2007 Course Catalog

Firm Element • Insurance Continuing Education • CFP Continuing Education • NASD Exam Preparation • Insurance Pre-Licensing • Ethics • Anti-Money Laundering Training

About RegEd

RegEd (www.RegEd.com) is the leading provider of continuing education and proven web-based compliance systems to the financial services industry. Founded more than 10 years ago by former securities industry regulators and attorneys, RegEd is driven by technology innovation and has developed an intelligent line of web-based products that efficiently handle compliance regulations for clients. RegEd’s extensive course catalog is used by more than 300,000 registered representatives and insurance agents at more than 600 financial services and insurance companies, more than any other vendor.

The publisher may make courses unavailable when regulatory changes necessitate content updates. Please Check the RegEd website (www.RegEd.com) for the current list of available courses.

The Industry’s Most Powerful

Compliance Management Solutions
Using the most advanced technologies available, in combination with a depth of regulatory compliance expertise, RegEd delivers industry-leading, enterprise-wide systems for insurance agent and registered representative compliance. RegEd’s suite of tailorable solutions automate every step, process and procedure required for the federal and state compliance associated with your registered representatives and insurance agents.

Compliance Management
ACM OnDemandTM On Demand Webcast Saves Time and Money
RegEd’s ACM OnDemand provides clients with a seamless solution for conducting their Annual Compliance Meetings (ACMs). On November 30, 2006 the NASD issued an interpretation to Rule 3010(a)(7) that provides firms with greater flexibility to satisfy the ACM requirement. Firms can now use “on-demand” webcast technology to deliver their ACMs to their registered representatives, without using a live facilitator, provided certain technological safeguards are followed. ACM OnDemand will enable a firm of any size to comply with the NASD’s requirements as well as allow firms to save time and travel expenses.

AuditTrax Schedule, Deliver and Track Audit Results Online
AuditTrax is the only tool available to increase the efficiency and visibility of your audits. An enterprise calendar tracks scheduled audits, email notifications are automatically triggered, and results are entered for tracking and reporting. A post-audit task manager continues to track and remind auditors of outstanding findings, ensuring that all identified issues are resolved.

AdTrax Streamline the Approval Process, Ensure Compliance
Representatives upload electronic versions of their print ads, brochures or marketing materials into AdTrax using a request summary that captures all relevant data, including: format, market segment and intended use. Representatives regularly receive email status regarding the progress of their submission and may resubmit any requests that require changes. A permanent archive record of each request, update, comment, suggestion and approval is retained and can be downloaded in a report or electronic format.

ComplaintTrax Manage Compliance with NASD Rule 3070
Complaint management has never been easier. Use Complaint Trax for preparing, submitting and tracking complaints and disclosures, including attachments and notes. Flexible search and reporting capabilities allow you both detailed and summary access to specific complaints or a full history. Automated notifications inform administrators of reportable complaint or disclosure events.

Annual Compliance Questionnaires Eliminate Paper and Improve Compliance
RegEd’s highly customizable Compliance Questionnaire system can increase your efficiency while providing detailed, systematic access to results, automated answer-dependent prompts and trackable compliance next steps. Define and set red flags for predetermined answers to certain questions and appropriate supervisors are immediately notified. Our automated system provides valuable insight into key areas of a representative’s business practices, prior to a face-to-face meeting.

Annual Compliance Meeting Host an Online, Interactive, Real-Time Meeting
With RegEd, you can host up to 100 representatives and agents per online meeting, allowing them to fulfill the Annual Compliance Meeting requirement from the comfort of their own office or home. Polling questions interspersed throughout the presentation ensure that attendees are logged in and paying attention. RegEd’s Live Meeting Support assists your leaders in getting started, and assists representatives as needed. RegEd processes attendance data, and polling results and emails certification to all attendees who meet compliance requirements.

Training & Continuing Education
Financial Training NASD Exam Preparation
Whether you are interested in a single printed course, virtual classroom or a company–wide training program for multiple exams, RegEd has the expertise and quality NASD Exam Preparation materials that will give you the most positive results possible. Available courses include Series 4, 6, 7, 9/10, 24, 26, 53, 63, 65, and 66.

Insurance Pre-Licensing
In concert with our partner ABLE Incorporated, the nation’s preeminent provider of insurance pre licensing products and services, RegEd offers a full suite of course material and programs designed to accommodate every learning style.

Firm Element The Industry’s Leader Since 1996
RegEd conducts more than 600 Firm Element training programs each year with courses authored by RegEd’s network of subject matter experts and developed to include interactivity to thoroughly engage the registered representative in the topic and graphically enhanced to improve the learning experience. Training programs are completely customized for the client and can accommodate any variety of course assignments associated with your firm’s hierarchy.

Insurance Continuing Education National Approval, Comprehensive Library
RegEd offers complete insurance continuing education in both self-study courses and live course administration services. RegEd also creates advanced virtual universities to address specific company concerns or procedures.

Professional Designation CFP, PACE and Others
Many of RegEd’s courses are also approved for professional designation, including CFP, and PACE, often taking one course can satisfy many of the requirements for these licenses.

Licensing & Registration
RegEd XchangeTM Enterprise-Level Registration and Licensing
Gain control of your data and your compliance processes with the industry’s leading ASP enterprise solution for new hire processing, contracting, securities registration, insurance licensing and producer data exchange. One user-friendly front end, with links to CRD, NIPR and your back-end databases, eliminates redundant data-entry and inconsistencies, while maximizing efficiency and ensuring event-driven review, permissions and notifications for the strictest adherence to compliance standards.

Registration & Licensing Services Our Staff Fulfills Your Needs
Tailor our comprehensive suite of registration and licensing services to suit your needs. Outsource a single, complex project, a specific filing type such as license renewals, or the entire scope of your registration and licensing needs. Our knowledgeable staff can order supporting documents, prepare forms, and validate your existing representative or agent information against regulatory databases.

RxeconcileTM Pain Free Synchronization with Regulatory Databases

RxeconcileTM gives you a way to compare your representative and producer records with CRD and NIPR to identify inconsistencies before the auditors find them. RegEd will conduct the match and provide a file of irregularities. Our Registration & Licensing Services team will even work with you to remedy them, if you prefer.

SRi CompliancePROTM Comprehensive Summaries of Current State Licensing Requirements
Don’t search the Internet looking for 51 sets of disparate rules and regulations. Using SRi get up-to-date summaries of the state license, appointment and termination statutes, regulations and administrative requirements for 51 U.S. jurisdictions in a single user-friendly format. SRi also includes helpful tools such as compliance checklists, fillable forms and quick reference charts.

PDB Online Instant Access to Producer Licensure and Appointment Information
With PDB Online, you have detailed access to state producer databases at your fingertips. With our user-friendly interface you can review licenses, appointments and background data, print the results or save them in your electronic files for compliance record keeping.

Table of Contents
Firm Element and Insurance CE
I. Banking II. General III. Institutional IV. Insurance & Financial Planning V. Investment Advisor

1
1 5 15 25 51

VI. Securities

85

Financial Training
I. NASD Exam Preparation II. Insurance Pre-licensing

111
113 115

Course Index

117

For more information about RegEd’s products and services, phone 800.334.8322, visit www.RegEd.com, email sales@reged.com or mail in the attached request and we will send you the printed material. Catalog Publication Date, November 2006

New Courses for 2007
Practical Estate Planning, Second Edition [PEP_06]
This course explains wills, advance directives, annuities, insurance, gifts, trusts and their functions as estate planning devices. The course provides an in-depth discussion of topics such as estate taxation, components of a will, gift giving, use of trusts, use of life insurance, use of annuities, suitability of recommendations and consumer protection. May qualify for insurance or professional designation continuing education credit.

Anti-Money Laundering Annual Update 2007
Anti-Money Laundering Annual Update 2007 offers an overview of regulations passed and developments occurring in 2006 that affect broker-dealers’ efforts designed to avoid terrorist financing and money laundering.

Anti-Money Laundering Annual Update for Non-Registered Representatives
Anti-Money Laundering Annual Update 2007 (NR) provides an overview of regulations and developments occurring in 2006 that affect the efforts of non-registered personnel to avoid terrorist financing and money laundering. The course is provided in case-study format.

Anti-Money Laundering Practices for Institutional Clients
AML Practices for Institutional Clients addresses the anti-money laundering rules applicable to brokerdealers in serving the needs of institutional clients. The text provides a brief statement and discussion of each applicable rule followed by a case study demonstrating its application to a hypothetical fact pattern.

Regulation SHO
Regulation SHO explains the rules governing short selling and their applicability to institutional investors. The course discusses threshold securities, marking requirements, and the amendments proposed in 2006 designed to reduce the number of persistent failures to deliver by eliminating the grandfather provision and narrowing the options market maker exception.

Institutional Customer Account Documentation Requirements
Institutional Customer Account Documentation Requirements addresses the documentation requirements specific to institutional customer accounts. It examines NASD Rule 2441 requiring disclosure and consent when trading on a net basis with customers and discusses the Rule’s applicability to institutional customers.

Supervisory Annual Update 2007
Supervisory Annual Update Year 2007 focuses on the significant changes in laws and rules that occurred in 2006 that impact the duties of those personnel responsible for supervising financial services professionals.

Ethical Issues
Ethical Issues looks at real-world ethical concerns encountered by registered representatives and insurance agents in their day-to-day interaction with customers. Provided as a series of case studies, the course presents the student with ethical issues and asks that he or she apply fundamental ethical principles to them. An ethical analysis of each situation is then offered. May qualify for insurance or professional designation continuing education credit.

2007 Course Catalog New Courses for 2007

Mutual Fund Distribution Practices and Costs
Mutual Fund Distribution Practices and Costs examines the findings of the Phase Two Report of the Mutual Fund Task Force addressing mutual fund distribution arrangements and revenue sharing. The course considers the mutual fund distribution practices and costs highlighted in the report and looks at the recommended cost disclosures and the potential conflicts that may affect a broker-dealer’s mutual fund recommendation. May qualify for insurance or professional designation continuing education credit.

Advanced Variable Annuities
Advanced Variable Annuities looks at the required suitability, customer disclosure, and supervisory review incident to the sale of variable annuities. It also examines the deliberations of the Annuity Roundtable in its efforts to establish regulatory standards in the areas of supervision, suitability, advertising, sales force training, and customer disclosure applicable to declared-rate, equity indexed, and variable annuities. May qualify for insurance or professional designation continuing education credit.

Pension Protection Act of 2006
Pension Protection Act of 2006 examines the principal provisions of the Pension Protection Act of 2006 and considers the various rule changes affecting defined benefit and defined contribution plans. Among the rule changes discussed are the Act’s changes to defined benefit minimum funding standards, contribution timing, PBGC premium, reporting and disclosure requirements, and in-service distributions. May qualify for insurance or professional designation continuing education credit.

Supervisory Controls
Supervisory Controls addresses the supervisory control requirements imposed on member firms under NASD Rules 3012 and 3013. The course discusses the background leading to the creation of these rules, including the Gruttadauria case, and the relationship of the new Rules to NASD Rule 3010. It examines the mandates of the new Rules, including the requirements for an annual report to management, the supervisory review of producing managers’ customer account activity, the designation of a chief compliance officer and the annual CEO certification to the NASD.

NASD Advertising Regulations
NASD Advertising Regulations examines the NASD rules concerning broker-dealers’ advertising. It discusses the difference between advertisements and sales literature and the advertisement filing requirements for various products under NASD Conduct Rules 2210(c) and 2220(c). Product advertising discussed includes options communications, CMO advertising, investment company advertising, securities futures advertising, and public direct participation program advertising.

New Courses for 2007

Customer Data Security and Business Continuity Planning
Customer Data Security examines the problems of customer data and identity theft and considers possible solutions. It looks at common-sense steps that may be taken by broker-dealer personnel to avoid the theft of customer information. In addition, the course discusses various technology-related methods that may be used to enhance the security of customer information, including firewalls, intrusion-detection systems, Secure Socket Layer (SSL)/Transport Layer Security (TLS), and cryptography. The course concludes with a discussion of business continuity planning required under NASD Rules 3510 and 3520.

Planning for Business Succession
Planning for Business Succession considers the options available to business owners, heirs, and co-owners for the disposition of a business organization upon the owner’s death, disability or withdrawal. It discusses traditional methods of establishing business value and transferring ownership to successors. The course examines the practical needs of the business and the various impediments—legal and otherwise—to its continuation. The uses of various insurance products as tools to facilitate business succession plans are discussed. May qualify for insurance or professional designation continuing education credit.

Financial Planning
Financial Planning examines the overall financial planning process and considers the requirement for, as well as the principles and methods of, budgeting, education planning, investment planning, insurance planning, tax planning and retirement planning. May qualify for insurance or professional designation continuing education credit.

Real Estate Investment Trusts
Real Estate Investment Trusts (REITs) examines the risks and rewards of REIT investment. Equity REITs, Mortgage REITs, and Hybrid REITs are considered. The course discusses the advantages and disadvantages of REIT investment, the tax implications, and the fees and other acquisition costs that may be incurred. The course concludes with a discussion of the factors investors should consider when selecting a REIT in which to invest.

Private Securities Transactions
Private Securities Transactions provides a comprehensive treatment of the requirements of NASD Rule 3040 (Private Securities Transactions of an Associated Person). The course considers the range of transactions that meet the definition of a private securities transaction, the requirements imposed on an associated person wishing to engage in such a transaction, and the supervisory responsibility of the broker-dealer with whom the associated person is employed.

2007 Course Catalog New Courses for 2007

Hedge Fund Concepts and Suitability
Hedge Fund Concepts and Suitability examines the investment strategies and techniques employed by hedge fund managers in seeking absolute positive investment performance and the impact of such strategies and techniques on suitability. The course looks at hedge fund investment methods such as short selling, arbitrage, hedging, leveraging, position concentration, and investing in distressed companies, derivatives, international markets and privately-issued securities. The course concludes with a discussion of the general lack of investor protections that normally apply to registered investment products with respect to minimum liquidity, diversification, the ability to redeem, conflicts of interest, pricing, information disclosure, and leverage.

Effective Communication Skills for Financial Advisers
Effective Communication Skills for Financial Advisers discusses basic communication principles and the goals and skills needed for effective client interviewing, counseling and advising. It examines the appropriate structure for counselor communication, the need to build client rapport, and the common areas of client resistance. The course concludes by considering the meaning of various non-verbal client behaviors that may impede the investment adviser’s efforts to appropriately counsel clients. May qualify for insurance or professional designation continuing education credit.

Income Tax Planning for Financial Advisers
Income Tax Planning for Financial Advisers explains the fundamental tax planning concepts of income/ deduction shifting, income deferral, and deduction acceleration. It considers the rules concerning passive losses, tax-exempt transactions and non-recognition transactions. The course concludes with a comparison of income subject to taxation at ordinary income rates and income taxed as capital gain or qualified dividend. May qualify for insurance or professional designation continuing education credit.

Providing Investment Advice to Plan Participants
Providing Investment Advice to Plan Participants discusses the limits of the prohibited transaction exemption for provision of investment advice under the Pension Protection Act of 2006. It explains the rules under which investment advice may be provided to plan participants and beneficiaries pursuant to the exemption and considers the parameters of an “eligible investment advice arrangement,” the required customer disclosures, and records maintenance. May qualify for insurance or professional designation continuing education credit.

Firm Element and Insurance
I. II. III. IV. V. VI. Banking General Institutional Insurance & Financial Planning Investment Advisor Securities 1 5 15 25 51 85

Notes

I. Banking
Availability of Funds and Collection of Checks: A Guide to Regulation “CC” [102]
This course highlights requirements of Regulation CC that have caused compliance concerns and discusses how to provide a policy disclosure that accurately reflects the practices followed by your institution.

Check 21: Customer Service and Teller Personnel Training [82A]
This course provides the customer service representative with an overview of the Check 21 Act, including economic considerations, regulatory and legislative environments and consumer protection (including warranties and indemnities relating to Check 21 requirements).

Check 21: Operations Personnel Training [82]
This course describes the background, purpose, legal responsibilities and requirements imposed on banks by the Check Clearing for the 21st Century Act (also known as Check 21).

Collection of Checks and Funds Transfers: A Guide to Regulation “J” [101]
This course is a discussion of Regulation J, which provides the legal framework for depository institutions to collect checks and other items and to settle balances through the Federal Reserve System.

Electronic Fund Transfers: A Guide to Regulation “E” [99]
This course discusses Regulation E and the basic rights, liabilities and responsibilities of customers who use electronic fund transfer services and of banks that offer these services.

Home Mortgage Disclosure: A Guide to Regulation “C” [104]
This course covers the authority, purpose and scope of Regulation C, defines the key terms used in the regulation and specifies the types of institutions exempt from compliance with the rule.

Initial Public Offerings [eLIIPO]
This course provides an in-depth understanding of initial public offerings (IPO’s). In addition to demonstrating the advantages/disadvantages of IPO’s, this course details the entire process for preparing and completing an IPO, the legal and regulatory requirements involved in going public and the tax ramifications relating to IPO’s. May qualify for insurance or professional designation continuing education credit.

IPO Allocations, Best Practices in [72]
This course discusses existing regulations and emerging best practices for allocating initial public offerings to clients. A thumbnail sketch of recent regulatory initiatives designed to ensure that firms allocate potentially lucrative allocations fairly is included. Prohibitions on practices, such as spinning, are also discussed.

1

2007 Course Catalog I. Banking

New and Secondary Offerings [eLINSO]
This course covers SEC registration and prospectus requirements for public offerings. It covers the SIPC, protection it provides, penny stock rules, transactions which are exempt from disclosure rules and the required disclosures to customers. Penny stock risks and important points, such as the spread, the number of dealers in the stock and issues related to IPOs, are also covered.

OFAC [80]
This course is an introduction to the Office of Foreign Asset Control compliance. It defines OFAC’s purpose, outlining the OFAC regulations, procedures and penalties for non-compliance.

Privacy Requirements for Financial Institutions [eLIPRFI]
This course covers the privacy requirements and procedures for financial institutions established by the Gramm-Leach-Bliley (GLB) Act. The course reviews requirements relating to the form and content of a privacy notice, permitted disclosures, a customer’s right to opt out and privacy violations and penalties. May qualify for insurance or professional designation continuing education credit.

Private Placements [78]
This course is designed to identify the role of private placements in raising capital for business growth. It explains the various exceptions to registration under the 1933 Act that allow for private placements and discusses the private placement process.

Protecting Consumer Privacy: A Guide to Regulation “P” [100]
This course discusses Regulation P, which requires banks to disclose to certain individuals the extent to which it shares private personal information. Regulation P also allows certain individuals to prevent banks from disclosing private personal information to most nonaffiliated third parties by “opting out” of the required disclosure.

Regulation B [88]
This course will educate the learner on the impact of Regulation B, in which the SEC will further implement some of the provisions of the Gramm-Leach-Bliley Act that delineate the securities activity banks may engage in without registering as brokers. Regulation B creates a number of new exemptions for particular bank activities and broadens already existing exemptions available to banks, savings associations and savings banks that effect transactions in securities.

2

I. Banking

Truth in Lending: A Guide to Regulation “Z” [98]
This course focuses on Regulation Z as it applies to open-end credit transactions such as credit and charge cards and home equity loans.

Truth in Savings: A Guide to Regulation “DD” [103]
This course discusses the requirements placed on depository institutions by Regulation DD. These requirements include providing disclosures about deposit accounts so that consumers can make meaningful comparisons among institutions. Annual percentage yield is discussed, as are general disclosure requirements, periodic statements, interest payments, advertising and the retention of records.

3

Notes

4

II. General
Basic Background for Needs Selling [eLIBN]
This course is an introduction to the needs selling concept to the new agent. It explains property ownership, its disposition and the types of problems associated with different ownership arrangements, use of wills and trusts, Social Security and employee benefits. Each of the lessons contain a section where specific knowledge is taught, which can be used to disturb prospects during an approach talk, thereby convincing them to review their present situations. A higher percentage of appointments for data gathering sessions is the goal. May qualify for insurance or professional designation continuing education credit.

Business Conduct [eLIBC]
This course describes accepted and prohibited conduct in specific areas of registered representative activities. It begins with the rules pertaining to private securities transactions, then covers outside business activities, compensation and loans to and from customers. Sections include conflicts of interest, potentially illegal situations, currency transactions and related reporting requirements.

Business Conduct for Supervisors [eLIBCS]
This course alerts supervisors to the increased necessity of supervision in the area of business conduct. Part I reviews the supervisory structure, including NASD requirements and penalties, the need to recognize red flags and the need for heightened supervision of certain personnel. Part II reviews the principal types of misconduct and such violations as trading ahead, free riding and coordination.

Business Continuity Plans [05Mini_BusCon]
This course will help you understand the background of the Business Continuity Plan (BCP) requirement; know what functions must be covered by the BCP; and know the disclosure requirements applicable to the BCP. As a result of the 9/11 attacks on the World Trade Center, the SEC requires every broker-dealer to have a Business Continuity Plan that establishes procedures for responding to emergencies or disruptions in business.

Business Succession Plans [611]
This course discusses the role that buying or selling a business has in business succession planning and the variety of reasons for succession planning in advance of the time it is critically needed. It reviews warranties, buyouts, tax relief, financing, training successors and preparing employees for a change in leadership. The course includes topics such as selling the business to a competitor versus selling to employees and summarizes various types of business succession plans. May qualify for insurance or professional designation continuing education credit.

Business Valuation [eLIBV]
This course details the necessity of establishing the value of a business for its continuation or disposition. It also clarifies the various methods used in formulating a true indicator of what the business is actually worth. May qualify for insurance or professional designation continuing education credit.

5

2007 Course Catalog II. General

Buy/Sell Agreements [eLIBSA]
This course explains the mechanics and funding of buy/sell agreements, cross purchase agreements, entity agreements and Section 302 and 303 stock redemption agreements. Various funding methods, the use of life insurance as the funding vehicle of choice and strategies on selling in the business market are included. May qualify for insurance or professional designation continuing education credit.

CFP Ethics [20CFP]
This course explains the ethical framework of the CFP Board including the Code of Ethics and Professional Responsibility and the Financial Planning Practice Standards. The course reviews terminology used by the CFP Board, the disciplinary process for misconduct, investigation process, inquiry panel, hearing panel, the Board of Professional Review and the Board of Appeals. Eligible for CFP Ethics credit only.

Constructing Portfolios [200]
This course reviews the construction of portfolios beginning with the subjects of risk-free rate, risk premium and measuring risk. Included are diversification and risk, the efficient frontier and the capital asset pricing model. The student will review efficient markets and understand the importance of suitability determinations regarding equity securities.

Corporate Structure and Buy/Sell Agreements, An Overview of [eLICSB]
This course discusses each form of a business organization and how each is affected by retirement, disability and death of a business owner. Included is an introduction to buy/sell agreements and how these agreements are funded. May qualify for insurance or professional designation continuing education credit.

Customer Communications [31]
This course discusses restrictions on Internet communications, email, fax, the use of cold call sales and “do-not-call” list requirements. It reviews rules and requirements governing advertising and sales literature and the improper solicitation techniques that are misleading. Suitability concerns are also addressed. May qualify for insurance or professional designation continuing education credit.

6

II. General

Customer Communications III [31B]
This course assists registered representatives in carrying out their obligations regarding communications with customers. The rules relating to advertising, sales literature and correspondence are reviewed, including NASD Rule 2210 and Rule 2211—“Institutional Sales Material and Correspondence.” The filing requirements for television and video advertisements set forth in Rule 2210 are addressed. May qualify for insurance or professional designation continuing education credit.

Customer Documentation Requirements, Third Edition [42_3]
This course is a review of the various types of documentation required to be obtained for a wide variety of brokerage accounts and products and emphasizes various rationales for ensuring that full documentation is obtained for the firm’s books and records. May qualify for insurance or professional designation continuing education credit.

Deferred Compensation Plans [613]
This course reviews the cause, level and risk of disability, as well as the large percentage of individuals who suffer an occupational or non-occupational disability at least once in their life. May qualify for insurance or professional designation continuing education credit.

