchange of annuity products.
  • Identify how violations of suitability standards may be identified.
  • Know and understand the penalties provided for violations of applicable laws.

Who Should Attend:
  • All Certified Public Accountants (CPAs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s: