Variable Annuity Information

Here is a variable annuity update for the series 6, series 7, series 24, series 26, series 65 and series 66 exams


FINRA Rule 2821
In light of the large number of variable annuity products that are being sold or exchanged, it has come to the attention of the regulators that supervision and training for variable annuities within the industry is inadequate. This has resulted in the use of some “questionable” sales tactics. FINRA has decided that there needs to be stronger rules in place. Rule 2821 is designed to address the sales practices, supervision and training of associated persons with regards to deferred variable annuities. This rule is not designed to supercede FINRA’s general suitability rule (Rule 2310), but rather to enhance it.
The rule applies to any stand alone purchase of a deferred variable annuity, as well as to any exchanges (ie: trading one variable annuity for another variable annuity). It does not apply when a customer makes changes in his sub-account, to any payments made after the initial purchase (ie: additional periodic payments) or if the variable annuities are purchased within a qualified, employer sponsored retirement plan.

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http://www.securitiesce.com/

Should I take the Series 24 exam or the series 9/10 exam?

The Series 9 and series 10 exams register an individual as a General Securities Sales Supervisor and is a limited principal examination. It qualifies an individual to supervise sales activities of a broker/dealer who are members of an exchange, The Municipal Securities Rulemaking Board, and FINRA, The Series 9/10 qualifies the branch manager to supervise sales activities in corporate securities (equity and debt), investment company products and variable contracts, municipal securities, options, government securities and direct participation programs The General Securities Sales Supervisor Exam does not allow the sales supervisor/branch manager to supervise underwriting, trading, advertising, or overall firm compliance.

The Series 24, General Securities Principal Exam, qualifies a candidate as a general securities principal for FINRA only. Passing the Series 24, allows an individual to supervise all areas of the member's investment banking and securities business, such as underwriting, trading and market making, advertising, or overall compliance. While the scope of the general securities principal's supervisory authority is broader than the Series 9/10, the Series 24 is limited in the products that it covers. The general securities principal qualification does not cover government securities, municipal securities and options.

Take some free series 24 exam questions on our site at:
http://www.securitiesce.com/web/pages/series24/index.php

Take some free series 9 exam questions on our site at:

http://www.securitiesce.com/web/pages/series9/index.php

Take some free series 10 exam questions on our site at:

http://www.securitiesce.com/web/pages/series10/index.php

Should I take the series 7 or series 62 exam?

Should I take the Series 7 or Series 62?

We get a lot of students who have the series 6 who want to do an occasional stock trade ask us which exam they should. Most ask if they should take the series 7 or the series 62 exam. We also receive many questions from students who want to trade various products and want to know which exam they should take. Below is a good breakdown of the type of business that may be conducted with a series 7 and with a series 62:

The Series 7 General Securities Representative Examination qualifies the individual to transact business in:
corporate stocks and bonds
rights
warrants
real estate investment trusts (REITs)
collateralized mortgage obligations (CMOs)
municipal securities
options-equity, index, and foreign currency
investment company products/variable contracts
direct participation programs
exchange traded funds (ETFs)

The Series 62 Corporate Securities Limited Representative Examination is for individuals who will only trade corporate securities . A series 62 Limited Representative may transact business in:
corporate stocks and bonds
rights
warrants
REITs
collateralized mortgage obligations (CMOs)
exchange traded funds (ETFs)
Take some free series 7 questions on our site at:

http://www.securitiesce.com/web/pages/series7/index.php

Take some free series 62 questions on our site at:

http://www.securitiesce.com/web/pages/series62/index.php