Disaster Planning [eLIDP]
This course focuses on risk management and business continuity planning with respect to natural disasters, act of workplace violence or an act of terrorism. The importance of creating Crises Management and Response Teams and a written workplace violence plan is detailed. Various disaster insurance coverage is explained. May qualify for insurance or professional designation continuing education credit.

Diversification [70]
This course examines diversification risk and its implications and provides explanations of the different layers of diversification. It also covers products, a vehicle utilized in diversification strategy and explains factors involved in selecting them. May qualify for insurance or professional designation continuing education credit.

7

2007 Course Catalog II. General

Do Not Call Registry Guidelines [84]
This course is dedicated to delineating what is and is not acceptable in the telemarketing and sales arenas.

Economic Growth and Tax Relief Reconciliation Act of 2001, The [eliTRR]
This course explains the main provisions in the monumental Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001 as amended by the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) of 2003. It focuses on the critical changes involving income, estate and gift tax, retirement planning, the implications for individuals and the opportunities and pitfalls facing financial service professionals over the next decade. May qualify for insurance or professional designation continuing education credit.

Effective Supervision for Investment Co & Variable Contracts Principals - Series 26 [eLIESI]
This course covers establishing and maintaining supervisory systems at member firms, as required under NASD Conduct Rule 3010. The course, an overview rather than a detailed examination, begins by discussing general guidelines for supervision, elements of systems, specific areas of supervision, prohibited conduct, continuing education, handling and reporting customer complaints.

Electronic Communications [73]
This course provides a complete guide to all forms of electronic communication. SEC and SRO guidance on the proper use of electronic communications, including NASD’s Notice to Members regarding instant messaging. The application of the rules for advertising, sales literature and correspondence, including the new amendments to NASD Rule 2210, web sites, chat rooms, message boards and e-mail are covered. Content rules, rules for electronic delivery of documents, applicable SEC books and records rules are discussed. May qualify for insurance or professional designation continuing education credit.

Electronic Communications [eLIEC]
This course reviews NASD conduct rules, which affect a registered representative’s use of electronic communications. There is a discussion about what is permitted, which forms of electronic communication need approval from NASD and examples of regulatory concerns.

Electronic Communications for Supervisors [eLIECS]
This course reviews NASD conduct rules, which affect a registered representative’s use of electronic communications. There is a discussion about what is permitted, which forms of electronic communication need approval from NASD and examples of regulatory concerns. The Supervisor’s course includes what the supervisor’s role is in overseeing their firm’s compliance with NASD rules and regulations, the requirements of suitability with respect to electronic communications that are deemed recommendations and the supervisory requirements. May qualify for insurance or professional designation continuing education credit.

8

II. General

Employee Benefit Plans [608]
This course is a study of the laws that impact employee benefits and how plans are affected by taxes. The course will study legislative guidelines for employers. The student will study two main classes of employer-provided retirement plans and learn about long-term care, COBRA, employee benefits in a family business, employee benefit consulting and unemployment benefits. May qualify for insurance or professional designation continuing education credit.

Code of Conduct-Daily Ethical Dilemmas [20I]
This course provides the student with a Company Code of Ethics and eight different scenarios where an ethical decision must be made. The decisions that the student is faced with include per diem expense reports, record retention-including electronic communications, disclosure issues, insider trading decisions, discrimination in the workplace, record keeping, combining business and friendship and violation ramifications.

Ethics for the Futures Industry [800]
This course covers ethical standards and industry rules applicable to obtaining and assessing the financial and investment experience of customers; making disclosure of material information in dealings with customers; avoiding conflicts of interest and, when they cannot be avoided, making appropriate disclosure to customers and obtaining requisite authorization to continue handling the customer’s business (if permitted under the Commodity Exchange Act of CFTC rules); and establishing effective supervisory systems and internal controls.

Ethics II, Second Edition [20A_2]
This course addresses duty of loyalty owed by the broker to the firm, broker’s clients and the marketplace. The ‘Prudent Man Rule’, the Rule’s current application, regulatory requirements, firm requirements and their application to ethical standards is examined. May qualify for insurance or professional designation continuing education credit.

Ethics III, Case Studies in Ethics and Suitability [20B]
This course presents ethical dilemmas and how to avoid them via case studies. Geared toward those engaged in the sales of financial products and services to retail customers. May qualify for insurance or professional designation continuing education credit.

Ethics VIII: Truth and Accuracy in Documentation [20H]
This course discusses, in a case study format, NASD decisions that address violations involving fraud and documentation, and failure to provide information and forgery. Also discussed is NASD Rule 2110, Standards of Commercial Honor and Principles of Trade. The importance of maintaining lawful conduct and high standards of ethical conduct is emphasized throughout the course.

9

2007 Course Catalog II. General

Executive Bonus Plans [614]
This course discusses the responsibility the employer has in selecting benefits that will attract and retain executives for his/her company. A review of options employees have from which to choose, different aspects of business succession planning and insurable interest, the Internal Revenue Code 162 Bonus Plan, various financial tools, salary continuation plans and executive retirement plans. The course will cover how to define a key employee and the benefit of key employee insurance. May qualify for insurance or professional designation continuing education credit.

Financial Futures [13]
This course reviews the regulation of these instruments by the Commodity Futures Trading Commission (CFTC), as well as the mechanics of financial futures contracts, their use as hedging devices and the role they play in price discovery. Trading strategies are discussed and the role of clearinghouses in the futures industry is described. The course reviews the importance of margin requirements and considers both CFTC disclosure and other regulatory requirements. Special risks presented by stock index futures contracts are also reviewed.

Forms of Business Ownership [eLIFBO]
This course introduces the four most commonly used business entities, how these forms of businesses are operated and problems associated with the disposition of ownership interests in the event of retirement, disability, or death. May qualify for insurance or professional designation continuing education credit.

Handling Customer Accounts [eLIHCA]
This course covers issues that arise in the handling of customer accounts, including fraudulent practices and misuses of customer funds. It reviews prohibited practices, third-party orders and instructions, customer account transfers, gifts and gratuities, the sharing of profits and losses and the prudent man rule. A final section considers barriers and the prevention of the spread of inside information.

Handling Customer Complaints [eLIHCC]
This course reviews the regulatory background for the handling of customer complaints both at firms and by NASD. It includes a discussion of SIA Best Practices, steps for handling complaints, information on NASD procedures and hearings, reporting requirements and a review of the ten disclosure events, rules for quarterly statistical filings and a discussion of Form U-4 disclosures. The course reviews common customer complaints, then lays out steps that can be taken to prevent complaints.

Harassment and Discrimination [94]
This course discusses the various forms of discrimination and harassment that may occur in the workplace and the potential consequences of engaging in such behavior. Guidelines for avoiding charges of harassment or discrimination, two major types of sexual harassment in the workplace; the penalties and sanctions that exist for sexual harassment; and the steps that can be taken to minimize the risk of sexual harassment are examined.

10

II. General

Information Security Awareness [85]
This course covers topics such as password construction and management, Internet usage, telephone fraud, physical security/building access, incident reporting, mobile and laptop security, home PC security, back-up regulation and compliance issues. There is a section dedicated to email usage, malicious code that includes viruses, Trojans, worms and identity theft. May quailfy for insurance or professional designation continuing education credit.

Jobs and Growth Tax Relief Reconciliation Act of 2003, The [eLIJGTR]
This course covers the key provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA), designed to stimulate the economy with resulting tax savings for both individuals and businesses and how it creates tax planning opportunities for investors. Although JGTRRA accelerates several tax breaks originally included in the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), certain provisions are subject to phase-outs and sunsets. May qualify for insurance or professional designation continuing education credit.

Key Employee Insurance [615]
This course studies the factors in defining a key employee. The course will study different aspects of business continuation planning and insurable interest as it relates to the life insurance policies used in key employee insurance plans and several ways in which the employer and employee can set up a key employee insurance plan. This course compares other business life insurance arrangements with the Split-Dollar Arrangement. May qualify for insurance or professional designation continuing education credit.

Market Conduct for Financial Services Professionals [36]
This course includes historical and current market conduct issues, as well as industry regulations governing sales of life insurance products and securities products. Also covered are the rules and issues involved in “selling away” from the securities firm. May qualify for insurance or professional designation continuing education credit.

Non-Qualified Deferred Compensation [eLIDC]
This course provides a basic understanding of deferred compensation plans, including benefits and advantages to employees and employers, funding, the role of insurance, taxation, plan design and deferred compensation markets. May qualify for insurance or professional designation continuing education credit.

Non-Registered Insurance Products, Suitability of [45]
The provisions of the GLBA require adoption of suitability rules by most jurisdictions. This is important in helping registered representatives and licensed agents better understand their responsibilities in selling non-registered insurance products. May qualify for insurance or professional designation continuing education credit.

11

2007 Course Catalog II. General

Sales Training [eLIST]
This course is a comprehensive training guide for a successful sales career from prospecting to “closing the deal.” This course shows how to build relationships, establish trust with clients while developing a professional reputation, describes how questioning skills can provide valuable data and how to assemble this information in an effective presentation. Additionally, the course demonstrates the skills that will lead to a successful closing, including handling specific customer attitudes during the process.

Sarbanes-Oxley Act, The Impact of the [71]
This course includes reforms in corporate governance and regulation of accounting firms, avoidance and disclosure of conflicts of interest by corporate insiders, broker-dealers, research analysts, responsibilities and limitations for corporate officers/directors, duties for attorneys, protection for whistleblowers and disclosure and certification obligations. May qualify for insurance or professional designation continuing education credit.

Sexual Discrimination and Harassment [33_05]
This course discusses Title VII and its implications and provides examples of behavior and attitudes that can lead to sexual discrimination and harassment. It also outlines useful guidelines to handle, and even avoid, such problems.

Sexual Discrimination and Harassment, CA version [33_CA]
This course meets the California guidelines for sexual discrimination and harassment training for supervisory personnel in firms with over 50 employees.

Social Security [eLISS]
This course reviews Social Security taxes, eligibility and benefits. The calculation of PIA, AIME and Social Security benefits is demonstrated and the inadequacies of Social Security are examined. The Medicare program is also discussed. Course includes disturbing areas that could be presented to prospects to help them determine their supplemental retirement needs. May qualify for insurance or professional designation continuing education credit.

Split-Dollar Insurance [610]
This course discusses the features, benefits, advantages and types of Split-Dollar Insurance, basics of the Split-Dollar Arrangement, forms, types and uses of taxation of the Split-Dollar Business Arrangements. May qualify for insurance or professional designation continuing education credit.

Supervision II, Remote/Independent Contractor [22AIC]
This course discusses “real life” issues confronting supervisors, training them to spot problems and pitfalls to avoid customer litigation and regulatory inquiries. Covers the hiring process, day-to-day supervision, long-term supervision, broker and customer terminations and effective utilization of support staff. The Remote Office/Independent Contractors version addresses the unique issues of supervising remote offices and independent contractors.

12

II. General

Supervision II, Retail [22AR]
This course discusses “real life” issues confronting supervisors, training them to spot problems and pitfalls to avoid customer litigation and regulatory inquiries. Covers the hiring process, day-to-day supervision, long-term supervision, broker and customer terminations and effective utilization of support staff.

Technical Background for Needs Selling, Advanced [eLIADN]
This course details the disposition of personal and business property and the consequences of improper planning to a family, business or estate. The Advanced Technical Background for Needs Selling tutorial is most appropriate for the agent already familiar with a needs selling approach. May qualify for insurance or professional designation continuing education credit.

Workers’ Compensation [eLIWC]
This course discusses the history of the workers’ compensation system. Different funding options and premiums are determined. The course explains the structure of a typical workers’ compensation policy. There is also a review of exclusions to workers’ compensation coverage that apply when coverage is provided under other insurance policies or is provided through selfinsurance. The exclusion of farm and domestic workers is discussed. May qualify for insurance or professional designation continuing education credit.

An Ethical Paradox-When taking Second Place Means You Win (20K)
This course defines ethics, and how competition in the workplace can foster unethical behavior. The course also covers recent disciplinary actions by the NASD concerning suitability issues, deceptive conduct, sales contests and the dissemination of misleading information.

Insurance Ethics: Walking a Sometimes Invisible Line (117)
This course examines ethics and the role it plays in the insurance industry. The course discusses ethics as it applies to brokers, career agents and independent agents. May qualify for insurance or professional designation continuing education credit.

13

Notes

14

III. Institutional
401(k) Plans and SIMPLEs [eLI401K]
This course focuses on two of the most popular types of tax-qualified retirement plans: the 401(k) and the SIMPLE (Savings Incentive Match Plan for Employees), the benefits, legal requirements, design and operation of each type of plan. It also explores various types of investments, plan investment criteria and selection for 401(k) s and SIMPLEs. May qualify for insurance or professional designation continuing education credit.

412(i) Plans [eLI412]
This course presents how defined benefit plans offer the triple advantages of security, larger benefits to the company principals and simple, low-cost administration. The study materials explain how contributions to 412(i) plans are made, the advantages/disadvantages and the rules for plan qualification and distributions. May qualify for insurance or professional designation continuing education credit.

Anti-Money Laundering Compliance, Advanced Concepts in [eLIACA]
This course covers regulations issued by NASD, the obligations of financial institutions under the USA PATRIOT Act and the “red flags” that require due diligence. It expands on the fundamental anti-money laundering concepts explained in our introductory course. May qualify for insurance or professional designation continuing education credit.

Asset Allocation, Principles of [46]
This course provides an overview of the basics in account management and client services, fundamental principles of asset allocation and risk assessment, tools that are critical for salespersons to master in order to properly service their client base and help them manage increasingly volatile markets. May qualify for insurance or professional designation continuing education credit.

Constructing Portfolios [200]
This course reviews the construction of portfolios beginning with the subjects of risk-free rate, risk premium and measuring risk. Included are diversification and risk, the efficient frontier and the capital asset pricing model. The student will review efficient markets and understand the importance of suitability determinations regarding equity securities.

15

2007 Course Catalog III. Institutional

Corporate Debt [2]
This course teaches the nature of corporate bonds, their underwriting requirements and the application of the Trust Indenture Act of 1939. Mechanics of bond trading, redeemable, convertible and zero coupon bonds are examined. Investment objectives of corporate bonds and the suitability issues, risk factors and regulatory requirements are reviewed. May qualify for insurance or professional designation continuing education credit.

Custody of Funds [89]
This course focuses on the impact of the amendments to the custody rule under the Investment Advisers Act of 1940. Included are custodial practices and the requirement for advisers that have custody of client funds or securities to maintain those assets with broker-dealers, banks or other qualified custodians. The course also reviews the definition of ”custody” and illustrates circumstances under which an adviser has custody of client funds or securities.

Customer Communications III [31B]
This course assists registered representatives in carrying out their obligations with respect to communications with customers: the content of communications, when communications must be pre-approved by a principal and what communications must be retained are some of the issues addressed. Among other issues, the filing requirements for television and video advertisements set forth in Rule 2210 are addressed. May qualify for insurance or professional designation continuing education credit.

Diversification [70]
This course examines risk and its implications and provides explanations of the different layers of diversification. It also covers products and a vehicle utilized in diversification strategy. Included in this course are insurance products and implications for client relationships. May qualify for insurance or professional designation continuing education credit.

Economic Growth and Tax Relief Reconciliation Act of 2001, The [eLITRR]
This course explains the main provisions in the monumental Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001 as amended by the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) of 2003. It focuses on the critical changes involving income, estate and gift tax, retirement planning, the implications for individuals, and the opportunities and pitfalls facing financial service professionals over the next decade. May qualify for insurance or professional designation continuing education credit.

Electronic Communications [73]
This course provides a complete guide to all forms of electronic communication. SEC and SRO guidance on the proper use of electronic communications, including NASD’s Notice to Members regarding instant messaging. The application of the rules for advertising, sales literature and correspondence, including the amendments to NASD Rule 2210, web sites, chat rooms, message boards and e-mail are covered. Content rules, rules for electronic delivery of documents, applicable SEC books and records rules are discussed. May qualify for insurance or professional designation continuing education credit.

16

III. Institutional

Electronic Communications, Institutional Edition [73INST]
This course provides a complete guide to all forms of electronic communication. SEC and SRO guidance on the proper use of electronic communications, including NASD’s recent Notice to Members regarding instant messaging, is included. The application of the rules for advertising, sales literature and correspondence, including the new amendments to NASD Rule 2210, web sites, chat rooms, message boards and e-mail are covered. Content rules, rules for electronic delivery of documents, applicable SEC books and records rules are discussed.

Emerging Markets [21_2]
This course is an overview of emerging markets beginning with a definition and moving into special risk factors, investment objectives, suitability concerns for emerging market equities, emerging market debt, emerging market funds and American Depository Receipts. May qualify for insurance or professional designation continuing education credit.

Ethics [20]
This course describes the role of regulation and its guidance of ethical standards in the industry, regulatory structure and role of self-regulation in establishing ethical standards and regulatory standards. General ethical and legal considerations applicable to the handling of customer accounts, suitability information, dealing with unsophisticated customers, making disclosures to customers and avoiding abuses are reviewed. May qualify for insurance or professional designation continuing education credit.

Ethics V, Servicing Institutional Clients [20D]
This course teaches registered representatives to appropriately resolve common problems that might arise in dealing with institutional clients and to recognize and avoid situations that can pose both an economic risk and a risk to the firm’s reputation.

Ethics VI, Conflicts of Interest [20F]
This course discusses various conflicts of interest and other timely ethical issues facing personnel in the securities industry. Explores timely ethical issues in a case study format. May qualify for insurance or professional designation continuing education credit.

17

2007 Course Catalog III. Institutional

Ethics VII, Professional Responsibility in the Securities Industry [20G]
This course discusses the definition of “professional”, the knowledge and skills required of a professional, professional licenses and professional responsibility. Also reviewed is the responsibility to maintain registration, know your customer and suitability issues, trade practice and other prohibited activity.

Ethics VIII: Truth and Accuracy in Documentation [20H]
This course discusses NASD decisions that address violations involving fraud and documentation, including falsification of information, failure to provide information and forgery. Also discussed is NASD Rule 2110, Standards of Commercial Honor and Principles of Trade.

Fee Based Accounts [90]
This course addresses fee-based accounts and includes topics such as: distinctions between a fee-based brokerage account and a fee-based advisory account; the considerations that representatives must discuss with their clients in connection with their decision regarding fee-based accounts; disclosures; regulatory restrictions; and issues the SEC and NASD have identified regarding fee-based accounts.

Fee-Based Accounts: Compensation [05Mini_FBC]
This course will explain when broker-dealers offering fee-based accounts are not subject to the Investment Advisers act of 1940; describe the SEC disclosure requirements for feebased accounts exempt from the Advisers Act; discuss NASD rules regarding the suitability of fee-based accounts for customers and explain the disclosure, monitoring and follow-up requirements of the NYSE’s new Rule 405A governing fee-based accounts.

Financial Futures [13]
This course reviews the regulation of these instruments by the Commodity Futures Trading Commission (CFTC), as well as the mechanics of financial futures contracts, their use as hedging devices and the role they play in price discovery. Trading strategies are discussed and the role of clearinghouses in the futures industry is described. The course reviews the importance of margin requirements and considers both CFTC disclosure and other regulatory requirements. Special risks presented by stock index futures contracts are also reviewed.

Fixed Income, Second Edition [4_2]
This course is a review of the growth of the fixed income market and the wide variety of instruments now available. Regulatory requirements are addressed and suitability concerns are considered. May qualify for insurance or professional designation continuing education credit.

18

III. Institutional

Hedge Funds [6001]
This course provides an overview of hedge funds for registered representatives, including common characteristics, distinctions from registered investment companies, different types and investment strategies, the risk factors associated with hedge funds generally and with particular trading strategies employed by different types of funds. Reviews the due diligence, suitability and disclosure requirements applicable to the recommendation and sale of hedge funds and outlines the areas of regulatory concern and potential regulation.

Insider Trading, Second Edition [24_2]
This course is a review of the background and scope of SEC anti-fraud standards prohibiting insider trading. Included is a review of mail and wire fraud prohibitions and restrictions on shortswing profits by insiders of publicly-held companies. May qualify for insurance or professional designation continuing education credit.

Institutional and Proprietary Trading and Sales [27]
This course examines losses experienced by institutions and claims that their counter-parties misled them. The regulatory responses to these claims and the role supervision plays in institutional trading programs are also reviewed. May qualify for insurance or professional designation continuing education credit.

Investment Adviser Electronic Communications [7301]
This course reviews the obligations of investment advisers regarding the creation, processing and retention of electronic communications. Among the topics are: categories of electronic communications that investment advisers must preserve; guidelines for the creation and processing by investment advisers of electronic correspondence; and compliance practices investment advisers commonly adopt in response to applicable regulations.

IPO Allocations, Best Practices in [72]
This course discusses existing regulations and emerging best practices for allocating initial public offerings to clients. A thumbnail sketch of regulatory initiatives designed to ensure that firms allocate potentially lucrative allocations fairly is included. Prohibitions on practices such as spinning are also discussed.

Margin Accounts [05Mini_Margin]
This course will review and reinforce some of the basic rules and concepts concerning the use of margin and why investors use margin. The student will understand minimum, initial and maintenance margin and the different types of customer accounts used in margin trading. The fundamental requirements of Regulation T and SRO margin rules are also discussed.

Money Laundering: The Institutional Broker-Dealer Perspective, Forth Edition [35INST_4]
This course provides tips to salespersons and others servicing institutional accounts on how to spot actual money laundering behavior and pointers for preventing potential money launderers from taking advantage of the firm. Items useful for compliance, monitoring and education programs are highlighted. 19

2007 Course Catalog III. Institutional

Mutual Funds [05Mini_MF]
This course discusses the popularity of mutual funds and the media attention given to mutual fund sales practices, the particular practices for the sale of mutual funds and those practices that will become industry standards.

NASD Issues and Concerns Regarding Bonds and Bond Funds [76]
This course focuses solely on various bond types that include: fixed rate debt securities, taxable and non-taxable bonds, corporate, municipal and asset-backed bonds and bond funds. Also discusses NASD’s Notice to Members reminding firms of their obligation to adequately train and supervise employees who sell bonds.

New and Secondary Offerings [05Mini_NSO]
This course is designed to give a brief overview of timely issues in the area of New and Secondary Offerings. After reading this course, the student should have a better understanding of NASD Rule 2790, which replaces the Free-Riding and Withholding Interpretation and NASD amendments to Rule 2710.

OFAC [80]
This course is an introduction to the Office of Foreign Asset Control Compliance. It defines OFAC’s purpose, outlining the OFAC regulations, procedures and penalties for non-compliance.

Options [6]
This course examines the mechanics of trading of stock options on the exchanges and the trading characteristics of exchange-traded options. Functions of the Option Clearing Corporation are explained. Investor objectives and regulatory considerations for stock options and abuses are considered. May qualify for insurance or professional designation continuing education credit.

Pension Basics [eLIPB]
This course covers the basic concepts underlying pension plans and explains basic requirements and regulations governing pension plans, the types of plans available and plan funding. One lesson consists of case studies used to apply these concepts and requirements to differing needs and situations. May qualify for insurance or professional designation continuing education credit.

Privacy Requirements for Financial Institutions [eLIPRFI]
This course covers the privacy requirements and procedures for financial institutions established by the Gramm-Leach-Bliley (GLB) Act. The course reviews requirements relating to the form and content of a privacy notice, permitted disclosures, a customer’s right to opt out and privacy violations and penalties. May qualify for insurance or professional designation continuing education credit.

20

III. Institutional

Private Placements [78]
This course is designed to identify the role of private placements in raising capital for business growth, explains the various exceptions to registration under the 1933 Act that allow for private placements and discusses the private placement process.

Regulatory Focus: Research Analysts [05Mini_RA]
This course discusses rule changes brought about by the SEC, NASD and NYSE designed to lessen analysts’ conflicts and improve disclosure to investors. Also discussed is the focus on integrity and disclosure and their effects on research analysts and other activities at a brokerdealer.

