An integral part of an investor's profile is having adequate life insurance, which means this topic will likely be a focus of an investment adviser representative's discussion with clients. A representative must understand that she must be licensed to sell insurance and be knowledgeable about the fundamental terms and characteristics of life insurance contracts. Given the different types of policies and the various riders that can be used to enhance and personalize the contracts, it's important for the IAR to have a good foundation in the products. In addition, the IAR should be able to discuss the clauses, policy and premium provisions, as well as the non-forfeiture options that aredesigned to protect the policyowner. The course will also describe the various ways that beneficiariesmay receive distributions and how those may be taxed.
This course examines the different types of life insurance policies, their basic characteristics, and the different client profiles for whom they're best suited. The course will address the advantages of both term lifeinsurance and permanent life insurance, including whole life, universal life, variable life, and variable universal life insurance. The details on what makes certain insurance products to be classified as asecurity will also be addressed. The subaccount structure will be reviewed as well as how choice of the specific subaccount can influence the cash value and the ultimate death benefit.The course will conclude by examining the tax treatment of life insurance - from the payment of premiums through the distribution of a death benefit - and how a 1035 Exchange can be used by a contract owner to make changes in the type of insurance product chosen.
Market manipulation can be destructive to both the securities industry and the confidence of investors.This course will examine the history and case law related to the use of inside information. Importantterms will be defined and specific rules designed to prevent the use of material, non-public information will be examined. Through the use of case studies, readers will gain an understanding of the importance of combating the flow of inside information because of its impact on the market.
This course examines the importance municipal bonds, describes the fundamental characteristicsof both general obligation and revenue bonds, and the differences in analyzing the financialstrength of the issuer. A review of Moody's, Standard & Poor's, and Fitch Investor Services' approach to rating issuers and the methods that may be used to enhance the credit of specific bonds.An overview of the tax implications of investing in municipal debt is provided, including the calculations of taxable equivalent yield and net yield, as well well as the tax impact of purchasingoriginal issue discount (OID) bonds, secondary market discount bonds, and premium bonds.
This course will focus on the fundamental characteristics of mutual funds and a discussion of the role of the Board of Directors, the advantages of mutual funds, and the terminology used by mutual funds.The process through which an investor purchases and redeems mutual funds will be reviewed. Thecourse will describe how shares are continuously issued as new and not traded on an exchange.The course will examine how mutual funds distribute shares to investors and methods of assessingsales charges, including front-end, deferred, and 12b-1 fees. The process of calculating sales charges and the ability to reduce front-end charges will be explained. The different types of mutual fundsand their objectives will be reviewed to provide the reader with an understanding of howto determine which funds will best meet investor goals.
This course examines the history of NASAA and the regulator framework that applies to both broker-dealers and investment advisers. By analyzing the Uniform Securities Act and various model rules and statements of policy, readers will gain an understanding of the importance of state securities laws. Through the use of case studies, the rules regarding the protection of senior and vulnerable investors as well as using appropriate professional designations will be described. The course will also examine the ethical obligations and fiduciary duties of investment advisers and their representatives.
The course will provide an overview of private capital investments, focusing on private equity and private credit funds. After introducing some of the exemptions issuers of private securities rely on, students will learn about the strategies used by private equity and private credit fund managers. The last section of the course will explain return measurements used by private equity managers and the strengths and weaknesses of each measurement.
The course will examine the evolution of trusts and then provide the history of both the Prudent Man Rule and Uniform Prudent Investor Act (UPIA). The concept of portfolio diversification and why it's an ethical requirement will be analyzed. Violations of the UPIA will be described and a hypothetical case study with examples of a trustee committing ethical violations is provided.