State RegulationsMI specificDifficulty 2/5
A newly licensed Michigan producer wants to begin selling annuity contracts. What training requirement applies before the producer may sell annuities?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under the Michigan Department of Insurance and Financial Services (DIFS) annuity suitability training requirements, a producer must complete a one-time 4-hour annuity best-interest training course before selling annuity contracts. Nonresidents who completed substantially similar training in their home state may rely on that training instead of repeating the course.
Why the other options are wrong
- A) 3 hours is the ethics floor per continuing education period, not an annuity training requirement.
- B) That 8-and-4 sequence is the long-term care training requirement, not the annuity requirement.
- D) DIFS requires the 4-hour best-interest course before any producer sells annuity contracts.
Memory hook
Annuities: one 4-hour best-interest course, once, before you sell.