Regulatory Focus: Bond Sales [05Mini_Bonds]
This course addresses the issues and concerns raised by NASD regarding bonds and bond funds. It discusses those issues identified by NASD in Notice to Members 04-30 as being areas that should be included in training for those who sell bonds and/or bond funds.

Research Analysts and Conflicts of Interest [6201]
This course covers permissible conduct of research analysts, as well as rules requiring certain disclosures in research reports and public appearances. The course will also look at some significant disciplinary matters concerning research and conflicts of interest with the investing public.

Research Analysts and Conflicts of Interest: Supervisory Concerns [6202]
This course covers, from a supervisory standpoint, permissible conduct on the part of research analysts, as well as rules requiring certain disclosures in research reports and public appearances. The course will also look at some significant disciplinary matters concerning research and conflicts of interest with the investing public.

Retirement Plans II, Second Edition [25_2]
This course is a discussion of the various types, designs and aspects of retirement plans focusing on the differences between non-qualified and qualified plans including profit sharing, money purchase, 401(k), SIMPLE and defined benefit plans and retirement plan design. The course includes IRS requirements for highly compensated employees, the ACP and ADP tests, top heavy plans and minimum coverage. Fiduciary responsibilities are defined and explained. Special focus is given to plan distributions. May qualify for insurance or professional designation continuing education credit.

21

2007 Course Catalog III. Institutional

Securities Regulatory Essentials for Financial Professionals [40G]
This triple course discusses suitability (types of risk and their application to various types of products); business conduct; and handling customer accounts.

Short Sales [05Mini_ShortSales]
This course will teach the student to explain the price tests for short sales; identify the negative effects of naked short selling and understand Regulation SHO’s requirement that securities must be “located”. The student will also be able to define “threshold” securities and the marking requirements for securities under Regulation SHO.

Suitability Concept, Series 6 Edition, Understanding the [39_S6]
This course addresses the suitability and risk issues inherent in a wide variety of investment products. The salient features of each product and their suitability profiles are covered. This course emphasizes the disclosure requirements for each product. May qualify for insurance or professional designation continuing education credit.

Supervision II, Institutional Version[22AI]
This course discusses “real life” issues confronting supervisors, training them to spot problems and pitfalls to avoid customer litigation and regulatory inquiries. Covers the hiring process, day-to-day supervision, long-term supervision, broker and customer terminations and effective utilization of support staff. The institutional version addresses some of the unique issues confronted by supervisors of sales and trading personnel on a daily and long-term basis.

Supervisor Update on Mutual Fund Sales Practices [2201]
This course discusses breakpoints, Mutual Fund Class B Shares, market timing, late trading, compensation issues, improved mutual fund disclosure and hedge funds.

Tax-Qualified Plans [eLITQP]
This course explains the benefits and requirements of tax-qualified plans, including the ERISA rules and regulations. In addition to corporate pension and profit-sharing plans, it discusses alternative forms of retirement plans such as traditional and Roth IRAs, Coverdell Education Savings Accounts (ESAs), SEPs and SIMPLE accounts, Keogh plans, tax-sheltered annuities and 401(k) plans. May qualify for insurance or professional designation continuing education credit.

22

III. Institutional

Hedge Funds: The Highlights [05Mini_HF]
As a result of scrutiny by the SEC, NASD and other regulators, members must be aware of their obligations when selling hedge funds. This course will improve your knowledge of the characteristics, risks and regulatory concerns associated with hedge funds.

U S Government Debt [3]
This course discusses government agencies issuing securities, the mechanics of trading in U.S. Government securities, risk factors associated with U.S. Government securities, suitability and other regulatory requirements. Some of the U.S. Government debt instruments discussed are T-bills, T-bonds, T-notes, repurchase agreements, zero coupon bonds, stripped securities and GNMAs. May qualify for insurance or professional designation continuing education credit.

Unit Investment Trusts [05Mini_UIT]
This course discusses the valuable role that Unit Investment Trusts (UITs) can play in an individual investor’s portfolio, while also pointing out the tax, redemption and other risks that often make UIT securities an unsuitable investment.

Unit Investment Trusts [11]
This course defines what constitutes a “unit investment trust” and examines the advantages to investors of these instruments, including diversification and professional management. The role of the sponsor of unit investment trusts is considered, as are the functions of the trustee. The course also reviews the characteristics of these instruments and describes their underwriting. Risks presented by unit investment trusts and the regulatory requirements relating to these instruments, including suitability, are discussed. May qualify for insurance or professional designation continuing education credit.

Wrap Accounts [17]
This course describes the services provided by a wrap account, including asset investment services, portfolio management and execution services. The advantages/disadvantages of wrap accounts are discussed, as are regulatory requirements such as the wrap account brochure. Suitability and other regulatory concerns for wrap accounts are considered. Mutual fund asset allocation programs are described, as well as risk factors associated with such accounts. May qualify for insurance or professional designation continuing education credit.

23

Notes

24

IV. Insurance & Financial Planning
401(k) Plans and SIMPLEs [eLI401K]
This course focuses on two of the most popular types of tax-qualified retirement plans: the 401(k) and the SIMPLE (Savings Incentive Match Plan for Employees). It explores various types of investments, plan investment criteria and selection for 401(k) s and SIMPLEs. May qualify for insurance or professional designation continuing education credit.

412(i) Plans [eLI412]
This course presents how defined benefit plans offer the triple advantages of security, larger benefits to the company principals and simple, low-cost administration. The study materials explain how contributions to 412(i) plans are made, the advantages/disadvantages and the rules for plan qualification and distributions. May qualify for insurance or professional designation continuing education credit.

529 Plans and Other College Savings Programs [53]
This courses focuses on the features of “529 Plans” also known as “Qualified Tuition Plans”. Covered are the legal requirements 529 plans must meet, some of the features commonly found in these plans and some of the major factors that must be taken into account in recommending 529 plans to customers. The student will also find overviews of some of the other programs available to help clients meet the costs of higher education. May qualify for insurance or professional designation continuing education credit.

Advanced 403(b) Plans [eLIA403]
This course explains tax advantages, eligible employers and participants, permitted investments, calculations of maximum contributions and deferrals, taxation of contributions, excess contributions and deferrals, distributions and special rules for church plans. May qualify for insurance or professional designation continuing education credit.

Agent’s Role and Responsibilities, An [eLIARR]
This course covers the role and responsibilities of a hypothetical agent. Topics include hiring, training, licensing, duties, compensation and client servicing.

Annuities [eLIANN]
This course covers annuity concepts, taxation of annuity products, product profiles and annuity sales applications. Appropriate for agents who are moving into the annuity market or who are already in the market and desire to increase their basic knowledge of the product. May qualify for insurance or professional designation continuing education credit.

Annuities, An Overview of [eLIOA]
This course provides an overview of annuities and explains how they differ from life insurance. Fixed, variable and equity-indexed annuities are discussed. The accumulation and payout phases, taxation, settlement options and the types of annuity contracts are reviewed. May qualify for insurance or professional designation continuing education credit.

25

2007 Course Catalog IV. Insurance & Financial Planning

Anti-Money Laundering for Insurance [79]
This course discusses the threat that money laundering poses to the integrity of the financial system and our country’s security, how life insurance companies must comply with the USA Patriot Act, the role of the various regulatory agencies that are responsible for anti-money laundering and describes the penalties and sanctions for non-compliance with AML laws and regulations. May qualify for insurance or professional designation continuing education credit.

Asset Allocation Strategies [eLIAAS]
This course provides an overview of asset allocation. There is a discussion on how to diversify a portfolio among the three asset categories and the five basic portfolios used in asset allocation. Case studies are included. May qualify for insurance or professional designation continuing education credit.

Asset Allocation, Principles of [46]
This course provides an overview of the basics in account management and client services, fundamental principles of asset allocation and risk assessment, tools that are critical for all salespersons to master in order to properly service their client base and help them manage increasingly volatile markets. May qualify for insurance or professional designation continuing education credit.

Basic Background for Needs Selling [eLIBN]
This course is an introduction to the needs selling concept to the new agent. It explains property ownership, its disposition and the types of problems associated with different ownership arrangements, use of wills and trusts, Social Security and employee benefits. Each of the lessons contain a section where specific knowledge is taught, which can be used to disturb prospects during an approach talk, thereby convincing them to review their present situations. A higher percentage of appointments for data gathering sessions is the goal. May qualify for insurance or professional designation continuing education credit.

Building a College Education Fund [eLIBCE]
This course reviews the various methods that may be used for college savings, provides a complete explanation of state-sponsored Section 529 Plans and demystifies the rules for obtaining financial aid. May qualify for insurance or professional designation continuing education credit.

Business Insurance [609]
This course addresses the general issues of financial business arrangements and the various types of business organizations (corporations, partnerships, sole proprietorship and limited liability companies), concepts involved with business insurance, ethics and consumer protection. Other topics include deferred compensation plans, executive bonus plans, splitdollar business plan, variations in the split-dollar plans and various elements including arrangements trust packing and versatility. May qualify for insurance or professional designation continuing education credit.

26

IV. Insurance & Financial Planning

Business Insurance, An Overview of [eLIBI]
This course covers business insurance concepts and includes detailed discussion of forms of business and buy/sell agreements, key executive insurance, split dollar plans, deferred compensation plans and qualified retirement plans. May qualify for insurance or professional designation continuing education credit.

Business Succession Plans [611]
This course discusses the role that buying or selling a business has in business succession planning and the variety of reasons for succession planning in advance of the time it is critically needed. It reviews warranties, buyouts, tax relief, financing, training successors and preparing employees for a change in leadership. The course includes topics such as selling the business to a competitor versus selling to employees and summarizing various types of business succession Plans. May qualify for insurance or professional designation continuing education credit.

California Annuity 2004 Training [77]
This course is designed to meet the regulatory training requirements on the sale of annuities as set forth by the State of California, Department of Insurance. It is designed to train licensed insurance agents on the topic of annuities and will refresh the agent’s knowledge of annuities, provides an historical development of annuity contracts, offers an introduction to types of annuities with particular attention on the various classifications of annuities. May qualify for insurance or professional designation continuing education credit.

California Long Term Care [eLICALTC]
This course explains the components of long term care insurance and how it works with the coverage provided by Medicare, Medicare Supplement (Medigap) policies and Medi-Cal (Medicaid) programs. The course reviews federal regulations and how they affect qualified longterm care insurance policies. The California Insurance Code provides the basis for the course content and most statistical references are state specific. May qualify for insurance or professional designation continuing education credit.

California Long Term Care [SSI5]
This course is designed to explain the components of long term care insurance and how it works with the coverage provided by Medicare, Medicare Supplement (Medigap) policies, and MediCal (Medicaid) programs. There is a review of federal regulations and how they affect qualified long-term care insurance policies. The California Insurance Code provides the basis for the course content and most statistical references are state specific. May qualify for insurance or professional designation continuing education credit.

Collateralized Mortgage Obligations [eLICMO]
This course discusses mortgage-backed securities and specifically examines collateralized mortgage obligations (CMOs). There is a focus on bonds that comprise the CMO, how payments made on the underlying mortgages are distributed, guarantees and risks involved in CMO investments and their tax treatment. May qualify for insurance or professional designation continuing education credit. 27

2007 Course Catalog IV. Insurance & Financial Planning

Commercial Property Insurance [eLICMP]
This course introduces commercial property insurance, placing it in context of the commercial package policy and outlines the details of commercial property insurance, different coverage forms, exclusions, conditions, causes of loss forms and endorsements. May qualify for insurance or professional designation continuing education credit.

Communications with the Public for Supervisors [eLICPS]
This course covers the supervision of communications with the public, beginning with a look at the requirements for supervisory systems, the role of the supervisor and the types of communications to be supervised. Examines federal laws and NASD rules for communications, approval, filing, recordkeeping requirements and review procedures. Later sections examine rules and requirements for individual categories of communications and special rules for telemarketing and variable products.

Comprehensive Personal Liability Policy [eLICPL]
This course describes the Comprehensive Personal Liability Policy (CPL) which extends liability coverage to homeowners and renters, protecting them against liability that results from almost any personal or non-business activity. May qualify for insurance or professional designation continuing education credit.

Constructing Portfolios [200]
This course discusses construction of portfolios . The learner will review efficient markets and understand the importance of suitability determinations regarding equity securities.

Contract, The [eLICON]
This course explains the elements of a valid legal contract and property and casualty contract conditions. There is a review on the parts of an insurance contract and the special property and casualty contract features. May qualify for insurance or professional designation continuing education credit.

Customer Communications [31]
This course discusses restrictions on Internet communications, email, fax, the use of cold call sales and “do-not-call” list requirements. It reviews rules and requirements governing advertising and sales literature and improper solicitation techniques. Suitability concerns are addressed. May qualify for insurance or professional designation continuing education credit.

28

IV. Insurance & Financial Planning

Deferred Compensation Plans [613]
This course reviews the cause, level and risk of disability, as well as the large percentage of individuals who suffer an occupational or non-occupational disability at least once in their life. May qualify for insurance or professional designation continuing education credit.

Deferred Compensation, An Overview of [eLIODC]
This course covers the concepts of deferred compensation and salary continuation plans and how they can be used to attract and retain valuable employees. Also explained are methods for informally funding these plans with life insurance. May qualify for insurance or professional designation continuing education credit.

Defined Benefit Plans, A Guide to [9601]
This course discusses the evolution of tax-qualified plans and the benefits for employers and employees. Different types of defined benefit plans are discussed and compared to defined contribution plans. After reading this course, the student will be able to explain the main nondiscrimination, participation and eligibility requirements; tax law limits for contributions to defined benefit plans, their funding methods and the different formulas for determining benefits. Also discussed are the tax consequences for distributions from a defined benefit plan and the rules for required distributions; the use of integrated plans, rollovers and loans; and the penalties for prohibited transactions.

Defined Contribution Plans, A Guide to [9602]
This course discusses the evolution of tax-qualified plans, benefits of such plans for employers and employees, different types of defined contribution plans and the characteristics that set them apart from defined benefit plans. The student will learn about the main nondiscrimination, participation and eligibility requirements for defined contribution plans; the rules for the operation and funding of defined contribution plans; the limits on annual additions and catchup contributions; and the income tax treatment of contributions.

Disability Income Insurance [602]
This course covers disability income coverage requirements, qualifications, features, causes, levels and risk of disability and the large percentage of individuals who suffer an occupational or non-occupational disability at least once in their life. May qualify for insurance or professional designation continuing education credit.

Disability Income Insurance [eLIDI]
This course is an introduction to disability income concepts and an exploration of how disability insurance can be used to replace lost income, maintain a family’s current lifestyle, insure the continuation of a business during disability and provide for other special needs. The income tax treatment of disability income premiums and benefits is discussed, as is Social Security and other government disability programs. May qualify for insurance or professional designation continuing education credit.

29

2007 Course Catalog IV. Insurance & Financial Planning

Disability Income, An Overview of [eLIODI]
This course looks at the importance of providing for disability, examines types of disability coverage and how coverage works, including premium calculation and income taxation. May qualify for insurance or professional designation continuing education credit.

Disaster Planning [eLIDP]
This course focuses on risk management and business continuity planning with respect to natural disasters, acts of workplace violence or an act of terrorism. The importance of creating crises management, response teams and a written workplace violence plan is detailed, and various disaster insurance coverage is explained. May qualify for insurance or professional designation continuing education credit.

Diversification [70]
This course examines risk and its implications and provides explanations of the different layers of diversification. It also covers products and a vehicle utilized in diversification strategy. Included in this course are insurance products and implications for client relationships. May qualify for insurance or professional designation continuing education credit.

Electronic Communications [73]
This course provides a complete guide to all forms of electronic communication. SEC and SRO guidance on the proper use of electronic communications, including NASD’s Notice to Members regarding instant messaging. The application of the rules for advertising, sales literature and correspondence, including the amendments to NASD Rule 2210, web sites, chat rooms, message boards and e-mail are covered. Content rules, rules for electronic delivery of documents, applicable SEC books and records are discussed. May qualify for insurance or professional designation continuing education credit.

Employee Benefit Plans [608]
This course is a study of the laws that impact employee benefits and how plans are affected by taxes. The course will study legislative guidelines for employers. The student will study two main classes of employer-provided retirement plans and learn about long-term care, COBRA, employee benefits in a family business, employee benefit consulting and unemployment benefits. May qualify for insurance or professional designation continuing education credit.

Equity Indexed Annuities [93]
This course examines the nature of equity indexed annuity contracts and considers their important suitability requirements. Equity indexed annuities are “fixed”; they offer contract owners a guarantee that their principal won’t be lost and that they will receive interest at no less than a specified guaranteed rate. May qualify for insurance or professional designation continuing education credits.

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IV. Insurance & Financial Planning

Estate Planning [28]
This course is an overview of the estate planning process. It explains the fact-gathering process and highlights ownership and estate valuation issues. The role of insurance, annuities in estate plans, trusts, taxation concerns and estate preservation programs are discussed. May qualify for insurance or professional designation continuing education credit.

Estate Planning II, Second Edition [28A_2]
This course discusses current estate tax laws and the most commonly used estate planning tools. It also reviews the fact-gathering process and principles of suitability applicable to recommended strategies and products. May qualify for insurance or professional designation continuing education credit.

Ethical Conduct in the Financial Services Practice [eLIETH]
This course covers the definition of “ethics” as it applies to the financial services practitioner, the tools used, the process employed, an analysis of unethical and illegal practices, a listing of misleading terms to avoid and explains the company’s need to supervise the actions of its agents and registered representatives. Appropriate for all agents, registered representatives and other financial services practitioners, whether newly in the business or established “veterans,” who want to develop an ethics-centered practice. Case studies are the basis of section reviews and lesson tests. May qualify for insurance or professional designation continuing education credit.

Ethics for Investment Banking Personnel [20J]
This course discusses the types of confidential information frequently obtained by investment bankers and the high potential for abuse of this information; and the types of situations that cause ethical dilemmas for investment banking personnel.

Ethics III, Case Studies in Ethics and Suitability [20B]
This course presents ethical dilemmas and how to avoid them via case studies. Geared toward those engaged in the sales of financial products and services to retail customers. May qualify for insurance or professional designation continuing education credit.

Ethics in Insurance [606]
This course is a study of the basics of insurance fraud, policy suitability and how to assess the insurance needs of a client. Also discussed is a fiduciary duty, ethics in consumer protection and in advertising, legal foundation of insurance ethics and tax legislation. May qualify for insurance or professional designation continuing education credit.

Ethics IV, Case Studies in Ethics for Retail Sales Professionals [20C]
This course uses a case study approach to present ethical and regulatory dilemmas and how to avoid and/or properly resolve them. Geared to those engaged in the sale of financial products and services to retail customers. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog IV. Insurance & Financial Planning

Executive Bonus Plans [614]
This course discusses the responsibility the employer has in selecting benefits that will attract and retain executives for his/her company. A review of options employees have from which to choose, different aspects of business succession planning and insurable interest, the Internal Revenue Code 162 Bonus Plan, various financial tools, salary continuation plans and executive retirement plans. The course will cover how to define a key employee and the benefit of key employee insurance. May qualify for insurance or professional designation continuing education credit.

Federal Estate Tax Liability, Planning for the [eLIFET]
This course discusses the imposition of federal estate taxes at an individual’s death. It covers the role of the executor or administrator, valuation of decedent-owned businesses, property included in the estate for tax purposes and calculation of taxes owed. The course also explains the effects of EGTRRA on estate planning. May qualify for insurance or professional designation continuing education credit.

Financial Aid Strategies for College [eLIFAS]
This course demonstrates strategies in obtaining and maximizing college financial aid. It demystifies the application process and corrects common misconceptions regarding income and assets in relation to financial aid. The course explains various types of aid available and the so-called “federal methodology”, the most widely used formula for calculating a family’s financial need. May qualify for insurance or professional designation continuing education credit.

Financial Planning with Charitable Remainder Trusts [54]
This course provides the basics of charitable remainder trusts and their uses and identifies the basic features of the various types of charitable remainder trusts, tax advantages and reviews various scenarios in which a client might wish to use one. May qualify for insurance or professional designation continuing education credit.

Financial Planning with Variable Annuities [47]
This course highlights the role of the variable annuity in the “big picture”, helping financial professionals to fully understand how to use the variable annuity as an element in an overall financial plan developed for their clients. May qualify for insurance or professional designation continuing education credit.

32

IV. Insurance & Financial Planning

Fixed and Variable Annuities [19]
This course examines the differences between fixed and variable annuities. The role of general and separate accounts of insurance companies for fixed and variable annuities, advantages/ disadvantages of variable and fixed annuities, risks and limitations of these instruments are also discussed. State and federal regulatory requirements relating to annuities, including suitability requirements and taxation issues, are described in this course. May qualify for insurance or professional designation continuing education credit.

Fixed and Variable Life Insurance [8]
This course teaches the distinctions between traditional and variable insurance, objectives of various insurance products, risks they pose to investors and state regulatory requirements. The role of the general and separate accounts, application of federal securities laws to variable insurance products and variable insurance products are examined and their relative advantages are addressed. May qualify for insurance or professional designation continuing education credit.

Group Dental and Vision Insurance [eLIGDV]
This course covers the main characteristics of group dental plans, current options under dental PPOs and HMOs and plan designs and benefits available through vision care plans. May qualify for insurance or professional designation continuing education credit.

Group Disability Insurance [eLIGDI]
This course focuses on the critical definitions for disability insurance benefits, the key provisions and rules affecting group disability plans, the advantages/disadvantages of group plans as compared to individual policies and the differences between short-term and long-term group plans. It also covers the tax treatment of group disability insurance plans in different scenarios. May qualify for insurance or professional designation continuing education credit.

Group Health Insurance [eLIGHI]
This course explains traditional indemnity plans, managed care, the impact of HIPAA on group health plans, group health contract provisions, Archer Medical Savings Accounts, common measures in controlling managed care costs and the tax treatment of group health plan premiums and benefits paid. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog IV. Insurance & Financial Planning

Group Insurance [eLIGRI]
This course takes a look at the principles of insurance and discusses the three main types of group health insurance. Also included is a study of the legislation that impacts employers and the group coverage that they provide and review of the basics of benefit consulting in the workplace, group benefits that are available, indemnity plans, features and benefits of basic and major medical and hospitalization policies. May qualify for insurance or professional designation continuing education credit.

Group Insurance, An Overview of [eLIGI]
This course provides a basic background of group life and health insurance, its benefits, underwriting considerations and other aspects of how it works. Also reviewed are the various types of plans and products available, eligibility and funding. May qualify for insurance or professional designation continuing education credit.

Group Insurance, Basic [604]
This course studies legislation that impacts employers and the group coverage that they provide their employees. The course looks at the basics of benefit consulting in the workplace, indemnity plans and the features and benefits of the basic medical and hospitalization policy. The student will also study the features and benefits of major medical insurance. May qualify for insurance or professional designation continuing education credit.

Group Life Insurance [eLIGLI]
This course covers group life insurance. The main types of group life insurance (group-term, group whole life and group universal life) are discussed, focusing on premiums, cash value, death benefits, portability options, tax treatment and the advantages/disadvantages for each type of plan. Voluntary and supplemental payroll deduction product concepts are also covered.

Health and Disability Insurance [601]
This course is a general overview of health care in the United States and a history of managed health care and private insurance companies. It reviews every aspect of the features, provisions and benefits of every health insurance policy that an agent will need to know when talking to a prospective client. May qualify for insurance or professional designation continuing education credit.

Health Insurance, An Overview of [eLIHI]
This course provides an understanding of how health insurance began and developed, sources of health insurance coverage and the various methods of delivery that have developed to enhance availability, cost and quality. May qualify for insurance or professional designation continuing education credit.

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IV. Insurance & Financial Planning

Health Savings Accounts [eLIHSA]
This course covers the key features of Health Savings Accounts (HSAs) and distinguishes this tax-favored arrangement from Archer Medical Savings Accounts (MSAs) and Flexible Spending Arrangements (FSAs). The Medicare law passed at the end of 2003 created a new vehicle for handling health care expenses. May qualify for insurance or professional designation continuing education credit.

HIPAA, Introduction to [eLIHIPAA]
This course explains the Health Insurance Portability and Accountability Act of 1996 (HIPAA). Title I focuses on the provisions addressing discrimination and abuses relating to health insurance coverage as well as the creation of Archer Medical Savings Accounts (MSAs). Title II explains the privacy provisions for covered entities and the requirements for protecting an individual’s private health information. May qualify for insurance or professional designation continuing education credit.

Homeowners and Dwelling Insurance [eLIHDI]
This course discusses differences and similarities between the two types of insurance. The course details the different coverage and the features of the Homeowners and Dwelling Program for eligible policyholders. There is an explanation of the basic and broad form perils and exclusions common to homeowners and dwelling property forms. May qualify for insurance or professional designation continuing education credit.

Homeowners Rating [eLIHR]
This course explains the procedures of rating homeowners insurance. It creates building blocks that enable the student to select and apply the correct rating procedures for a given situation, determine the premium based on the main homeowner’s forms, common property and liability endorsements and the Mobile Home Supplement rules. Actual rating tables are featured throughout the course. May qualify for insurance or professional designation continuing education credit.

Individual Retirement Accounts [eLIIRA]
This course reviews the current rules for traditional, Roth, and education IRAs regarding eligibility, contribution limits, deductibility of contributions and the rules for and taxation of withdrawals, and identifying changes resulting from the Economic Growth and Tax Relief Reconciliation Act of 2001. Included are sections on the rules for converting a traditional IRA to a Roth IRA; rollovers from a qualified plan to a traditional IRA; and an overview of the 2001 Department of Treasury regulations that liberalized the rules for minimum required distributions. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog IV. Insurance & Financial Planning

Industry, The [eLIIND]
This course introduces students to the history and science of insurance. The basic concepts of insurance including risk, loss prediction and insurable interest, the usefulness of insurance and the value of the industry itself are discussed, and the products that are available for insuring against risks that threaten economic security are considered.

Information Security Awareness [85]
This course covers topics such as password construction and management, Internet usage, telephone fraud, physical security/building access, incident reporting, mobile and laptop security, home PC security, back-up regulation and compliance issues. There is a section dedicated to email usage, malicious code that includes viruses, Trojans, worms and identity theft. May qualify for insurance or professional designation continuing education credit.

Inland Marine Insurance [eLIIMI]
This course walks students through the Personal Inland Marine Floater Policy and the Personal Articles Floater. Covered are conditions and exclusions for Personal Inland Marine and newly acquired property, valuation, underwriting considerations and other matters for the Personal Articles Floater. May qualify for insurance or professional designation continuing education credit.

Insurance Buy/Sell Business Valuation [eLIBSV]
This course explores entity purchase and cross-purchase agreements, Section 302 and 303 redemptions and business valuation and continuation methods. This tutorial covers buy/sell agreements available at the death, disability or retirement of a key individual. May qualify for insurance or professional designation continuing education credit.

Insurance Law [607]
This course is a general overview of insurance and law with a brief overview of insurance regulation. Included is the purpose of insurance classifications and the 14 principles of insurance law. Reviews the assignments and interests of insurance and property/casualty/life/health insurance law. Detailed is risk, designations, automatic renewals and coverage issues, IMSA principles and standards. The course outlines organization of insurance marketing, marketing transaction, duties of the insurer, fiduciary duty, the origin of fiduciaries and the breach of fiduciary duty. May qualify for insurance or professional designation continuing education credit.

Insurance Products, An Overview of [eLIIP]
This course explains the elements of insurance policies and various products available, traditional life insurance, interest-sensitive and adjustable life, variable life and annuities, investments in stocks, bonds and mutual funds, health care insurance, disability income insurance and group insurance. May qualify for insurance or professional designation continuing education credit.

36

IV. Insurance & Financial Planning

Insuring the Corporate Executive [eLIIC]
This course discusses the importance of the key executive to an organization and how insurance planning may be used to retain key executives and indemnify the organization upon their loss through death. A discussion of various accepted methods of valuing a key executive is included. May qualify for insurance or professional designation continuing education credit.

Interest-Sensitive and Adjustable Policies, An Overview of [eLIISAP]
This course explains universal life and adjustable life insurance with an emphasis on the flexibility of premium payments and adjustability of coverage. Also covered are interest rates, mortality and expense charges and net amount at risk as it relates to death benefit options, loans, withdrawals and taxation. May qualify for insurance or professional designation continuing education credit.

Investment Factors, Objectives and Risks [eLIIF]
This course provides the student with a detailed discussion of general investment factors, investment objectives and the elements of risk. May qualify for insurance or professional designation continuing education credit.

IRA, SEP and Keogh Plans [eLIISK]
This course explains how IRA, SEP and Keogh plans are used to establish personal retirement funds, eligibility requirements and the tax treatment of the plans, distribution options and the methods of funding. May qualify for insurance or professional designation continuing education credit.

Keogh Plans [eLIKP]
This course explores how Keogh plans provide retirement funds for self-employed individuals and their employees. Topics include plan requirements and eligibility; defined contribution and defined benefit plans; Social Security integration; top-heavy restrictions; the taxation of distributions; and several investment alternatives, including life insurance. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog IV. Insurance & Financial Planning

Key Employee Insurance [615]
This course studies the factors in defining a key employee. The course will study different aspects of business continuation planning and insurable interest as it relates to the life insurance policies used in key employee insurance plans and several ways in which the employer and employee can set up a key employee insurance plan. This course compares other business life insurance arrangements with the split-dollar arrangement. May qualify for insurance or professional designation continuing education credit.

Life Insurance and Annuity Replacement [eLILAR]
This course discusses the nature of replacement of an insurance or annuity contract and reviews the policyholder and regulatory concerns about replacement. Also explained is full and fair disclosure and prohibited replacement activities. May qualify for insurance or professional designation continuing education credit.

Life Insurance Comparisons [605]
This course details various types of life insurance policies and covers such topics as the beginnings of insurance, purpose of insurance, general comparisons of life insurance policies and their important principles. Also covered are various provisions and clauses of life insurance policies and a comparison of the features and benefits, as well as various types of life insurance. May qualify for insurance or professional designation continuing education credit.

Life Insurance Sales Cycle, An Overview of the [eLIOLS]
This course provides a basic overview of the selling process for insurance agents. After demonstrating the need for a conscious selling process, it walks students through the steps of that process, from prospecting through closing, with examples at each point. The final section discusses ways in which agents build and keep a client base.

Long Term Care [eLILTC]
This course focuses on the risk of needing long-term care and who needs long-term care insurance. It reviews levels of nursing care, types of long-term care facilities, characteristics of qualified long-term care policies and explains the alternatives to individual long-term care insurance. In addition, supplements are provided for Colorado and Washington, which address the specific requirements in those states. May qualify for insurance or professional designation continuing education credit.

Long Term Care, [600]
This course studies the issues of long-term care and the importance in planning for one’s future. It examines the needs of the elderly and covers the types of abuse and neglect to which the elderly are vulnerable. Included are care giving, financial impact of care giving, responsibilities of each individual to plan financially for his/her elder years, costs of long-term care and payment resources available. The student will learn the different types of long-term care insurance, restrictions of the LTC policy and important regulations that affect long-term care. May qualify for insurance or professional designation continuing education credit.

38

IV. Insurance & Financial Planning

Managed Health Care [603]
This course studies the issues of managed health care and gives an overview of health care issues. The course looks at rising health care costs, the personal responsibility to prepare for his/her health care expenses, traditional managed care systems and integrated delivery systems. A review of the history of managed health care is included. May qualify for insurance or professional designation continuing education credit.

Medicaid [eLIMDD]
This course is an overview of Medicaid and what distinguishes it from Medicare. The federal and state roles are compared and eligibility is explained. There is a review of the services provided and recent changes which have taken effect. May qualify for insurance or professional designation continuing education credit.

Medicare [eLIMDC]
This course describes the purpose of Medicare and the rules governing eligibility and enrollment. There is an explanation on the differences between Part A and Part B coverage and the Medicare appeals process. May qualify for insurance or professional designation continuing education credit.

Medigap [eLIMDG]
This course discusses the rules governing the original Medicare program and the role Medigap policies play in relation to the Medicare program. May qualify for insurance or professional designation continuing education credit.

Miscellaneous Personal Lines Policies [eLIMPL]
This course reviews several different policies used for specific purposes. The policies include the personal umbrella policy, mobile home policy, farm and ranch coverage, personal inland marine policy, personal theft policies and watercraft policies. The course explains how the policies work and what their specific purposes are. May qualify for insurance or professional designation continuing education credit.

Myths of Annuities [95]
This course is intended as an intermediate level discussion of the general misunderstanding about fixed and variable annuities and the reasons why annuities can be a suitable component of the financial plans of many clients. May qualify for insurance or professional designation continuing education credit.

New Rules for IRA Distribution Planning, The [51_2]
This course discusses the new rules that significantly affect IRA distribution planning, minimum required distributions and allowing for post-mortem distribution planning. Practical examples are used to illustrate the effect of various planning techniques. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog IV. Insurance & Financial Planning

Pension Basics [eliPB]
This course covers the basic concepts underlying pension plans and explains basic requirements and regulations governing pension plans, the types of plans available and plan funding. One lesson consists of case studies used to apply these concepts and requirements to differing needs and situations. May qualify for insurance or professional designation continuing education credit.

Pension Planning, A Guide to [96]
This course covers defined benefit plans; defined contribution plans; 401(k) plans and small business retirement plans. These plans are often a primary source of retirement income for middle and upper-income families. May qualify for insurance or professional designation continuing education credit.

Permanent Whole Life Insurance [eLIWL]
This course presents the basics of whole life insurance and introduces the elements of whole life insurance policies, organization of life insurance companies, dividends and premium factors. Also considered is the whole life product in the sales situation. May qualify for insurance or professional designation continuing education credit.

Personal Auto Rating [eLIPAR]
This course teaches how to calculate personal auto policy premiums for various types of drivers, uses and vehicles and discusses miscellaneous related topics. The tutorial includes extensive use of tables, explaining each classification and offering exercises in which students practice the material just explained. May qualify for insurance or professional designation continuing education credit.

Personal Automobile Insurance [eLIPAI]
This course provides an overview of the personal auto policy and the provisions that apply to all coverage. It explains the need for personal automobile insurance, coverage it provides, conditions that define the rights and duties of the insurance company and which persons are covered. Students review policy limits, exclusions and the obligations of insureds and insurers. May qualify for insurance or professional designation continuing education credit.

Personal Automobile Insurance Basics [eLIPAB]
This course describes personal auto insurance, including the property and casualty risk exposures of owning and operating an automobile not covered by homeowners’ policies. This course reviews and discusses the main features of personal auto insurance. May qualify for insurance or professional designation continuing education credit.

Personal Umbrella Policy [eLIPUP]
This course provides an overview of the Insurance Services Office and the personal umbrella policy. It reviews key definitions, coverage, exclusions and general provisions and endorsements in detail. May qualify for insurance or professional designation continuing education credit. 40

IV. Insurance & Financial Planning

Premium Factors, Dividends and Death Benefits, An Overview of [eLIPF]
This course provides a review of the factors used to establish life insurance premiums. A discussion of policy dividends and an explanation of death benefits and how they are paid is included. May qualify for insurance or professional designation continuing education credit.

Property and Casualty Concepts [eLIPCC]
This course is designed to give an overview of the basic concepts associated with property and casualty insurance. The course begins with an overview of the origins of property and casualty insurance. The remainder of the course explains the terms most used and gives examples of how the terms are defined when an insured files a claim. May qualify for insurance or professional designation continuing education credit.

Property Insurance, Principles of [eLIPPI]
This course provides an overview of property insurance and property insurance contracts. Students learn about different types of contracts, as well as declarations, agreements, conditions and exclusions. May qualify for insurance or professional designation continuing education credit.

Protection Against Terrorism [PAT]
This course explains how to conduct a security audit based on the types of threats and levels of security that may be involved. The responsibilities of the Crises Response Team in implementing a disaster recovery plan are described in detail. The ISO war risk exclusion and coverage provided by Kidnap and Ransom insurance is covered.

Qualified Retirement Plans, An Overview of [eLIQRP]
This course discusses qualified retirement plans with an emphasis on the two major categories: defined contribution and defined benefit plans. Qualification and participation rules are discussed, in addition to Social Security integration, vesting, plan investments and top heavy rules. May qualify for insurance or professional designation continuing education credit.

Retirement Distributions, Planning for [eLIPRD]
This course covers the essential aspects of retirement distribution planning. Topics include various sources of retirement income, tax ramifications, legal requirements, limitations and opportunities associated with retirement plan choices and estate planning considerations. Practical strategies are offered to address five common client scenarios. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog IV. Insurance & Financial Planning

Retirement Plan Rollovers [eLIRPR]
This course covers the critical aspects of rollovers, rollovers from qualified retirement plans and IRAs as well as the key changes under the Economic Growth and Tax Reconciliation Relief Act (EGTRRA) of 2001. The information included in this course is especially valuable to high net worth clients. May qualify for insurance or professional designation continuing education credit.

Retirement Plans II, Second Edition [25_2]
This course is a discussion of the various types, designs and aspects of retirement plans focusing on the differences between non-qualified and qualified plans including profit sharing, money purchase, 401(k), SIMPLE and defined benefit plans and retirement plan design. The course includes IRS requirements for highly compensated employees, the ACP and ADP tests, top heavy plans and minimum coverage. Fiduciary responsibilities are defined and explained. Special focus is given to plan distributions. May qualify for insurance or professional designation continuing education credit.

Risk Management [eLIRM]
This course introduces life risks and asset risks as they relate to individual and group insurance. May qualify for insurance or professional designation continuing education credit.

Sale of Variable Annuities to Seniors [1903]
This course reviews the characteristics of annuities that bear upon their suitability for seniors, including costs, tax issues, and estate issues; compares an investment in a variable annuity to an investment in mutual funds; discusses the risks associated with variable annuities, suitability issues applicable to seniors; and examines some common sales pitches used for variable annuities and the facts that must be included in any presentation. May qualify for insurance or professional designation continuing education credit.

Sarbanes-Oxley Act of 2002, The [eLISOA]
This course explains the main provisions of the Sarbanes-Oxley Act of 2002. The Act has wide application for publicly traded corporations, public accounting firms, financial analysts and investment bankers. May qualify for insurance or professional designation continuing education credit.

Section 529 Plans [529]
This course covers the advantages of Section 529 Plans (a popular vehicle for funding a child’s college education), how to use them, rules for contributions and qualified withdrawals, tax benefits, coordination with other tax-favored plans and the impact of recent tax legislation. May qualify for insurance or professional designation continuing education credit.

42

IV. Insurance & Financial Planning

Senior Protection in Annuity Transactions [91]
This course incorporates all of the guidelines contained in the NAIC model regulation and is designed to guide licensed representatives in appropriate processes and procedures when selling annuity products to seniors. May qualify for insurance or professional designation continuing education credit.

Separate Accounts and Variable Products [eLISAVP]
This course presents the basics of general accounts and separate accounts and discusses the economic factors leading to the creation of separate accounts that are designed to serve the needs of individual customers, as well as pension managers. There is a review of the types of separate accounts, their restructuring and regulation and an introduction to types of products supported by separate accounts. May qualify for insurance or professional designation continuing education credit.

Simplified Employee Pension Plans [eLISEP]
This course introduces Simplified Employee Pension (SEP) plans and SIMPLE plans as alternatives to other tax-qualified retirement plans that must meet complex reporting requirements. Topics include requirements, contributions and funding, distributions and tax-free transfers. Social Security integration and top-heavy plans for SEPs. May qualify for insurance or professional designation continuing education credit.

An Overview of Small Business Retirement Plans [9604]
This course describes the rules concerning the eligibility, contributions and distributions for Savings Incentive Match Plans for Employees (SIMPLEs) and compares SIMPLEs to Simplified Employee Pensions (SEPS). Also discussed are: Keogh plans, the main benefits of solo 401(k) plans and the increased popularity of such plans in the wake of the Economic Growth and Tax Relief Reconciliation Act (EGTRRA).

Split Dollar Insurance [610]
This course discusses features, benefits, advantages, types and characteristics of corporations. The basics of the split-dollar arrangement, specific concepts, set-up plans and features of the Arrangement are reviewed. The forms and types of split-dollar business insurance, the uses of split-dollar business insurance and the important issue of taxation of the split-dollar business arrangements are covered. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog IV. Insurance & Financial Planning

Split Dollar Insurance [eLISD]
This course covers the concept of split dollar, level death benefits, ownership, economic benefit costs, tax advantages, how split dollar plans can provide supplemental retirement income, how they can fund buy/sell agreements and various types of plans, as well as the impact of recent IRS notices on split dollar plans. May qualify for insurance or professional designation continuing education credit.

Split Dollar Insurance, An Overview of [eLIOSD]
This course introduces the concept of selective benefit plans and how they are used to attract and keep valuable employees. It explores the most popular selective benefit plans, the split dollar insurance plan and different forms of split dollar arrangements. May qualify for insurance or professional designation continuing education credit.

Standard Fire Policy [eLISFP]
This course covers the standard fire policy, which serves as the foundation for most property insurance contracts. There is a focus on the original contract, concepts and variations that have developed from it and the types of endorsements that allow the use of the standard fire policy today. May qualify for insurance or professional designation continuing education credit.

Survivorship Life Insurance, Introduction to [eLISLI]
This course explains the concepts of survivorship life insurance and its many uses. Focusing on how the product solves estate settlement concerns for liquidity, the course includes the fundamental principles of estate planning, including the unified estate and gift tax law, credit shelter trusts, unlimited marital deductions and handling estate settlement costs. May qualify for insurance or professional designation continuing education credit.

Taxation of Life Insurance Products, Second Edition [37_2]
This course covers various taxation issues affecting life insurance products including a discussion of the basic tax rules governing life insurance and how policies are structured to achieve the tax advantages of owning life insurance. Structuring life insurance trusts, taxation of premiums, insurance proceeds and the requirements for section 1035 exchanges are covered. May qualify for insurance or professional designation continuing education credit.

Tax-Favored College Savings Plans [eLITFC]
This course reviews popular savings arrangements ranging from simple gifts of incomeproducing assets to sophisticated arrangements involving trusts and family limited partnerships. Also covered are Coverdell ESAs and Section 529 Plans, as well as traditional savings vehicles such as mutual funds, annuities and other types of securities. May qualify for insurance or professional designation continuing education credit.

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IV. Insurance & Financial Planning

Tax-Qualified Plans [eLITQP]
This course explains the benefits and requirements of tax-qualified plans, including the ERISA rules and regulations. In addition to corporate pension and profit-sharing plans, it discusses alternative forms of retirement plans such as traditional and Roth IRAs, Coverdell Education Savings Accounts (ESAs), SEPs and SIMPLE accounts, Keogh plans, tax-sheltered annuities and 401(k) plans. May qualify for insurance or professional designation continuing education credit.

Technical Background for Needs Selling, Advanced [eLIADN]
This course details the disposition of personal and business property and the consequences of improper planning to a family, business or estate. The Advanced Technical Background for Needs Selling tutorial is most appropriate for the agent already familiar with a needs selling approach. May qualify for insurance or professional designation continuing education credit.

Term and Permanent Insurance, An Overview of [eLITPI]
This course provides the basic groundwork for understanding more sophisticated policy forms. Term, whole life and other types of permanent insurance are discussed. Also covered are nonforfeiture options, supplemental benefits and term riders available. May qualify for insurance or professional designation continuing education credit.

Term Insurance [eLITI]
This course provides a review of the main features of term insurance coverage. It describes the needs that historically gave rise to term insurance and types of term policies and riders that are available. Special attention is given to term riders and availability of term life insurance in group plans. May qualify for insurance or professional designation continuing education credit.

Today’s Insurance Professional [IP1]
This course is designed to be a comprehensive learning tool that extensively covers the topics of life insurance, annuities, mutual funds, ethics and market conduct, suitability requirements, regulation of communications, asset allocation, retirement plans, estate planning, the GrammLeach-Bliley Act, the Investment Advisor’s Act, money laundering and Tax Relief 2001. Licensed agents will learn how to deal with new concepts, new products and new lines of business. May qualify for insurance or professional designation continuing education credit.

Unauthorized Insurance Entities [74]
This course reviews the sale of insurance products by unlicensed carriers. It explains the implications for insurance agents, healthcare providers and clients, outlines the steps for due diligence and details the risks and penalties for non-compliance. The student will learn to recognize an unauthorized insurance company and explain the potential damages and protection available as well as understand the sanctions and liabilities that may result from representing an unauthorized insurer. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog IV. Insurance & Financial Planning

Universal Life Insurance [eLIUL]
This course summarizes the important fundamental principles of variable life insurance. Key topics include: general and separate accounts; cash value; death benefit; loans, withdrawals and surrenders; dividends; and common policy provisions. In-depth discussions of risks, tax consequences, applicable regulations, advantages/disadvantages, as well as suitability concerns associated with variable life are provided. May qualify for insurance or professional designation continuing education credit.

Variable Annuities and Their Suitability [52]
This course compares a fixed annuity to a variable annuity and reviews the basic characteristics of a variable annuity and the various premium payment methods, distribution methods, costs and types of death benefits. A comparison of variable annuities to mutual funds is provided, along with the two-step suitability analysis and each of the factors identified by NASD as relevant in determining whether a variable annuity is suitable for a particular customer. Provides tools to assist with financial planning through variable annuities, using practical examples to illustrate the planning process with clients having various financial circumstances. May qualify for insurance or professional designation continuing education credit.

Variable Annuities in Tax Advantaged Accounts [1901]
This course will assist registered personnel in carrying out their responsibilities regarding the sale and marketing of variable annuities by reviewing the comparative tax advantages of “qualified” accounts and variable annuities; discussing the principles that registered representatives must bear in mind regarding tax advantaged accounts and annuities; examining 403(b) accounts, that call for the purchase of an annuity; and covering the suitability requirement and “best practices” guidance regarding sales of variable annuities. May qualify for insurance or professional designation continuing education credit.

Variable Annuities in Tax Advantaged Accounts, Supervisors Edition [1902]
This course will assist registered personnel in carrying out their responsibilities regarding the sale and marketing of variable annuities by reviewing the comparative tax advantages of “qualified” accounts and variable annuities; discussing the principles that registered representatives must bear in mind regarding tax advantaged accounts and annuities; examining 403(b) accounts, that call for the purchase of an annuity; and covering the suitability requirement and “best practices” guidance regarding sales of variable annuities. This version incorporates a brief discussion on supervisory concerns with reference to variable annuities in tax-advantaged accounts. May qualify for insurance or professional designation continuing education credit.

Variable Annuities, Advanced [19A]
This course analyzes the various features of the products that may be selected and how they operate. Suitability, risk and other sales practice issues and NASD rules specifically applicable to customer communications about variable annuities are covered. Tax treatments are reviewed. May qualify for insurance or professional designation continuing education credit.

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IV. Insurance & Financial Planning

Variable Annuities, Suitability Issues of [eLISVA]
This course covers the principal suitability issues related to variable annuities. After describing the product, the lesson discusses factors registered representatives should consider when recommending variable annuities and steps they may take to protect themselves from unsuitability claims. Also introduces the client profile and its relationship to the determination of suitability. May qualify for insurance or professional designation continuing education credit.

Variable Life Insurance [48]
This course includes the following key topics: general and separate accounts; cash value; death benefit; loans, withdrawals and surrenders; dividends; and common policy provisions, risks, tax consequences and the applicable regulations. The course highlights the advantages/ disadvantages and suitability concerns associated with variable life. May qualify for insurance or professional designation continuing education credit.

Variable Life Insurance, An Overview of [eLIOVL]
This course explains variable life and variable universal life insurance. Highlights include variable universal life with respect to its combined features of universal life insurance and investment products. A large portion of the course covers the separate account, what it is and how it functions in variable universal life insurance. May qualify for insurance or professional designation continuing education credit.

Variable Life Insurance, Suitability Issues of [eLISVL]
This course discusses the fundamental needs and concerns of variable life insurance prospects and provides the student with a basic understanding and appreciation of the risks and potential rewards associated with this product and problems that can arise from failing to fully disclose all of the relevant facts. There is an explanation of specific actions the registered representative can take to avoid claims of unsuitability, factors to consider regarding replacements, illustrations and client presentations. Suitability issues with respect to variable sub account selection are raised as part of a discussion of the types of sub accounts available. Two case studies test the student’s ability to apply the lesson concepts to actual client situations. May qualify for insurance or professional designation continuing education credit.

Variable Products, Suitability of [32]
This course discusses the nature, benefits and risks of variable insurance and variable annuity products, examines variable life, variable universal life, variable annuities and mutual funds. The course compares and contrasts mutual fund and variable annuity investments and suitability concerns for recommendations of various products are addressed. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog IV. Insurance & Financial Planning

Variable Universal Life Insurance [34]
This course discusses the elements of a variable universal life (VUL) insurance product, compares VUL to variable life and universal life policies and assesses the VUL product’s advantages/ disadvantages for the client. Also covered is risk tolerance, specific suitability considerations affecting VUL sales, regulatory environment and ethical issues affecting sales of VUL policies. May qualify for insurance or professional designation continuing education credit.

Variable Universal Life Insurance [eLIVUL/83]
This course compares VUL to variable life and universal life policies, and assesses the VUL product’s advantages/disadvantages. Also covers the concept of risk tolerance as it applies to the VUL client, specific suitability considerations affecting VUL sales, regulatory environment and ethical issues affecting sales of VUL policies. May qualify for insurance or professional designation continuing education credit.

Workers’ Compensation [eLIWC]
This course discusses the history of the workers’ compensation system. Different funding options and premiums are determined. The course explains the structure of a typical workers’ compensation policy . There is also a review of exclusions to workers’ compensation coverage that apply when coverage is provided under other insurance policies or is provided through selfinsurance. The exclusion of farm and domestic workers is discussed. May qualify for insurance or professional designation continuing education credit.

Overview of 401(k) Plans (9603)
A discussion of the history of employer sponsored retirement plans and how these plans were promoted through special tax incentives for employers and participating employees. Also explains the evolution of Roth 401(k) Plans and how the Roth 401(k) Plan differs from its predecessors.

Development and Operation of Equity Indexed Annuities, The (107)
Examines the factors that led to the development of EIAs; explains how EIAs function; identifies the common interest crediting methods employed in EIAs; discusses participation rates, rate caps and margins and their effect on EIAs, and discusses important suitability principles. Case studies are employed to illustrate how to determine if an EIA is suitable for a customer. May qualify for insurance or professional designation continuing education credit.

Selling and Exchanging Annuities-A Look at Suitability Issues (108)
This course examines the suitability issues with respect to the sale and exchange of declaredrate, fixed, variable and equity indexed annuities contracts. Examines the issues of surrender charges, crisis waivers, applicant age, objectives, risk tolerance and other factors to be considered in the suitability analysis. May qualify for insurance or professional designation continuing education credit.

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IV. Insurance & Financial Planning

Section 529 Qualified Tuition Plan Suitability Issues (109)
Examines the suitability analysis that should be undertaken for any customer considering establishing a Section 529 Qualified Tuition Plan; determining the appropriate plan, and the effect of that decision on the student’s eligibility for financial aid. Advantages and disadvantages of in-state and out- of-state plans and their tax treatments are also considered. May qualify for insurance or professional designation continuing education credit.

Variable Annuity Living Benefit Riders: Operation and Suitability (110)
This course discusses Guaranteed Minimum Benefit, Guaranteed Minimum Accumulation Benefit and Guaranteed Minimum Withdrawal Benefit. The advantages/disadvantages of each benefit are covered in detail. May qualify for insurance or professional designation continuing education credit.

Income Taxation of Life Insurance (111)
This course discusses the federal income tax treatment given to life insurance. Policy issues and living benefits are examined, as well as death benefits and modified endowment contracts (MECs). May qualify for insurance or professional designation continuing education credit.

Understanding Variable Annuities: Functions, Benefits, Limitations and Needs (112)
A guide to the design, function, benefits, limitations and role of variable annuities Also discussed are the many investment options and techniques offered by variable annuities, and a look at the importance of a client’s liquidity needs, risk tolerance and investment timeline to ensure product suitability. May qualify for insurance or professional designation continuing education credit.

Overview of Medicare Part D, An (116)
An overview of the Medicare prescription drug benefit which became available as of January 1, 2006. Benefit features, eligibility, access to coverage, cost of coverage and enrollment are discussed. Sources of additional information about these topics are identified. There is a discussion of the elements that need to be a part of the Medicare beneficiary’s process in selecting the plan that best suits his or her needs. May qualify for insurance or professional designation continuing education credit.

Insurance Ethics: Walking a Sometimes Invisible Line (117)
An examination of ethics and the role it plays in the insurance industry. The course discusses ethics as it applies to brokers, career agents and independent agents. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog IV. Insurance & Financial Planning

POPs, FSAs, HRAs and HSAs: Combining Benefits (118)
This course examines Premium Only Plans, Flexible Spending Arrangements, Health Reimbursement Arrangements and Health Savings Accounts. It considers the advantages and disadvantages of each and how they interact with each other to meet client objectives. May qualify for insurance or professional designation continuing education credit.

College Savings: Planning for A Child’s Future (119)
This course focuses on saving for college through investments, Section 529 Plans, higher education tax breaks and Coverdell Education Savings Accounts. May qualify for insurance or professional designation continuing education credit.

Income Taxation of Non-Qualified Annuities (120)
This course discusses the federal income tax treatment given to life insurance and annuities. The course also provides a comparison between annuities and other accumulation vehicles. Living benefits, penalty taxes, transfers and death benefits are also examined. May qualify for insurance or professional designation continuing education credit.

Retirement Planning for Seniors: Helping Our Clients Take Charge (123)
This course presents the basics of financial planning for those clients and prospects who are at or near retirement, the already retired, and for their family members. Much of this will also be relevant for those planning for a more distant retirement. May qualify for insurance or professional designation continuing education credit.

Insurance Law for the Oregon Life Insurance Producer (607_OR)
This course has been created specifically for the Oregon life insurance producer and is designed to provide an understanding of general insurance laws – their history, purpose, function and application – as well as specific laws and regulations established by the state of Oregon that govern the business of life insurance, life insurance transactions and licensed life insurance professionals. By understanding the principles of insurance law in general and with knowledge of the specific laws that apply in their state, Oregon insurance producers will be able to better serve both their companies and their customers and clients. May qualify for insurance or professional designation continuing education credit.

When Recommending Annuities Makes Sense: California 4 Hour Course (77A)
The central topic of this course is the impact of annuity purchases on our clients. Of particular interest are the sections on annuity disclosure and sales practice requirements applicable to sales to seniors as mandated by California law, and the sanctions that may apply to agents who violate California law. May qualify for insurance or professional designation continuing education credit.

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V. Investment Advisor
401(k) Plans and SIMPLEs [eLI401K]
This course focuses on two of the most popular types of tax-qualified retirement plans: the 401(k) and the SIMPLE (Savings Incentive Match Plan for Employees), the benefits, legal requirements, design and operation of each type of plan. It also explores various types of investments, plan investment criteria and selection for 401(k) s and SIMPLEs. May qualify for insurance or professional designation continuing education credit.

529 Plans and Other College Savings Programs [53]
This courses focuses on the features of 529 Plans also known as Qualified Tuition Plans. Covered are the legal requirements 529 plans must meet, some of the features commonly found in these plans and some of the major factors that must be taken into account in recommending 529 plans to customers. The student will also find overviews of some of the other programs available to help clients meet the costs of higher education. May qualify for insurance or professional designation continuing education credit.

Alternative Investments: Asset Backed Securities [05Mini_AltInv]
This course discusses asset-backed securities (securities that are backed by a discrete pool of selfliquidating financial assets), and SEC regulations.

Annuities, An Overview of [eLIOA]
This course provides an overview of annuities and explains how they differ from life insurance. Fixed, variable and equity-indexed annuities are discussed. The accumulation and payout phases, taxation, settlement options and the types of annuity contracts are reviewed. May qualify for insurance or professional designation continuing education credit.

Anti-Money Laundering [05Mini_AML]
This course reviews the highlights and current developments with regard to the prevention and detection of money laundering. It covers the more significant developments that occurred in 2004 that are likely to affect personnel within the securities industry, including valuable guidance provided by regulators pertaining to anti-money laundering.

Anti-Money Laundering Update Year 2003, Second Edition [35AU03_2]
This course provides a general background in the area of money laundering avoidance, acquaints the student with the provisions of the federal anti-money laundering statues, reporting and record keeping requirements under the Bank Secrecy Act. The student will become familiar with requirements for anti-money laundering compliance programs and alert you to requirements of customer identification procedures; provide information on responsibilities on certain foreign accounts; mechanisms for sharing information with law enforcement and introduce you to OFAC directives and your firm’s compliance responsibilities with regard to those directives.

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2007 Course Catalog V. Investment Advisor

Anti-Money Laundering Update Year 2004 [35AU04]
This course reviews the rules under the USA PATRIOT Act which require broker-dealers and certain other financial institutions to provide their personnel with anti-money laundering training on at least an annual basis to cover developments in the area of money laundering and terrorist finance avoidance over the preceding year. May qualify for insurance or professional designation continuing education credit.

Anti-Money Laundering Update Year 2005 [35AU05]
This course is an annual update of new regulations, regulatory proposals and developments affecting AML efforts of broker-dealers and their personnel. This course is designed to provide an overview of developments in the area of money laundering and terrorist finance avoidance over the preceding year. May qualify for insurance or professional designation continuing education credit.

Asset Allocation, Principles of [46]
This course provides an overview of the basics in account management and client services, fundamental principles of asset allocation and risk assessment, tools that are critical for salespersons to master in order to properly service their client base and help them manage increasingly volatile markets. May qualify for insurance or professional designation continuing education credit.

Asset-Backed Debt [16]
This course reviews the role of the CMO as a debt instrument. The distinctions between pass-through securities and these instruments are reviewed. Investment objectives of CMOs and risks posed by CMOs are reviewed at length. Variations in CMOs, regulatory requirements and suitability concerns for CMOs are also considered, as well as credit card and other cash flow sources that have been sold as asset-backed instruments. May qualify for insurance or professional designation continuing education credit.

Bank Secrecy Act Reporting Requirements [3504]
This course provides an overview of the various stages of money laundering and explains AML regulation, Currency Transaction Reports (CTRs) and other transaction reports required under the Bank Secrecy Act (BSA). The course also describes Suspicious Activity Reports (SARs) and activities, timing, requirements and practical implications associated with them.

Brokered Certificates of Deposit [10A]
This course provides financial services professionals with an overview of pertinent features and issues concerning brokered CDs. It discusses special features that are available in these products and some of the unique regulatory and customer protection issues attendant to them. This includes implications of brokered CDs being securities, FDIC pass-through insurance, the existence and features of a secondary market, various types of CDs and their features, as well as due diligence, suitability and disclosure considerations. May qualify for insurance or professional designation continuing education credit.

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V. Investment Advisor

Business Continuity Plans [05Mini_BusCon]
This course will help you understand the background of the business continuity plan (BCP) requirement; know what functions must be covered by the BCP; and know the disclosure requirements applicable to the BCP.

CDs and Money Markets [10]
This course examines the regulation of CDs and money market instruments, their suitability for investors and other regulatory concerns. The advantages/disadvantages of these instruments are also examined. May qualify for insurance or professional designation continuing education credit.

CFP Ethics [20CFP]
This course explains the ethical framework of the CFP Board including the Code of Ethics and Professional Responsibility and the Financial Planning Practice Standards. The course reviews terminology used by the CFP Board, the disciplinary process for misconduct, investigation process, inquiry panel, hearing panel, the Board of Professional Review and the Board of Appeals. Qualifies for CFP designation continuing education credit.

Constructing Portfolios [200]
This course reviews the construction of portfolios beginning with the subjects of risk-free rate, risk premium and measuring risk. Included are diversification and risk, the efficient frontier and the capital asset pricing model. The student will review efficient markets and understand the importance of suitability determinations regarding equity securities.

Corporate Debt [2]
This course teaches the nature of corporate bonds, their underwriting requirements and the application of the Trust Indenture Act of 1939. Mechanics of bond trading, redeemable, convertible and zero coupon bonds are examined. Investment objectives of corporate bonds and the suitability issues, risk factors and regulatory requirements are reviewed. May qualify for insurance or professional designation continuing education credit.

Currency Transaction Reporting [3502]
This course provides an overview of AML regulation, to help the student understand context for and purpose of Currency Transaction Reports (CTRs) and other AML reports. Outlines when a CTR must be filed and reviews other required transaction reports.

Customer Account Transfers [05Mini_CAT]
This course discusses the many reasons why a customer may transfer an account from one broker-dealer to another and the system used by broker-dealers to handle account transfers: Automated Customer Account Transfer Service (ACATS). Also discussed in the course is the Transfer Instruction Form (TIF), Nontransferable assets, how such assets are handled and how a receiving broker-dealer validates or rejects asset transfers.

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2007 Course Catalog V. Investment Advisor

Customer Communications [31]
This course discusses restrictions on Internet communications, email, fax, the use of cold call sales and “do-not-call” list requirements. It reviews rules and requirements governing advertising and sales literature and the improper solicitation techniques that are misleading. Suitability concerns are also addressed. May qualify for insurance or professional designation continuing education credit.

Customer Communications II, Series 6 Edition [31A_S6]
This course provides an in-depth analysis by building on our existing Customer Communications course [31] as it relates to individuals holding a Series 6 license. It addresses the essential points of customer communications. A primary focus is on the emerging concerns arising from electronic communication and registered representatives’ access to the Internet. This course provides useful information for both registered representatives and their supervisors. May qualify for insurance or professional designation continuing education credit.

Customer Communications II, Series 7 Edition [31A_S7]
This course provides an in-depth analysis by building on our existing Customer Communications course [31] as it relates to individuals holding a Series 7 license. It addresses the essential points of customer communications. A primary focus is on the emerging concerns arising from electronic communication and registered representatives’ access to the Internet. This course provides useful information for both registered representatives and their supervisors. May qualify for insurance or professional designation continuing education credit.

Customer Communications III [31B]
This course assists registered representatives in carrying out their obligations regarding communications with customers. The rules relating to advertising, sales literature and correspondence are reviewed, including the newly amended NASD Rule 2210 and 2211 “Institutional Sales Material and Correspondence.” The filing requirements for television and video advertisements set forth in Rule 2210 are addressed. May qualify for insurance or professional designation continuing education credit.

Customer Disclosure: The Interagency Statement and NASD Rule 2350 [43]
This course covers the required disclosures and is essential for financial professionals involved in the banking industry. The course is extremely useful for personnel at banks and bank-affiliated broker-dealers, as it covers disclosures and behaviors necessary to ensure compliance with the Interagency Statement and NASD Rule 2350. May qualify for insurance or professional designation continuing education credit.

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V. Investment Advisor

Customer Identification Procedures [3501]
This course delineates the important provisions of the CIP Regulations and what they are likely to mean to representatives, firms and their clients, what each firm’s CIPs must contain, when a customer’s identity must be verified, who is a customer for purposes of CIPs, acceptable ways of verifying identity and what to do if its not verifiable. A review of recordkeeping requirements of identifying information obtained and consulting terrorist lists and other steps that may need to be taken is included. May qualify for insurance or professional designation continuing education credit.

Day Trading: Margin Requirements [05Mini_DayTrad]
This course discusses the regulation of margin accounts; the special margin consideration of day trading; defines the characteristics of a “pattern day trader”; explains the minimum equity requirements for pattern day traders; and describes the buying power restrictions for pattern day traders.

Direct Investments [12]
This course discusses the investment objectives of limited partnerships, their advantages/ disadvantages and tax considerations. Master limited partnerships and real estate investment trusts (“REITs”) are reviewed. Commodity pools, limited liability companies and suitability requirements are also considered. Regulatory requirements for limited partnerships, including NASD policies on markups, advertising and “roll ups” are examined. May qualify for insurance or professional designation continuing education credit.

Diversification [70]
This course examines risk and its implications and provides explanations of the different layers of diversification. It also covers products and a vehicle utilized in diversification strategy. Included in this course are insurance products and implications for client relationships. May qualify for insurance or professional designation continuing education credit.

Do Not Call Registry [05Mini_DNC]
This course discusses the National Do Not Call Registry and the requirements for complying with FCC Do Not Call Regulations. Also discussed are NASD regulations regarding telemarketing and applying the Do Not Call Registry regulations to the securities industry. The student will have a clearer understanding of what is and is not acceptable in both the telemarketing and sales arenas.

Electronic Communications [73]
This course provides a complete guide to all forms of electronic communication. SEC and SRO guidance on the proper use of electronic communications, including NASD’s Notice to Members regarding instant messaging, is included. The application of the rules for advertising, sales literature and correspondence, including the new amendments to NASD Rule 2210, web sites, chat rooms, message boards and e-mail are covered. Content rules, rules for electronic delivery of documents, applicable SEC books and records are discussed. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog V. Investment Advisor

Emerging Markets [21_2]
This course is an overview of emerging markets beginning with a definition and moving into special risk factors, investment objectives, suitability concerns for emerging market equities, emerging market debt, emerging market funds and American Depository Receipts. May qualify for insurance or professional designation continuing education credit.

Estate Planning [28]
This course is an overview of the estate planning process. It explains the fact-gathering process and highlights ownership and estate valuation issues. The role of insurance, annuities in estate plans, trusts, taxation concerns and estate preservation programs are discussed. May qualify for insurance or professional designation continuing education credit.

Estate Planning II, Second Edition [28A_2]
This course discusses current estate tax laws and the most commonly used estate planning tools. It also reviews the fact-gathering process and principles of suitability applicable to recommended strategies and products. May qualify for insurance or professional designation continuing education credit.

Ethics [05Mini_Ethic]
This course is intended to generally reinforce your awareness of ethical issues. Specific issues range from research analyst conflicts of interest to discriminatory information and trading privileges afforded to the largest mutual fund shareholders.

Ethics [20]
This course describes the role of regulation and its guidance of ethical standards in the industry, regulatory structure and role of self-regulation in establishing ethical standards and regulatory standards. General ethical and legal considerations applicable to the handling of customer accounts, suitability information, dealing with unsophisticated customers, making disclosures to customers and avoiding abuses are reviewed. May qualify for insurance or professional designation continuing education credit.

Ethics III, Case Studies in Ethics and Suitability [20B]
This course presents ethical dilemmas via case studies. The case study method is used to present ethical dilemmas and how to avoid them. Geared to those engaged in the sale of financial products and services to retail customers. May qualify for insurance or professional designation continuing education credit.

Ethics IV, Case Studies in Ethics for Retail Sales Professionals [20C]
This course uses a case study approach to present ethical and regulatory dilemmas and how to avoid and/or properly resolve them. Geared to those engaged in the sale of financial products and services to retail customers. May qualify for insurance or professional designation continuing education credit.

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V. Investment Advisor

Ethics V, Servicing Institutional Clients [20D]
This course teaches registered representatives to appropriately resolve common problems that might arise in dealing with institutional clients and to recognize and avoid situations that can pose both an economic risk and a risk to the firm’s reputation.

Ethics VI, Conflicts of Interest [20F]
This course discusses various conflicts of interest and other timely ethical issues facing personnel in the securities industry. Explores timely ethical issues in a case study format. May qualify for insurance or professional designation continuing education credit.

Ethics VII, Professional Responsibility in the Securities Industry [20G]
This course discusses the definition of “professional”, the knowledge and skills required of a professional, professional licenses and professional responsibility. Also reviewed is the responsibility to maintain registration, know your customer and suitability issues, trade practice and other prohibited activity.

Ethics VIII: Truth and Accuracy in Documentation [20H]
This course discusses recent NASD decisions that address violations involving fraud and documentation, including falsification of information, failure to provide information and forgery. Also discussed is NASD Rule 2110, Standards of Commercial Honor and Principles of Trade.

Fee-Based Accounts: Compensation [05Mini_FBC]
This course will explain when broker-dealers offering fee-based accounts are not subject to the Investment Advisers act of 1940; describe the SEC disclosure requirements for fee-based accounts exempt from the Advisers Act; discuss NASD rules regarding the suitability of fee-based accounts for customers and explain the disclosure, monitoring and follow-up requirements of the NYSE’s Rule 405A governing fee-based accounts.

Financial Futures [13]
This course reviews the regulation of these instruments by the Commodity Futures Trading Commission (CFTC), as well as the mechanics of financial futures contracts, their use as hedging devices and the role they play in price discovery. Trading strategies are discussed and the role of clearinghouses in the futures industry is described. The course reviews the importance of margin requirements and considers both CFTC disclosure and other regulatory requirements. Special risks presented by stock index futures contracts are also reviewed.

Financial Planning with Charitable Remainder Trusts [54]
This course provides the basics of charitable remainder trusts and their uses and identifies the basic features of the various types of charitable remainder trusts, tax advantages and reviews various scenarios in which a client might wish to use one. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog V. Investment Advisor

Financial Planning with Variable Annuities [47]
This course highlights the role of the variable annuity in the “big picture.” The financial professionals will fully understand how to use the variable annuity as an element in an overall financial plan developed for their clients. May qualify for insurance or professional designation continuing education credit.

Fixed Income, Second Edition [4_2]
This course is a review of the growth of the fixed income market and the wide variety of instruments now available. Regulatory requirements are addressed and suitability concerns are considered. May qualify for insurance or professional designation continuing education credit. May qualify for insurance or professional designation continuing education credit.

Fixed Rate Products, Suitability of [58]
This course highlights the suitability and disclosure issues involved in the sales of fixed-rate products to retail clients. While viewed as conservative investments, sales of fixed rate products still present suitability considerations and entail risk. May qualify for insurance or professional designation continuing education credit.

Focus on Mutual Fund Sales Practices [4104]
This course is designed to provide registered representatives and their supervisors with guidance on the rapidly evolving regulatory landscape governing mutual fund sales practices. The student is provided a comprehensive discussion of evolving sales practice issues, including various sales practice and disclosure obligations attendant to the sale of mutual funds.

Fundamentals of AML for Registered Representatives [3505]
This course provides an overview of the various stages of money laundering and the various activities that constitute money laundering, reports required under the Bank Secrecy Act (BSA) and Currency Transaction Reports (CTRs). This course describes Suspicious Activity Reports (SARs) and activities, timing, requirements and practical implications associated with them. AML programs and Customer Identification Procedures (CIPs) are also explained.

Guiding Clients Through Difficult Markets [57]
This course discusses the two most important aspects of helping clients navigate through market volatility and economic uncertainty: managing client expectations and properly communicating with clients about their investments. May qualify for insurance or professional designation continuing education credit.

Hedge Funds [6001]
This course provides an overview of hedge funds for registered representatives, including common characteristics, distinctions from registered investment companies, different types and investment strategies, the risk factors associated with hedge funds generally and with particular trading strategies employed by different types of funds. Reviews the due diligence, suitability and disclosure requirements applicable to the recommendation and sale of hedge funds and outlines the areas of regulatory concern and potential regulation. 58

V. Investment Advisor

Hedge Funds: The Highlights [05Mini_HF]
This course will improve your knowledge of the characteristics, risks and regulatory concerns associated with hedge funds. As a result of scrutiny by the SEC, NASD and other regulators, members must be aware of their obligations when selling hedge funds.

The Impact of the Gramm-Leach-Bliley Financial Modernization Act [44]
This course reviews the changes in the financial services industry that have been by the passage of the Gramm-Leach-Bliley Act (GLBA) and related regulation. Also examined are the regulatory changes impacting banks, insurance companies and broker-dealers and how their businesses will be affected. May qualify for insurance or professional designation continuing education credit.

Index Options [7]
This course explains how the indexes used by these instruments are formulated and weighted. Index option mechanics, European capped options, American-style options, Flex options and LEAPS are discussed. Margin issues, the role of hedging and the effect of leverage from index options are examined. Trading strategies and regulatory concerns are also reviewed. May qualify for insurance or professional designation continuing education credit.

Insider Trading, Second Edition [24_2]
This course is a review of the background and scope of SEC anti-fraud standards prohibiting insider trading. Included is a review of mail and wire fraud prohibitions and restrictions on shortswing profits by insiders of publicly-held companies.

Institutional and Proprietary Trading and Sales [27]
This course examines losses experienced by institutions and claims that their counter-parties misled them. The regulatory responses to these claims and the role supervision plays in institutional trading programs are also reviewed. May qualify for insurance or professional designation continuing education credit.

Investment Advisers [30]
This course is a focus on conflict of interest provisions in that legislation and the role that fiduciary duties play in the activities of investment advisers. The suitability concept is examined. Other regulatory requirements are also addressed. May qualify for insurance or professional designation continuing education credit.

Investment Advisers II [30A]
This course covers compliance issues as well as practical problems frequently encountered by dually licensed registered representatives and investment advisers. It also examines areas of current regulatory focus. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog V. Investment Advisor

Lending Restrictions [05Mini_LendRes]
This course discusses NASD Rule 2370, which specifically bans loans to or from customers by registered representatives unless certain procedures are followed; and even then, only in limited situations. The student will become familiar with five types of loans permitted between registered representatives and customers; the notice and approval procedures required for permissible loans under Rule 2370; the 2004 amendment to Rule 2370; and the lending restrictions placed on registered representatives by state regulatory agencies.

Long Term Care, [600]
This course studies the issues of long-term care (LTC) and the importance in planning for one’s future. It examines the needs of the elderly and covers the types of abuse and neglect to which the elderly are vulnerable. Included is care giving, financial impact of care giving, responsibilities of each individual to plan financially for his/her elder years, costs of long-term care and payment resources available. The student will learn the different types of long-term care insurance, restrictions of the LTC policy and important regulations that affect long-term care. May qualify for insurance or professional designation continuing education credit.

Margin Accounts [05Mini_Margin]
This course will review and reinforce some of the basic rules and concepts concerning the use of margin and why investors use margin. The student will understand minimum, initial and maintenance margin and the different types of customer accounts used in margin trading. The fundamental requirements of Regulation T and SRO margin rules are also discussed.

Margins [26]
This course outlines the background of the regulatory requirements imposed by the Federal Reserve Board and reviews the requirements of Regulation T and the rules of the self-regulatory organizations governing maintenance margin requirements. The use of special memorandum accounts, the concept of “purchasing power,” and the granting of margin extensions are also discussed. May qualify for insurance or professional designation continuing education credit.

Margins II [26A]
This course is an overview of permissible activities in cash and margin accounts, initial and maintenance margin requirements and meeting calls. Account documentation and disclosure issues, suitability and risk management considerations are discussed. May qualify for insurance or professional designation continuing education credit.

Market Conduct for Financial Services Professionals [36]
This course includes historical and current market conduct issues, as well as industry regulations governing sales of life insurance products and securities products. Also covered are the rules and issues involved in “selling away” from the securities firm. May qualify for insurance or professional designation continuing education credit.

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V. Investment Advisor

Money Laundering: The Institutional Broker-Dealer Perspective, Third Edition [35INST_4]
This course provides tips to salespersons and others servicing institutional accounts on how to spot actual money laundering behavior and pointers for preventing potential money launderers from taking advantage of the firm. Items useful for compliance, monitoring and education programs are highlighted.

Municipal Debt, Second Edition [15_2]
This course reviews developments in the area of municipal securities trading, including the transparency of the municipal securities market and provides an overview of the basic characteristics of municipal bonds, the different types of municipal bonds and bond provisions; and other types of municipal securities, including CMOs and Section 529 plans. It also reviews suitability issues relating to the sale of municipal securities, including the risks and discusses possible suitable uses of municipal securities. Finally, it reviews some of the most pertinent regulatory requirements in connection with offering and selling municipal securities. May qualify for insurance or professional designation continuing education credit.

Mutual Fund Breakpoints [4101]
This course discusses the structure of breakpoints and the methods by which breakpoints may be obtained including identifying certain regulatory red flags that may trigger an investigation into whether or not a customer was adequately advised on breakpoints. May qualify for insurance or professional designation continuing education credit.

Mutual Fund Multi-Class Shares, Third Edition [41_3]
This course focuses on suitability concerns and topical sales practice issues and the various costs and fees associated with A, B and C share classes. It also explains how an investor’s profile needs to be analyzed and other mutual fund sales practice topics of concern to regulators. May qualify for insurance or professional designation continuing education credit.

Mutual Funds [05Mini_MF]
This course discusses the popularity of mutual funds and the media attention given to mutual fund sales practices, the particular practices for the sale of mutual funds and those practices that will become industry standards.

New and Secondary Offerings [05Mini_NSO]
This course is designed to give a brief overview of timely issues in the area of New and Secondary Offerings. After reading this course, the student should have a better understanding of NASD Rule 2790, which replaces the Free-Riding and Withholding Interpretation and the NASD amendments to Rule 2710.

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2007 Course Catalog V. Investment Advisor

Rules for IRA Distribution Planning, The [51_2]
This course discusses the rules that significantly affect IRA distribution planning, minimum required distributions and allowing for post-mortem distribution planning. Practical examples are used to illustrate the effect of various planning techniques. May qualify for insurance or professional designation continuing education credit.

Non-Registered Insurance Products, Suitability of [45]
The provisions of the GLBA require adoption of suitability rules by most jurisdictions in the coming years. This is important in helping registered representatives and licensed agents better understand their responsibilities in selling these products. May qualify for insurance or professional designation continuing education credit.

Options [6]
This course examines the mechanics of trading of stock options on the exchanges and the trading characteristics of exchange-traded options. Functions of the Option Clearing Corporation are explained. Investor objectives and regulatory considerations for stock options and abuses are considered. May qualify for insurance or professional designation continuing education credit.

Options II [6A]
This course is designed for individuals who primarily service retail clients and have basic knowledge of options products and how they work. The student is provided examples of certain popular listed options and options strategies. The course provides an overview of certain margin and tax considerations. It also outlines regulatory requirements pertaining to documentation, suitability and communications with the public. May qualify for insurance or professional designation continuing education credit.

OTC Equities, Second Edition [14_2]
This course describes characteristics of over-the-counter (OTC) securities. Regulatory requirements for purchasing and selling securities in the over-the-counter market are examined, including prospectus requirements, Blue Sky laws, underwriting restrictions and the role of exempt transactions. Also reviewed are the OTC secondary markets ( including the NASDAQ); functions of market makers; automated execution systems; role of the broker versus the dealer in the OTC market; general investment features of OTC equity securities; investment objectives; special risk factors affecting OTC common and preferred stocks; suitability considerations; and special concerns regarding “penny stocks”. May qualify for insurance or professional designation continuing education credit.

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Penny Stocks [18]
This course examines the special legislation and SEC regulations imposed on “penny stocks.” The term “penny stock” is defined and exclusions are considered. SEC rules concerning penny stock accounts, suitability information, customer agreements and risk disclosures are all reviewed. Blank check offerings are also discussed. Although the SEC’s penny stock rules do not apply to many firms, this course proves valuable to any broker or company that is involved in the penny stock market. May qualify for insurance or professional designation continuing education credit.

Preventing AML: Private Banking Accounts for Foreign Persons [3506]
This course provides an overview of money laundering and AML regulation. Customer Identification Procedures (CIP’s) and AML compliance programs are discussed. This course describes private banking accounts, including the requirements and factors involved in handling accounts for foreign persons.

Preventing AML: Senior Foreign Political Figures Accounts [3507]
This course provides an overview of money laundering and AML regulation. It explains the Bank Secrecy Act (BSA) and its focus on transaction reporting and monitoring, AML compliance programs and Customer Identification Procedures (CIP’s). The course provides extensive details regarding requirements and factors involved in handling accounts for senior foreign political figures.

Preventing and Detecting Money Laundering II: Case Studies, Second Edition [35A_2]
This course analyzes the issues presented by various hypothetical scenarios to help registered representatives, supervisors and other firm personnel better understand their duties and responsibilities in preventing and detecting attempts at using a broker-dealer for money laundering purposes. The course also examines the impact of suspicious activity reporting requirements on the hypothetical scenarios.

Preventing and Detecting Money Laundering, Second Edition [35_2]
This course discusses issues raised by this regulatory scheme and potential “red flags.” Tips on how to spot money laundering behavior, pointers for prevention of such behavior, items useful for compliance, monitoring and education programs. May qualify for insurance or professional designation continuing education credit.

Private Securities Transactions and Selling away [05Mini_PTSA]
This course is designed to make the student familiar with NASD Rule 3040; types of transactions that constitute “private securities transactions”; the requirements that the firm make a prior review and provide prior consent to any private securities transaction; and conduct that constitutes “selling away”.

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Regulation M [5]
This course discusses the history of SEC Rule 10-b and other SEC rules that have been replaced by Regulation M. Restricted trading periods for underwriters and issuers, limitations on passive market-making activities during a distribution and restrictions on stabilizing activities are also addressed.

Regulatory Focus- Research Analysts [05Mini_RA]
This course discusses rule changes brought about by the SEC, NASD and NYSE designed to lessen analysts’ conflicts and improve disclosure to investors. Also discussed is the focus on integrity and disclosure and their effects on research analysts and other activities at a brokerdealer.

Regulatory Focus: Bond Sales [05Mini_Bonds]
This course addresses the issues and concerns raised by NASD regarding bonds and bond funds. It discusses those issues identified by NASD in Notice to Members 04-30 as being areas that should be included in training for those who sell bonds and/or bond funds.

Replacements, 1035 Exchanges and Mutual Fund Switches [55]
This course helps registered representatives make appropriate decisions about when to recommend a replacement, exchange, or switch, identify instances in which such a recommendation would be deemed unsuitable or inappropriate and covers the practical aspects of documenting the transaction. May qualify for insurance or professional designation continuing education credit.

Research Analysts and Conflicts of Interest [6201]
This course covers permissible conduct of research analysts, as well as rules requiring certain disclosures in research reports and public appearances. The course will also look at some significant disciplinary matters concerning research and conflicts of interest with the investing public.

Retirement Plans II, Second Edition [25_2]
This course is a discussion of the various types, designs and aspects of retirement plans focusing on the differences between non-qualified and qualified plans including profit sharing, money purchase, 401(k), SIMPLE and defined benefit plans and retirement plan design. The course includes IRS requirements for highly compensated employees, the ACP and ADP tests, top heavy plans and minimum coverage. Fiduciary responsibilities are defined and explained. Special focus is given to plan distributions. May qualify for insurance or professional designation continuing education credit.

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V. Investment Advisor

Sale of Variable Annuities to Seniors [1903]
This course reviews the characteristics of annuities that bear upon their suitability for seniors; compares an investment in a variable annuity to an investment in mutual funds; risks associated with variable annuities and the suitability issues applicable to seniors; common sales pitches used for variable annuities and the facts that must be included in any presentation. Registered representatives need to exercise particular care in the sale of variable annuities to seniors to assure that such sales withstand scrutiny by the regulators. May qualify for insurance or professional designation continuing education credit.

Section 529 Plans [529]
This course covers the advantages of Section 529 Plans (a popular vehicle for funding a child’s college education), how to use them, rules for contributions and qualified withdrawals, tax benefits, coordination with other tax-favored plans and the impact of recent tax legislation. May qualify for insurance or professional designation continuing education credit.

Securities Regulatory Essentials for Financial Professionals [40G]
This triple course discusses suitability (types of risk and their application to various types of products); business conduct; and handling customer accounts.

Short Sales [05Mini_ShortSales]
This course will teach the student to explain the price tests for short sales; identify the negative effects of naked short selling and understand Regulation SHO’s requirement that securities must be “located”. The student will also be able to define “threshold” securities and the marking requirements for securities under Regulation SHO.

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2007 Course Catalog V. Investment Advisor

Suitability Concept, Series 6 Edition, Understanding the [39_S6]
This course addresses the suitability and risk issues inherent in a wide variety of investment products. The salient features of each product and their suitability profiles are covered. This course emphasizes the disclosure requirements for each product. May qualify for insurance or professional designation continuing education credit.

Suitability Concept, Series 7 Edition, Understanding the [39_S7]
This course addresses the suitability and risk issues inherent in a wide variety of investment products, with a focus on the products most commonly offered by financial services firms. The salient features of each product and their suitability profiles are discussed. This course emphasizes the disclosure requirements for each product. May qualify for insurance or professional designation continuing education credit.

Supervision II, Retail [22AR]
This course discusses “real life” issues confronting supervisors, training them to spot problems and pitfalls to avoid customer litigation and regulatory inquiries. Covers the hiring process, day-to-day supervision, long-term supervision, broker and customer terminations and effective utilization of support staff.

Supervisor Update on Mutual Fund Sales Practices [2201]
This course discusses breakpoints, Mutual Fund Class B Shares, market timing, late trading, compensation issues, improved mutual fund disclosure and hedge funds.

Taxation of Life Insurance Products, Second Edition [37_2]
This course covers various taxation issues affecting life insurance products including a discussion of the basic tax rules governing life insurance and how policies are structured to achieve the tax advantages of owning life insurance. Structuring life insurance trusts, taxation of premiums, insurance proceeds and the requirements for section 1035 exchanges are covered. May qualify for insurance or professional designation continuing education credit.

U S Government Debt [3]
This course discusses government agencies issuing securities, the mechanics of trading in U.S. Government securities, risk factors associated with U.S. Government securities, suitability and other regulatory requirements. Some of the U.S. Government debt instruments discussed are T-bills, T-bonds, T-notes, repurchase agreements, zero coupon bonds, stripped securities and GNMAs. May qualify for insurance or professional designation continuing education credit.

Unit Investment Trusts [05Mini_UIT]
This course discusses the valuable role that Unit Investment Trusts (UITs) can play in an individual investor’s portfolio, while also pointing out the tax, redemption and other risks that often make UIT securities an unsuitable investment.

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Unit Investment Trusts [11]
This course defines what constitutes a “unit investment trust” and examines the advantages to investors of these instruments, including diversification and professional management. The role of the sponsor of unit investment trusts is considered, as are the functions of the trustee. The course also reviews the characteristics of these instruments and describes their underwriting. Risks presented by unit investment trusts and the regulatory requirements relating to these instruments, including suitability, are discussed. May qualify for insurance or professional designation continuing education credit.

Variable Annuities and Their Suitability [52]
This course compares a fixed annuity to a variable annuity and reviews the basic characteristics of a variable annuity and the various premium payment methods, distribution methods, costs and types of death benefits. A comparison of variable annuities to mutual funds is provided, along with the two-step suitability analysis and each of the factors identified by NASD as relevant in determining whether a variable annuity is suitable for a particular customer. Provides tools to assist with financial planning through variable annuities, using practical examples to illustrate the planning process with clients having various financial circumstances. May qualify for insurance or professional designation continuing education credit.

Variable Annuities in Tax Advantaged Accounts [1901]
This course will assist registered personnel in carrying out their responsibilities regarding the sale and marketing of variable annuities by reviewing the comparative tax advantages of “qualified” accounts and variable annuities. Also discussed are the principles that registered representatives must consider regarding tax advantaged accounts and annuities, examination of 403(b) accounts; and covering the suitability requirement and “best practices” guidance regarding sales of variable annuities. May qualify for insurance or professional designation continuing education credit.

Variable Annuities, Advanced [19A]
This course analyzes various features of products that may be selected and how they operate. Suitability, risk, other sales practices and the NASD rules specifically applicable to customer communications about variable annuities are discussed. Tax treatment of variable annuities is reviewed both from the perspective of qualified versus non-qualified annuities and from the perspective of the client. May qualify for insurance or professional designation continuing education credit.

Variable Life Insurance [48]
This course includes the following key topics: general and separate accounts; cash value; death benefit; loans, withdrawals and surrenders; dividends; and common policy provisions, risks, tax consequences and the applicable regulations. The course highlights the advantages/ disadvantages and suitability concerns associated with variable life. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog V. Investment Advisor

Variable Products, Suitability of [32]
This course discusses the nature, benefits and risks of variable insurance, variable annuity products, variable life, variable universal life, variable annuities and mutual funds. The important features of each of these products are explained in detail. It compares and contrasts mutual fund and variable annuity investments. Suitability concerns for recommendations of various products are addressed. An appendix is included as an easy-to-reference guide to the types of equity, fixed income, mixed objective and balanced portfolio funds. May qualify for insurance or professional designation continuing education credit.

Variable Universal Life Insurance [34]
This course discusses the elements of a variable universal life (VUL) insurance product and compares VUL to variable life and universal life policies, assesses the VUL product’s advantages/ disadvantages for the client, the concept of risk tolerance as it applies to the VUL client and specific suitability considerations affecting VUL sales. Also covered are the regulatory environment and ethical issues affecting sales of VUL policies. May qualify for insurance or professional designation continuing education credit.

Wrap Accounts [17]
This course describes the services provided by a wrap account, including asset investment services, portfolio management and execution services. The advantages/disadvantages of wrap accounts are discussed, as are regulatory requirements such as the wrap account brochure. Suitability and other regulatory concerns for wrap accounts are considered. Mutual fund asset allocation programs are described, as well as risk factors associated with such accounts. May qualify for insurance or professional designation continuing education credit.

412(i) Plans [eLI412]
This course presents how defined benefit plans offer the triple advantages of security, larger benefits to the company principals and simple, low-cost administration. The study materials explain how contributions to 412(i) plans are made, the advantages/disadvantages and the rules for plan qualification and distributions. May qualify for insurance or professional designation continuing education credit.

Advanced 403(b) Plans [eLIA403]
This course explains tax advantages, eligible employers and participants, permitted investments, calculations of maximum contributions and deferrals, taxation of contributions, excess contributions and deferrals, distributions and special rules for church plans. May qualify for insurance or professional designation continuing education credit.

Anti-Money Laundering Compliance, Advanced Concepts in [eLIACA]
This course covers the new regulations issued by NASD, the current obligations of financial institutions under the USA PATRIOT Act and the “red flags” that require due diligence. It expands on the fundamental anti-money laundering concepts explained in our introductory course. May qualify for insurance or professional designation continuing education credit.

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Asset Allocation Strategies [eLIAAS]
This course provides an overview of asset allocation. There is a discussion on how to diversify a portfolio among the three asset categories and the five basic portfolios used in asset allocation. Case studies are included. May qualify for insurance or professional designation continuing education credit.

Brokered CDs [eLIBCD]
This course covers the characteristics of brokered CDs and how they differ from traditional CDs. It discusses the role of call features, early withdrawal rights, negotiation of interest rates and the secondary market. Types of risk and suitability issues of brokered CDs are discussed, as well as NASD requirements regarding training, disclosures and sales practices. May qualify for insurance or professional designation continuing education credit.

Building a College Education Fund [eLIBCE]
This course reviews the various methods that may be used for college savings, provides a complete explanation of state-sponsored Section 529 Plans and demystifies the rules for obtaining financial aid. May qualify for insurance or professional designation continuing education credit.

Business Conduct [eLIBC]
This course describes accepted and prohibited conduct in specific areas of registered representative activities. It begins with the rules pertaining to private securities transactions, then covers outside business activities, compensation and loans to and from customers. Sections include conflicts of interest, potentially illegal situations, currency transactions and related reporting requirements.

Certificates of Deposit [eLICD]
This course describes the regulatory requirements for traditional certificates of deposit (CD) and brokered CDs. It explains the various types of CDs and interest payments, general rules regarding an investor’s access to funds, redemption rules and early withdrawal penalties. The tutorial discusses the callable CD, client suitability and risks associated with different types of CDs, their taxation and the impact of FDIC insurance coverage. May qualify for insurance or professional designation continuing education credit.

Collateralized Mortgage Obligations [eLICMO]
This course discusses mortgage-backed securities and specifically examines collateralized mortgage obligations (CMOs). There is a focus on bonds that comprise the CMO, how payments made on the underlying mortgages are distributed, guarantees and risks involved in CMO investments and their tax treatment. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog V. Investment Advisor

Communications with the Public [eLICP]
This course discusses communications with the public, from the initial approach to the handling of complaints. NASD requirements are explained, including special rules relating to variable products. Requirements for the electronic delivery of information and telemarketing are examined. Reporting, filing and settling of complaints with NASD is reviewed in detail.

Custody of Funds [89]
This course focuses on the impact of the amendments to the custody rule under the Investment Advisers Act of 1940. Included are custodial practices and the requirement for advisers that have custody of client funds or securities to maintain those assets with broker-dealers, banks or other qualified custodians. The course also reviews the definition of “custody” and illustrates circumstances under which an adviser has custody of client funds or securities.

Direct Participation Plans [92]
This course examines the nature of Direct Participation Programs (DPP) and their important suitability requirements. Upon completion of the course, the student should be able to identify the due diligence required to ensure an appropriate understanding of a direct participation program and the information required to perform a customer-specific suitability analysis with respect to recommending a DPP. Features, risks and rewards of investing in DPPs, principal types of DPPs and their tax advantages are also covered.

Do Not Call Registry Guidelines [84]
This course is dedicated to delineating what is and is not acceptable in the telemarketing and sales arenas.

Economic Growth and Tax Relief Reconciliation Act of 2001, The [56]
This course covers individual income tax rate reductions and other income tax relief, changes relating to IRAs and pension plans and the new estate and gift tax provisions. Designed for registered representatives who are seeking a general education regarding the new tax act to better assist their clients. May qualify for insurance or professional designation continuing education credit.

Economic Growth and Tax Relief Reconciliation Act of 2001, The [eLITRR]
This course explains the main provisions in the monumental Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001 as amended by the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) of 2003. It focuses on the critical changes involving income, estate and gift tax, retirement planning, the implications for individuals, and the opportunities and pitfalls facing financial service professionals over the next decade. May qualify for insurance or professional designation continuing education credit.

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V. Investment Advisor

Electronic Communications [eLIEC]
This course reviews NASD conduct rules which affect a registered representative’s use of electronic communications. There is a discussion about what is permitted, which forms of electronic communication need approval from NASD and examples of regulatory concerns.

Electronic Communications, Institutional Edition [73INST]
This course provides a complete guide to all forms of electronic communication. SEC and SRO guidance on the proper use of electronic communications, including NASD’s recent Notice to Members regarding instant messaging, is included. The application of the rules for advertising, sales literature and correspondence, including the new amendments to NASD Rule 2210, web sites, chat rooms, message boards and e-mail are covered. Content rules, rules for electronic delivery of documents, applicable SEC books and records are discussed.

Equity Index Products [eLIEIP]
This course examines the equity index concept and its two primary products: equity index annuities and equity index universal life insurance. Presents the methods of interest crediting, explains how equity index annuities work, distinguishes equity index universal life (UL) from declared rate UL insurance and discusses the suitability issues of each. The final sections list common supervisory deficiencies and discuss safe harbor against failure to supervise. May qualify for insurance or professional designation continuing education credit.

Ethical Conduct in the Financial Services Practice [eLIETH]
This course covers the definition of “ethics” as it applies to the financial services practitioner, the tools used, the process employed, an analysis of unethical and illegal practices, a listing of misleading terms to avoid and explains the company’s need to supervise the actions of its agents and registered representatives. Appropriate for all agents, registered representatives and other financial services practitioners, whether newly in the business or established “veterans,” who want to develop an ethics-centered practice. Case studies are the basis of section reviews and lesson tests. May qualify for insurance or professional designation continuing education credit.

Ethics for the Futures Industry [800]
This course covers ethical standards and industry rules applicable to obtaining and assessing the financial and investment experience of customers; making disclosure of material information in dealings with customers; avoiding conflicts of interest and, when they cannot be avoided, making appropriate disclosure to customers and obtaining requisite authorization to continue handling the customer’s business (if permitted under the Commodity Exchange Act of CFTC rules); and establishing effective supervisory systems and internal controls.

Exchanges and the OTC Market, The [eLIEX]
This course provides a basic understanding of the securities and bond secondary market via the stock exchanges and the OTC market. It discusses the types of traders, their duties and requirements. Stock price averages and stock price indices are also defined. Includes a step-bystep guideline for reading stock and bond quotations.

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2007 Course Catalog V. Investment Advisor

Federal Securities Rules and Regulations [eLIFRR]
This course covers the major federal acts and regulations governing the securities industry. It begins by covering the main purposes of and the requirements engendered by the Securities Act of 1933, the Securities Exchange Act of 1934 and Regulation T. Examination of the Investment Company Act and Investment Advisers Act of 1940 leads to a discussion of types of investment companies and who must and need not register as an investment adviser. The section on the Securities Investor Protection Act reviews customer coverage limits; a longer section examines the Insider Trading and Securities Fraud Enforcement Act of 1988, discussing insider trading and its prevention via Chinese walls. The final section takes a brief look at SEC rules governing advertising and sales literature.

Fee Based Accounts [90]
This course addresses fee-based accounts and includes topics such as: distinctions between a fee-based brokerage account and a fee-based advisory account; the considerations that representatives must discuss with their clients in connection with their decision regarding feebased accounts; disclosures; regulatory restrictions; and issues the SEC and NASD have identified regarding fee-based accounts.

General Suitability Issues [eLIGSI]
This course provides students with a basic background of suitability requirements relating to investment products. There is a discussion of the suitability rules and elements contained in the customer profile and explanations of risk factors that have an impact on suitability considerations. May qualify for insurance or professional designation continuing education credit.

Government Securities [eLIGS]
This course explains debt securities issued at the federal, state and local levels, the types of securities available and tax treatments of each. May qualify for insurance or professional designation continuing education credit.

Individual Retirement Accounts [eLIIRA]
This course reviews the current rules for traditional, Roth, and education IRAs regarding eligibility, contribution limits, deductibility of contributions and the rules for and taxation of withdrawals, and identifying changes resulting from the Economic Growth and Tax Relief Reconciliation Act of 2001. Included are sections on the rules for converting a traditional IRA to a Roth IRA; rollovers from a qualified plan to a traditional IRA; and an overview of the 2001 Department of Treasury regulations that liberalized the rules for minimum required distributions. May qualify for insurance or professional designation continuing education credit.

Insider Trading [eLIINT]
This course describes information the insider trading rules cover and who is covered by the rules. There is a discussion of who enforces the rules and the nature of liability arising from illegal insider trading. The course ends with a discussion of the role and practices of compliance departments in regard to insider trading. May qualify for insurance or professional designation continuing education credit. 72

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Investment Adviser Electronic Communications [7301]
This course reviews the obligations of investment advisers regarding the creation, processing and retention of electronic communications. Among the topics are: categories of electronic communications that investment advisers must preserve; guidelines for the creation and processing by investment advisers of electronic correspondence; and compliance practices investment advisers commonly adopt in response to applicable regulations.

Investment Adviser Update 2005 [87]
This course reviews the investment objectives of an investment adviser, identifies risk factors associated with investment advisory products and explains the suitability of such products for investors. The course delineates the applicable regulatory requirements that affect the firm’s products or services and includes segments dedicated to providing investment advice to seniors, custody of funds and the recent requirement that advisers to certain private investment pools (hedge funds) register with the Commission under the Advisers Act.

Investment Advisers [30]
This course focuses on conflict of interest provisions and the role fiduciary duties play in the activities of investment advisers. The suitability concept is examined with respect to advice rendered by investment advisers. Other regulatory requirements are addressed, including performance fees, investment adviser brochures and the use of performance results in advertising. May qualify for insurance or professional designation continuing education credit.

Investment Advisers II [30A]
This course covers compliance issues and practical problems frequently encountered by dually licensed registered representatives and investment advisers, and examines areas of current regulatory focus. May qualify for insurance or professional designation continuing education credit.

Investment Products, An Overview of [eLIIVP]
This course discusses investment objectives, ways to handle risks and various types of investments, including stocks, bonds and mutual funds.

IRA, SEP and Keogh Plans [eLIISK]
This course explains how IRA, SEP and Keogh plans are used to establish personal retirement funds, eligibility requirements and the tax treatment of the plans, distribution options and the methods of funding. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog V. Investment Advisor

Jobs and Growth Tax Relief Reconciliation Act of 2003, The [JGTR]
This course covers the key provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA), designed to stimulate the economy with resulting tax savings for both individuals and businesses and how it creates tax planning opportunities for investors. Although JGTRRA accelerates several tax breaks originally included in the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), certain provisions are subject to phase-outs and sunsets. May qualify for insurance or professional designation continuing education credit.

Keogh Plans [eLIKP]
This course explores how Keogh plans provide retirement funds for self-employed individuals and their employees. Topics include plan requirements and eligibility; defined contribution and defined benefit plans; Social Security integration; top-heavy restrictions; the taxation of distributions; and several investment alternatives, including life insurance. May qualify for insurance or professional designation continuing education credit.

Margin Accounts [eLIMA]
This course provides an understanding of the use of margin accounts in securities trading, fundamentals of trading on margin in long and short positions, regulatory rules and maintenance requirements associated with these transactions. Detailed scenarios complement the information throughout the course. May qualify for insurance or professional designation continuing education credit.

Market Timing [81]
This course is intended to educate representatives regarding market timing and includes topics such as SEC rule amendments designed to impede market timing; how to identify illegal market timing practices, thus avoiding sanctions; and the impact of measures such as the two percent redemption fee on the redemption of shares purchased within the previous five days to further prevent unfair market timing.

Money Laundering [eLIML]
This course provides in-depth coverage of this issue, including information on anti-money laundering systems, evolving inter-governmental regulations and recent recommendations forged by the Financial Action Task Force (FATF) on money laundering. May qualify for insurance or professional designation continuing education credit.

Multiclass Shares [eLIMC]
This course describes how multiple share classes are used to finance the sales charges on mutual fund purchases in order to meet different investor needs. The factors to consider when matching client needs to the appropriate share class are covered. May qualify for insurance or professional designation continuing education credit.

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Municipal Bonds [eLIMB]
This course reviews what municipal bonds are and how they are issued. There is a discussion about the various types of municipal bonds, their mechanics, how they were introduced into the marketplace and how to determine investor suitability. There is a brief discussion of municipal bond regulation. May qualify for insurance or professional designation continuing education credit.

Mutual Fund Breakpoints [eLIMFBP]
This course covers the basic principles of mutual fund breakpoints, the procedures used for customer accounts and the ethical and legal underpinnings for broker-dealers and financial services practitioners. Also covers NASD compliance requirements in the wake of several highly publicized investigations.

Mutual Funds [9]
This course examines the history of mutual funds and the development of their regulation. The nature of investment companies and the differences between closed-end and open-end investment companies are discussed. The course also covers investment objectives of mutual funds, risk factors, money market funds, suitability of mutual funds for investors, NASD and other regulatory requirements for these funds. May qualify for insurance or professional designation continuing education credit.

Mutual Funds [eLIMF]
This course covers the legal structure and operation of a mutual fund, including the role of the investment advisor and other key players. Sales charges, redemption fees, costs, net asset value, dividends, capital gains, losses, taxation issues upon sale and factors to consider when choosing a mutual fund are discussed. May qualify for insurance or professional designation continuing education credit.

Mutual Funds, Advanced [9A]
This course examines the growth of mutual funds, regulatory concerns and suitability issues. This second-level course reviews the differing objectives of mutual funds, examines recent concerns expressed by the NASD in the sale of mutual funds and describes particular regulatory requirements. May qualify for insurance or professional designation continuing education credit.

Mutual Funds, Suitability Issues of [eLISMF]
This course discusses suitability issues with respect to the sale and purchase of mutual funds. There is an emphasis on the importance of knowing your prospect and the fund you are offering, fund structures, different classes of shares, exchanges, risks and taxation. Students consider the special situations of institutional and elderly customers and bank-affiliated broker-dealers. In addition, the requirements of suitability with respect to electronic communications that are deemed recommendations are considered. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog V. Investment Advisor

NASD Issues and Concerns Regarding Bonds and Bond Funds [76]
This course focuses solely on various bond types that include: fixed rate debt securities, taxable and non-taxable bonds, corporate, municipal and asset-backed bonds and bond funds. Also discusses NASD’s Notice to Members reminding firms of their obligation to adequately train and supervise employees who sell bonds.

NASD Rules and Regulations [eLINRR]
This course covers the organization and purpose of NASD, Conduct Rules, Code of Procedure and Code of Arbitration Procedure.

New and Secondary Offerings [eLINSO]
This course covers SEC registration and prospectus requirements for public offerings. It covers the SIPC, protection it provides, penny stock rules, transactions which are exempt from disclosure rules and the required disclosures to customers. Penny stock risks and important points, such as the spread, the number of dealers in the stock and issues related to IPO’s, are also covered.

OFAC [80]
This course is an introduction to the Office of Foreign Asset Control Compliance. It defines OFAC’s purpose, outlining the OFAC regulations, procedures and penalties for non-compliance.

Online Suitability [eLIOS]
This course discusses the key issues facing financial professionals, their obligations in this environment and how the various suitability rules and “know your customer” rules apply to online services. The tutorial explains NASD guidelines for determining whether an online communication constitutes a “recommendation” under Notice 01-23. May qualify for insurance or professional designation continuing education credit.

Options Trading [eLIOPT]
This course provides a comprehensive survey of the concepts and strategies of options trading, examines the various options and any special risks associated with each. This includes equity options, stock index options and a range of non-equity options, such as interest rate options, foreign currency options, futures options and flexibly structured options. May qualify for insurance or professional designation continuing education credit.

Pension Basics [eLIPB]
This course covers the basic concepts underlying pension plans and explains basic requirements and regulations governing pension plans, the types of plans available and plan funding. One lesson consists of case studies used to apply these concepts and requirements to differing needs and situations. May qualify for insurance or professional designation continuing education credit.

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Private Placements [78]
This course is designed to identify the role of private placements in raising capital for business growth, explains the various exceptions to registration under the 1933 Act that allow for private placements and discusses the private placement process.

Registration and Reporting Issues [eLIRRI]
This course discusses registration and regulation in the securities industry and covers the registrations required of broker-dealers, registered representatives and investment advisers. Included is a brief overview of regulation in the securities industry, major acts passed by the federal government, NASD and its jurisdiction and state blue-sky laws.

Retirement Distributions, Planning for [eLIPRD]
This course covers the essential aspects of retirement distributions planning. Topics include various sources of retirement income, tax ramifications, legal requirements, limitations and opportunities associated with retirement plan choices and estate planning considerations. Practical strategies are offered to address five common client scenarios. May qualify for insurance or professional designation continuing education credit.

Retirement Plan Rollovers [eLIRPR]
This course covers the critical aspects of rollovers, rollovers from qualified retirement plans and IRAs as well as the key changes under the Economic Growth and Tax Reconciliation Relief Act (EGTRRA) of 2001. The information included in this course is especially valuable to high net worth clients. May qualify for insurance or professional designation continuing education credit.

Senior Protection in Annuity Transactions [91]
This course incorporates all of the guidelines contained in the NAIC model regulation and is designed to guide licensed representatives in appropriate processes and procedures when selling annuity products to seniors. May qualify for insurance or professional designation continuing education credit.

Separate Accounts and Variable Products [eLISAVP]
This course presents the basics of general accounts and separate accounts and discusses the economic factors leading to the creation of separate accounts that are designed to serve the needs of individual customers, as well as pension managers. There is a review of the types of separate accounts, their restructuring and regulation and an introduction to types of products supported by separate accounts. May qualify for insurance or professional designation continuing education credit.

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Simplified Employee Pension Plans [eLISEP]
This course introduces Simplified Employee Pension (SEP) plans and SIMPLE plans as alternatives to other tax-qualified retirement plans that must meet complex reporting requirements. Topics include requirements, contributions and funding, distributions and tax-free transfers. Social Security integration and top-heavy plans for SEPs. May qualify for insurance or professional designation continuing education credit.

Suitability Issues, Advanced [eLIADS]
This course provides an in-depth discussion about suitability rules and regulations. It examines the financial and personal factors that registered representatives must consider in determining the suitability of products for specific customers, reviews the relationship between risk and suitability, and the suitability issues of mutual funds and variable products. May qualify for insurance or professional designation continuing education credit.

Tax-Favored College Savings Plans [eLITFC]
This course reviews popular savings arrangements ranging from simple gifts of incomeproducing assets to sophisticated arrangements involving trusts and family limited partnerships. Also covered are Coverdell ESAs and Section 529 Plans, as well as traditional savings vehicles such as mutual funds, annuities and other types of securities. May qualify for insurance or professional designation continuing education credit.

Tax-Qualified Plans [eLITQP]
This course explains the benefits and requirements of tax-qualified plans, including the ERISA rules and regulations. In addition to corporate pension and profit-sharing plans, it discusses alternative forms of retirement plans such as traditional and Roth IRAs, Coverdell Education Savings Accounts (ESAs), SEPs and SIMPLE accounts, Keogh plans, tax-sheltered annuities and 401(k) plans. May qualify for insurance or professional designation continuing education credit.

Today’s Insurance Professional [IP1]
This course is designed to be a comprehensive learning tool that extensively covers the topics of life insurance, annuities, mutual funds, ethics and market conduct, suitability requirements, regulation of communications, asset allocation, retirement plans, estate planning, the GrammLeach-Bliley Act, the Investment Advisor’s Act, money laundering and Tax Relief 2001. Licensed agents will learn how to deal with new concepts, new products and new lines of business. May qualify for insurance or professional designation continuing education credit.

Universal Life Insurance [eLIUL]
This course summarizes the important fundamental principles of variable life insurance. Key topics include: general and separate accounts; cash value; death benefit; loans, withdrawals and surrenders; dividends; and common policy provisions. In-depth discussions of risks, tax consequences, applicable regulations, advantages/disadvantages, as well as suitability concerns associated with variable life are provided. May qualify for insurance or professional designation continuing education credit.

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V. Investment Advisor

Variable Annuities, Suitability Issues of [eLISVA]
This course covers the principal suitability issues related to variable annuities. After describing the product, the lesson discusses factors registered representatives should consider when recommending variable annuities and steps they may take to protect themselves from unsuitability claims. Also introduces the client profile and its relationship to the determination of suitability. May qualify for insurance or professional designation continuing education credit.

Variable Life Insurance, An Overview of [eLIOVL]
This course explains variable life and variable universal life insurance. Highlights include variable universal life with respect to its combined features of universal life insurance and investment products. A large portion of the course covers the separate account, what it is and how it functions in variable universal life insurance. May qualify for insurance or professional designation continuing education credit.

Variable Life Insurance, Suitability Issues of [eLISVL]
This course discusses the fundamental needs and concerns of variable life insurance prospects and provides the student with a basic understanding and appreciation of the risks and potential rewards associated with this product and problems that can arise from failing to fully disclose all of the relevant facts. There is an explanation of specific actions the registered representative can take to avoid claims of unsuitability, factors to consider regarding replacements, illustrations and client presentations. Suitability issues with respect to variable sub account selection are raised as part of a discussion of the types of sub accounts available. May qualify for insurance or professional designation continuing education credit.

Variable Universal Life Insurance [eLIVUL]
This course compares Variable Universal Life (VUL) to variable life and universal life policies, and assesses the VUL product’s advantages/disadvantages. Also covers the concept of risk tolerance as it applies to the VUL client, specific suitability considerations affecting VUL sales, regulatory environment and ethical issues affecting sales of VUL policies. May qualify for insurance or professional designation continuing education credit.

Wrap Fee Programs [eLIWFP]
This course explains the fundamentals of the two basic types of wrap fee accounts: mutual fund and separate account wrap fee programs. Each program is explained in detail with respect to features and benefits, typical fees and expenses, account opening forms and client reporting. The course also offers an understanding of the regulation and government of wrap fee programs, their history and role in the marketplace and recent trends. Appropriate sales situations are discussed for each type of program. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog V. Investment Advisor

Financial Aid Strategies for College [eLIFAS]
This course demonstrates strategies in obtaining and maximizing college financial aid. It demystifies the application process and corrects common misconceptions regarding income and assets in relation to financial aid. The course explains various types of aid available and the so-called “federal methodology”, the most widely used formula for calculating a family’s financial need. May qualify for insurance or professional designation continuing education credit.

Investment Factors, Objectives and Risks [eLIIF]
This course provides the student with a detailed discussion of general investment factors, investment objectives and the elements of risk. May qualify for insurance or professional designation continuing education credit.

Private Securities Transactions and Selling away [05Mini_PTSA]
This course is designed to make the student familiar with NASD Rule 3040; types of transactions that constitute “private securities transactions”; the requirements that the firm make a prior review and provide prior consent to any private securities transaction; and conduct that constitutes “selling away”.

Alternative Investments: Asset Backed Securities [05Mini_AltInv]
This course discusses Asset-backed Securities (securities that are backed by a discrete pool of self-liquidating financial assets), and SEC regulations finalized in December 2004.

Annuities [eLIANN]
This course covers annuity concepts, taxation of annuity products, product profiles and annuity sales applications. Appropriate for agents who are moving into the annuity market or who are already in the market and desire to increase their basic knowledge of the product. May qualify for insurance or professional designation continuing education credit.

Annuities, An Overview of [eLIOA]
This course provides an overview of annuities and explains how they differ from life insurance. Fixed, variable and equity-indexed annuities are discussed. The accumulation and payout phases, taxation, settlement options and the types of annuity contracts are reviewed. May qualify for insurance or professional designation continuing education credit.

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V. Investment Advisor

Anti-Money Laundering [05Mini_AML]
This course reviews the highlights and current developments with regard to the prevention and detection of money laundering. It covers the more significant developments that occurred in 2004 that are likely to affect personnel within the securities industry, including valuable guidance provided by regulators pertaining to anti-money laundering.

Anti-Money Laundering Compliance, Advanced Concepts in [eLIACA]
This course covers regulations issued by NASD, current obligations of financial institutions under the USA PATRIOT Act and the “red flags” that require due diligence. It expands on the fundamental anti-money laundering concepts explained in our introductory course. May qualify for insurance or professional designation continuing education credit.

Anti-Money Laundering Update Year 2003, Second Edition [35AU03_2]
This course provides a general background in the area of money laundering avoidance, acquaints the student with the provisions of the federal anti-money laundering statutes, reporting and record keeping requirements under the Bank Secrecy Act. The student will become familiar with requirements for anti-money laundering compliance programs and the requirements of customer identification procedures; provide information on responsibilities on certain foreign accounts; mechanisms for sharing information with law enforcement and introduce you to OFAC directives and your firm’s compliance responsibilities with regard to those directives.

Anti-Money Laundering Update Year 2004 [35AU04]
This course reviews the rules under the USA PATRIOT Act which require broker-dealers and certain other financial institutions to provide their personnel with anti-money laundering training on at least an annual basis to cover developments in the area of money laundering and terrorist finance avoidance over the preceding year. May qualify for insurance or professional designation continuing education credit.

Anti-Money Laundering Update Year 2004 [35AU04]
This course is designed to provide an overview of developments in the area of money laundering and terrorist finance avoidance over the preceding year. May qualify for insurance or professional designation continuing education credit.

Anti-Money Laundering Update Year 2005 [35AU05]
This course is an annual update of new regulations, regulatory proposals and developments affecting Anti-Money Laundering (AML) efforts of broker-dealers and their personnel. This course is designed to provide an overview of developments in the area of money laundering and terrorist finance avoidance over the preceding year.

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2007 Course Catalog V. Investment Advisor

Asset Allocation Strategies [eLIAAS]
This course provides an overview of asset allocation. There is a discussion on how to diversify a portfolio among the three asset categories and the five basic portfolios used in asset allocation. Case studies are included. May qualify for insurance or professional designation continuing education credit.

Asset Allocation, Principles of [46]
This course provides an overview of the basics in account management and client services, fundamental principles of asset allocation and risk assessment, tools that are critical for salespersons to master in order to properly service their client base and help them manage increasingly volatile markets. May qualify for insurance or professional designation continuing education credit.

Asset-Backed Debt [16]
This course reviews the role of the Collaterized Mortgage Obligations (CMO) as a debt instrument. The distinctions between pass-through securities and these instruments are reviewed. Variations in CMOs, regulatory requirements and suitability concerns for CMOs are also considered, as well as credit card and other cash flow sources that have been sold as assetbacked instruments. May qualify for insurance or professional designation continuing education credit.

Asset-Backed Securities [86]
This course outlines proposed new rules; consolidates existing interpretive positions that allow modified Exchange Act reporting that is more relevant to asset-backed securities; provides guidance and requirements for filings; streamlines existing interpretive positions that permit the use of written communications in a registered offering of asset-backed securities in addition to the statutory registration statement prospectus.

Bank Secrecy Act Reporting Requirements [3504]
This course provides an overview of the various stages of money laundering and explains Anti-Money Laundering regulation, Currency Transaction Reports (CTRs) and other transaction reports required under the Bank Secrecy Act (BSA). The course also describes Suspicious Activity Reports (SARs) and activities, timing, requirements and practical implications associated with them.

Brokered CDs [eLIBCD]
This course covers the characteristics of brokered CDs and how they differ from traditional CDs. It discusses the role of call features, early withdrawal rights, negotiation of interest rates and the secondary market. Types of risk and suitability issues of brokered CDs are discussed, as well as NASD requirements regarding training, disclosures and sales practices. May qualify for insurance or professional designation continuing education credit.

82

V. Investment Advisor

Brokered Certificates of Deposit [10A]
This course provides financial services professionals with an overview of pertinent features and issues concerning brokered CDs. It discusses special features that are now available in these products and some of the unique regulatory and customer protection issues attendant to them. This includes implications of brokered CDs being securities, FDIC pass-through insurance, the existence and features of a secondary market, various types of CDs and their features, as well as due diligence, suitability and disclosure considerations. May qualify for insurance or professional designation continuing education credit.

Business Conduct [eLIBC]
This course describes accepted and prohibited conduct in specific areas of registered representative activities. It begins with the rules pertaining to private securities transactions, then covers outside business activities, compensation and loans to and from customers. Sections include conflicts of interest, potentially illegal situations, currency transactions and related reporting requirements.

Changing Landscape of Investment Adviser Regulation, The (113)
This course addresses the role of the investment adviser, the recent SEC requirement of an ethics code, investment adviser registration issues and suitability requirements. The focus of the course is on registered investment advisers, i.e. those registered with the SEC, and the important regulatory changes that affect registered investment advisers and the way they do business.

Internal Revenue Code 1031: Nontaxable Exchanges (115)
This course considers the rules associated with tax-free like-kind exchanges of tangible property under IRC Code Section 1031. Qualification requirements for like-kind exchanges are discussed, as are the receipt of boot, the assumption of liabilities incidental to the exchange, exchanges between related parties and the recapture associated with depreciable property. May qualify for insurance or professional designation continuing education credit.

An Overview of AML Events of 2005 (3508)
Examines the specific AML events of 2005, including new or expanded regulations; FINCEN enforcement actions, and investigations by FinCEN aided by the information provided in suspicious activity report (SARs). Also covered are the AML and SAR requirements applicable to insurance companies, and the proposed requirements for annual testing of broker-dealers’ AML procedures. Concludes with a money laundering case study. May qualify for professional designation credit.

Structured Products-More Innovation, More Regulation (122)
As a result of the increased popularity of structured products, NASD issued Notice to Members 05-59 (September 2005) which provides guidance regarding the sales of structured products. This course focuses on the obligations the NASD has highlighted in NTM 05-59, so that salespersons may be in tune with regulators’ positions on structured products.

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2007 Course Catalog V. Investment Advisor

Equity Indexed Annuities-Supervision (121)
Equity Indexed Annuities have gained in popularity, in part because they offer less risk exposure than variable annuity purchases. Many firms have added EIAs to their investment choices for customers. This course examines the nature of regulatory concerns surrounding EIAs and offers guidance on the supervision of EIA sales.

84

VI. Securities
Business Conduct for Supervisors[eLIBCS]
This course alerts supervisors to the increased necessity of supervision in the area of business conduct. Part I reviews the supervisory structure, including NASD requirements and penalties, the need to recognize red flags and the need for heightened supervision of certain personnel. Part II reviews the principal types of misconduct and such violations as trading ahead, free riding and coordination.

Business Continuity Plans [05Mini_BusCon]
This course will help you understand the background of the business continuity plan (BCP) requirement; know what functions must be covered by the BCP; and know the disclosure requirements applicable to the BCP.

CDs and Money Markets [10]
This course examines the regulation of these instruments, their suitability for investors and other regulatory concerns. The advantages/disadvantages of these instruments are also examined. May qualify for insurance or professional designation continuing education credit.

Certificates of Deposit [eLICD]
This course describes the regulatory requirements for traditional certificates of deposit (CD) and brokered CDs. It explains the various types of CDs and interest payments, general rules regarding an investor’s access to funds, redemption rules and early withdrawal penalties. The tutorial discusses the callable CD, client suitability and risks associated with different types of CDs, their taxation and the impact of FDIC insurance coverage. May qualify for insurance or professional designation continuing education credit.

Collateralized Mortgage Obligations [eLICMO]
This course discusses mortgage-backed securities and specifically examines collateralized mortgage obligations (CMOs). There is a focus on bonds that comprise the CMO, how payments made on the underlying mortgages are distributed, guarantees and risks involved in CMO investments and their tax treatment. May qualify for insurance or professional designation continuing education credit.

Communications with the Public [eLICP]
This course discusses communications with the public, from the initial approach to the handling of complaints. NASD requirements are explained, including special rules relating to variable products. Requirements for the electronic delivery of information and telemarketing are examined. Reporting, filing and settling of complaints with NASD is reviewed in detail.

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2007 Course Catalog VI. Securities

Corporate Debt [2]
This course teaches the nature of corporate bonds, their underwriting requirements and the application of the Trust Indenture Act of 1939. Mechanics of bond trading, redeemable, convertible and zero coupon bonds are examined. Investment objectives of corporate bonds and the suitability issues, risk factors and regulatory requirements are reviewed. May qualify for insurance or professional designation continuing education credit.

Currency Transaction Reporting [3502]
This course provides an overview of Anti-Money Laundering (AML) regulation, to help the student understand context for and purpose of, Currency Transaction Reports (CTRs) and other AML reports. Outlines when a CTR must be filed and reviews other required transaction reports.

Custody of Funds [89]
This course focuses on the impact of the amendments to the custody rule under the Investment Advisers Act of 1940. Included are custodial practices and the requirement for advisers that have custody of client funds or securities to maintain those assets with broker-dealers, banks or other qualified custodians. The course also reviews the definition of “custody” and illustrates circumstances under which an adviser has custody of client funds or securities.

Customer Account Transfers [05Mini_CAT]
This course discusses the many reasons why a customer may transfer an account from one broker-dealer to another and the system used by broker-dealers to handle account transfers: Automated Customer Account Transfer Service (ACATS). Also discussed in the course is the Transfer Instruction Form (TIF), Nontransferable assets, how such assets are handled and how a receiving broker-dealer validates or rejects asset transfers.

Customer Accounts, Trade and Settlement Practices [eLICATS]
This course explains the handling of customer accounts and trading. Topics covered include types of accounts that may be opened in special situations, the general procedures for opening accounts and completing forms and documentation, trading of securities on margin, trading of options as they relate to accounts and account opening, Regulation T, SRO margin and short sale margin rules, payment and delivery for transactions and corrections of order errors.

Customer Arbitration and Mediation in the Securities Industry [eLICAM]
This course reviews the means for resolving disputes in the securities industry, including an examination of the roles of arbitration and mediation, how arbitration and litigation differ and tracks the steps of arbitration from arbitration agreements through hearings, awards and publication. The course discusses mediation as an alterative to arbitration and non-SRO alternatives for dispute resolutions.

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VI. Securities

Customer Communications [31]
This course discusses restrictions on Internet communications, email, fax, the use of cold call sales, “do-not-call” list requirements, requirements governing advertising and sales literature and improper solicitation techniques. Suitability concerns are also addressed. May qualify for insurance or professional designation continuing education credit.

Customer Communications II, Series 6 Edition [31A_S6]
This course provides an in-depth analysis by building on our existing Customer Communications [31] course as it relates to individuals holding a Series 6 license. It addresses the essential points of customer communications. A primary focus is on the emerging concerns arising from electronic communication and registered representatives’ access to the Internet. This course provides useful information for both registered representatives and their supervisors. May qualify for insurance or professional designation continuing education credit.

Customer Communications II, Series 7 Edition [31A_S7]
This course provides an in-depth analysis by building on our existing Customer Communications [31] course as it relates to individuals holding a Series 7 license. It addresses the essential points of customer communications. A primary focus is on the emerging concerns arising from electronic communication and registered representatives’ access to the Internet. This course provides useful information for both registered representatives and their supervisors. May qualify for insurance or professional designation continuing education credit.

Customer Disclosure: The Interagency Statement and NASD Rule 2350 [43]
This course covers the required disclosures and is essential for financial professionals involved in the banking industry. The course is extremely useful for personnel at banks and bank-affiliated broker-dealers, as it covers disclosures and behaviors necessary to ensure compliance with the Interagency Statement and NASD Rule 2350. May qualify for insurance or professional designation continuing education credit.

Customer Identification Procedures [3501]
This course delineates the important provisions of the CIP Regulations and what they are likely to mean to representatives, firms and their clients, what each firm’s CIPs must contain, when a customer’s identity must be verified, who is a customer for purposes of CIPs, acceptable ways of verifying identity and what to do if its not verifiable. A review of recordkeeping requirements of identifying information obtained and consulting terrorist lists and other steps that may need to be taken is included. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog VI. Securities

Data Retention [05Mini_DatRet]
This course reviews regulations that require broker-dealers to retain information critical to the smooth functioning of the financial system. After reading this course, the student should understand the retention requirements for many of the important records, reports, ledgers and communications that broker-dealers produce, receive and dispatch in their day-to-day operations.

Day Trading: Margin Requirements [05Mini_DayTrad]
This course discusses the regulation of margin accounts; the special margin consideration of day trading; defines the characteristics of a “pattern day trader”; explains the minimum equity requirements for pattern day traders; and describes the buying power restrictions for pattern day traders.

Direct Investments [12]
This course discusses the investment objectives of limited partnerships, their advantages/ disadvantages and tax considerations. Master limited partnerships and real estate investment trusts (“REITs”) are reviewed. Commodity pools, limited liability companies and suitability requirements are also considered. Regulatory requirements for limited partnerships, including NASD policies on markups, advertising and “roll ups,” are examined. May qualify for insurance or professional designation continuing education credit.

Direct Participation Plans [92]
This course examines the nature of Direct Participation Programs (DPP) and their important suitability requirements. Upon completion of the course, the student should be able to identify the due diligence required to ensure an appropriate understanding of a direct participation program and the information required to perform a customer-specific suitability analysis with respect to recommending a DPP. Features, risks and rewards of investing in DPPs, principal types of DPPs and their tax advantages are also covered.

Do Not Call Registry Guidelines [84]
This course is dedicated to delineating what is and is not acceptable in the telemarketing and sales arenas.

Economic Growth and Tax Relief Reconciliation Act of 2001, The [56]
This course covers individual income tax rate reductions and other income tax relief, changes relating to IRAs and pension plans and the new estate and gift tax provisions. Designed for registered representatives who are seeking a general education regarding the new tax act to better assist their clients. May qualify for insurance or professional designation continuing education credit.

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VI. Securities

Economic Growth and Tax Relief Reconciliation Act of 2001, The [eLITRR]
This course explains the main provisions in the monumental Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001 as amended by the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) of 2003. It focuses on the critical changes involving income, estate and gift tax, retirement planning, the implications for individuals, and the opportunities and pitfalls facing financial service professionals over the next decade. May qualify for insurance or professional designation continuing education credit.

Effective Supervision for General Securities Principals - Series 24 [eLIESG]
This course covers establishing and maintaining supervisory systems at member firms, as required under NASD Conduct Rule 3010. The course, an overview rather than a detailed examination, begins by discussing general guidelines for supervision and the elements of systems. This course reviews specific areas of supervision, prohibited conduct, continuing education, handling and reporting customer complaints. The final sections list common supervisory deficiencies and discuss safe harbor for failure to supervise. Case studies are the basis of section reviews.

Effective Supervision for Investment Co & Variable Contracts Principals Series 26 [eLIESI]
This course covers establishing and maintaining supervisory systems at member firms, as required under NASD Conduct Rule 3010. The course, an overview rather than a detailed examination, begins by discussing general guidelines for supervision, elements of systems, specific areas of supervision, prohibited conduct, continuing education, handling and reporting customer complaints.

Effective Supervision: Interviewing, Hiring and Terminating Registered Representatives [eLIIHT]
This course is a general discussion of supervisors’ responsibilities in hiring and retaining registered representatives and includes an examination of interviewing, supervision after hiring, heightened supervision, continuing education, consequences of failing to supervise and safe harbor and prohibited practices. The final section discusses considerations in terminating registered representatives.

Electronic Communications [73]
This course provides a complete guide to all forms of electronic communication. SEC and SRO guidance on the proper use of electronic communications, including NASD’s Notice to Members regarding instant messaging, is included. The application of the rules for advertising, sales literature and correspondence, including the new amendments to NASD Rule 2210, web sites, chat rooms, message boards and e-mail are covered. Content rules, rules for electronic delivery of documents, applicable SEC books and records are discussed. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog VI. Securities

Electronic Communications [eLIEC]
This course reviews NASD conduct rules, which affect a registered representative’s use of electronic communications. There is a discussion about what is permitted, which forms of electronic communication need approval from NASD and examples of regulatory concerns.

Emerging Markets [21_2]
This course is an overview of emerging markets beginning with a definition and moving into special risk factors, investment objectives, suitability concerns for emerging market equities, emerging market debt, emerging market funds and American Depository Receipts. May qualify for insurance or professional designation continuing education credit.

Equity Index Products [eLIEIP]
This course examines the equity index concept and its two primary products: equity index annuities and equity index universal life insurance. Presents the methods of interest crediting, explains how equity index annuities work, distinguishes equity index universal life (UL) from declared rate UL insurance and discusses the suitability issues of each. The final sections list common supervisory deficiencies and discuss safe harbor against failure to supervise. May qualify for insurance or professional designation continuing education credit.

Equity Indexed Annuities [93]
This course examines the nature of equity indexed annuity contracts and considers their important suitability requirements. Equity indexed annuities are “fixed”; they offer contract owners a guarantee that their principal won’t be lost and that they will receive interest at no less than a specified guaranteed rate. May qualify for insurance or professional designation continuing education credit.

Ethics [20]
This course describes the role of regulation and its guidance of ethical standards in the industry, regulatory structure and role of self-regulation in establishing ethical standards and regulatory standards. General ethical and legal considerations applicable to the handling of customer accounts, suitability information, dealing with unsophisticated customers, making disclosures to customers and avoiding abuses are reviewed. May qualify for insurance or professional designation continuing education credit.

Ethics for Investment Banking Personnel [20J]
This course discusses the types of confidential information frequently obtained by investment bankers and the high potential for abuse of this information; and the types of situations that cause ethical dilemmas for investment banking personnel.

90

VI. Securities

Code of Conduct-Daily Ethical Dilemmas [20I]
This course reviews ethics for non-registered representatives and stresses the importance of ethics and ethical decisions by providing the student with a Company Code of Ethics and eight different scenarios where an ethical decision must be made. Scenarios include per diem expense reports, record retention-including electronic communications, disclosure issues, insider trading decisions, discrimination in the workplace, record keeping, combining business and friendship and violation ramifications.

Ethics II, Second Edition [20A_2]
This course teaches the duty of loyalty owed by the broker to the firm, the broker’s clients and the marketplace, the evolution of the ‘Prudent Man Rule’ and regulatory and firm requirements and their application to ethical standards. May qualify for insurance or professional designation continuing education credit.

Ethics III, Case Studies in Ethics and Suitability [20B]
This course presents ethical dilemmas via case studies. The case study method is used to present ethical dilemmas and how to avoid them. Geared to those engaged in the sale of financial products and services to retail customers. May qualify for insurance or professional designation continuing education credit.

Ethics VI, Conflicts of Interest [20F]
This course discusses various conflicts of interest and other timely ethical issues facing personnel in the securities industry. Explores timely ethical issues in a case study format. May qualify for insurance or professional designation continuing education credit.

Ethics VII, Professional Responsibility in the Securities Industry [20G]
This course discusses the definition of “professional”, the knowledge and skills required of a professional, professional licenses and professional responsibility. Also reviewed is the responsibility to maintain registration, know your customer and suitability issues, trade practice and other prohibited activity.

Ethics VIII: Truth and Accuracy in Documentation [20H]
This course discusses recent NASD decisions that address violations involving fraud and documentation, including falsification of information, failure to provide information and forgery. Also discussed is NASD Rule 2110, Standards of Commercial Honor and Principles of Trade.

Exchanges and the OTC Market, The [eLIEX]
This course provides a basic understanding of the securities and bond secondary market via the stock exchanges and the OTC market. It discusses the types of traders, their duties and requirements. Stock price averages and stock price indices are also defined. Includes a step-bystep guide for reading stock and bond quotations.

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2007 Course Catalog VI. Securities

Federal Securities Rules and Regulations [eLIFRR]
This course covers the major federal acts and regulations governing the securities industry. It begins by covering the main purposes of and the requirements engendered by the Securities Act of 1933, the Securities Exchange Act of 1934 and Regulation T. Examination of the Investment Company Act and Investment Advisers Act of 1940 leads to a discussion of types of investment companies and who must and need not register as an investment adviser. The section on the Securities Investor Protection Act reviews customer coverage limits; a longer section examines the Insider Trading and Securities Fraud Enforcement Act of 1988, discussing insider trading and its prevention via Chinese walls. The final section takes a brief look at SEC rules governing advertising and sales literature.

Fee Based Accounts [90]
This course addresses fee-based accounts and includes topics such as: distinctions between a fee-based brokerage account and a fee-based advisory account; the considerations that representatives must discuss with their clients in connection with their decision regarding feebased accounts; disclosures; regulatory restrictions; and issues the SEC and NASD have identified regarding fee-based accounts.

Fee-Based Accounts: Compensation [05Mini_FBC]
This course will teach the student to be able to explain when broker-dealers offering feebased accounts are not subject to the Investment Advisers act of 1940; describe the SEC disclosure requirements for fee-based accounts exempt from the Advisers Act; discuss NASD rules regarding the suitability of fee-based accounts for customers and explain the disclosure, monitoring and follow-up requirements of the NYSE’s new Rule 405A governing fee-based accounts.

Financial Planning with Variable Annuities [47]
This course highlights the role of the variable annuity in the “big picture.” The financial professionals will fully understand how to use the variable annuity as an element in an overall financial plan developed for their clients. May qualify for insurance or professional designation continuing education credit.

Fixed and Variable Annuities [19]
This course examines the differences between fixed and variable annuities, role of the general and separate accounts of insurance companies for fixed and variable annuities; advantages/ disadvantages of variable and fixed annuities and the risks and limitations of these instruments. State and federal regulatory requirements relating to annuities are described in this course. May qualify for insurance or professional designation continuing education credit.

Fixed Income, Second Edition [4_2]
This course is a review of the growth of the fixed income market and the wide variety of instruments now available. Regulatory requirements are addressed and suitability concerns are considered. May qualify for insurance or professional designation continuing education credit.

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VI. Securities

Fixed Rate Products, Suitability of [58]
This course highlights the suitability and disclosure issues involved in the sales of fixed-rate products to retail clients. While viewed as conservative investments, sales of fixed rate products still present suitability considerations and entail risk. May qualify for insurance or professional designation continuing education credit.

Floor Communications: Conducting a Public Business on the NYSE Trading Floor [05Mini_FloorCom]
This course will teach the student what constitutes a public business, the qualification requirements for members conducting public business on the floor, qualification and supervisory requirements, compliance responsibilities of members who conduct public business on the floor and the topics of handling errors, knowing your customer and the use of portable phones on the trading floor.

Focus on Mutual Fund Sales Practices [4104]
This course is designed to provide registered representatives and their supervisors with guidance on the rapidly evolving regulatory landscape governing mutual fund sales practices. The student is provided a comprehensive discussion of evolving sales practice issues, including various sales practice and disclosure obligations attendant to the sale of mutual funds.

Fundamentals of AML for Non-Registered Professionals [3503]
This course provides an overview of money laundering, explains Currency Transaction Reports (CTRs) and other transaction reports required under the Bank Secrecy Act (BSA). Also reviewed are organizations involved in combating money laundering, Suspicious Activity Reports (SARs), Anti-Money Laundering compliance programs and Customer Identification Procedures (CIPs). May qualify for insurance or professional designation continuing education credit.

Fundamentals of AML for Registered Representatives [3505]
This course provides an overview of the various stages of money laundering and the various activities that constitute money laundering, reports required under the Bank Secrecy Act (BSA) and Currency Transaction Reports (CTRs). This course describes Suspicious Activity Reports (SARs) and activities, timing, requirements and practical implications associated with them. Anti-Money Laundering programs and Customer Identification Procedures (CIPs) are also explained.

General Suitability Issues [eLIGSI]
This course provides students with a basic background of suitability requirements relating to investment products. There is a discussion of the suitability rules and elements contained in the customer profile and explanations of risk factors that have an impact on suitability considerations. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog VI. Securities

Government Securities [eLIGS]
This course explains debt securities issued at the federal, state and local levels, the types of securities available and tax treatments of each. May qualify for insurance or professional designation continuing education credit.

Guiding Clients Through Difficult Markets [57]
This course discusses the two most important aspects of helping clients navigate through market volatility and economic uncertainty: managing client expectations and properly communicating with clients about their investments. May qualify for insurance or professional designation continuing education credit.

Handling Customer Accounts [eLIHCA]
This course covers issues that arise in the handling of customer accounts, including fraudulent practices and misuses of customer funds. It reviews prohibited practices, third-party orders and instructions, customer account transfers, gifts and gratuities, the sharing of profits and losses and the prudent man rule. A final section considers barriers and the prevention of the spread of inside information.

Handling Customer Accounts for Supervisors [eLIHCAS]
This course begins with an overview of supervision, duties to clients, the prudent investor rule and the scope of duties to different types of accounts, third party orders and order tickets, red flags and account transfers. The student will learn prohibited and fraudulent practices involving hot issues, inside information and barriers, fictitious accounts, switching, churning, gifts and gratuities, the sharing of profits and losses and other practices.

Hedge Funds [6001]
This course provides an overview of hedge funds for registered representatives, including common characteristics, distinctions from registered investment companies, different types and investment strategies, the risk factors associated with hedge funds generally and with particular trading strategies employed by different types of funds. Reviews the due diligence, suitability and disclosure requirements applicable to the recommendation and sale of hedge funds and outlines the areas of regulatory concern and potential regulation.

Hedge Funds: The Highlights [05Mini_HF]
As a result of scrutiny by the SEC, NASD and other regulators, members must be aware of their obligations when selling hedge funds. This course will improve your knowledge of the characteristics, risks and regulatory concerns associated with hedge funds.

94

VI. Securities

Highlights of the Sarbanes-Oxley Act [105]
This course is designed for both registered and non-registered personnel. It explores the circumstances that brought about the enactment of American Competitiveness and Corporate Accountability Act of 2002- better known as the Sarbanes-Oxley Act. The course uses examples from corporate governance and accounting scandals of the late 1990s and early 2000s and concludes with a brief discussion of new stiffer penalties for misconduct and restitution for those who have suffered losses as a result of corporate misconduct.

Impact of the Gramm-Leach-Bliley Financial Modernization Act, The [44]
This course reviews the changes in the financial services industry that have been and will be wrought by the passage of the Gramm-Leach-Bliley Act (GLBA) and related regulation. Also examined are the regulatory changes impacting banks, insurance companies and broker-dealers and how their businesses will be affected. May qualify for insurance or professional designation continuing education credit.

Index Options [7]
This course explains how the indexes used by these instruments are formulated and weighted. Index option mechanics, European-capped options, American-style options, Flex options and LEAPS are discussed. Margin issues, the role of hedging and the effect of leverage from index options are examined. Trading strategies and regulatory concerns are also reviewed. May qualify for insurance or professional designation continuing education credit.

Information Security Awareness [85]
This course covers topics such as password construction and management, Internet usage, telephone fraud, physical security/building access, incident reporting, mobile and laptop security, home PC security, back-up regulation and compliance issues. There is a section dedicated to email usage, malicious code that includes viruses, Trojans, worms and identity theft. May qualify for insurance or professional designation continuing education credit.

Initial Public Offerings [eLIIPO]
This course provides an in-depth understanding of initial public offerings (IPO’s). In addition to demonstrating the advantages/disadvantages of IPO’s, this course details the entire process for preparing and completing an IPO, the legal and regulatory requirements involved in going public and the tax ramifications relating to IPO’s. May qualify for insurance or professional designation continuing education credit.

Insider Trading [eLIINT]
This course describes information the insider trading rules cover and who is covered by the rules. There is a discussion of who enforces the rules and the nature of liability arising from illegal insider trading. The course ends with a discussion of the role and practices of compliance departments in regard to insider trading. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog VI. Securities

Insider Trading, Second Edition [24_2]
This course is a review of the background and scope of SEC anti-fraud standards prohibiting insider trading. Included is a review of mail and wire fraud prohibitions and restrictions on shortswing profits by insiders of publicly-held companies. May qualify for insurance or professional designation continuing education credit.

Investment Advisers [30]
This course is a focus on conflict of interest provisions in that legislation and the role that fiduciary duties play in the activities of investment advisers. The suitability concept is examined. Other regulatory requirements are also addressed. May qualify for insurance or professional designation continuing education credit.

Investment Advisers II [30A]
This course covers compliance issues as well as practical problems frequently encountered by dually licensed registered representatives and investment advisers. It also examines areas of current regulatory focus. May qualify for insurance or professional designation continuing education credit.

Investment Products, An Overview of [eLIIVP]
This course discusses investment objectives, ways to handle risks and various types of investments, including stocks, bonds and mutual funds.

Lending Restrictions [05Mini_LendRes]
This course discusses NASD Rule 2370, which specifically ban loans to or from customers by registered representatives unless certain procedures are followed; and even then, only in limited situations. The student will become familiar with five types of loans permitted between registered representatives and customers; the notice and approval procedures required for permissible loans under Rule 2370; the 2004 amendment to Rule 2370; and the lending restrictions placed on registered representatives by state regulatory agencies.

Life Insurance and Annuity Replacement [eLILAR]
This course discusses the nature of replacement of an insurance or annuity contract and reviews the policyholder and regulatory concerns about replacement. Also explained is full and fair disclosure and prohibited replacement activities. May qualify for insurance or professional designation continuing education credit.

Listed Equities, Second Edition [1_2]
This course reviews federal regulation of the exchanges, the methodology for executing orders and the role of the specialist on the NYSE and other exchanges. There is a focus on risk factors associated with listed equities, including the possibility of a lack of liquidity, trading interruptions and market factors that may affect the price of listed stocks. Suitability and other regulatory requirements are reviewed as well. May qualify for insurance or professional designation continuing education credit.

96

VI. Securities

Margin Accounts [05Mini_Margin]
This course will review and reinforce some of the basic rules and concepts concerning the use of margin and why investors use margin. The student will understand minimum, initial and maintenance margin and the different types of customer accounts used in margin trading. The fundamental requirements of Regulation T and SRO margin rules are also discussed.

Margin Accounts [eLIMA]
This course provides an understanding of the use of margin accounts in securities trading, fundamentals of trading on margin in long and short positions, regulatory rules and maintenance requirements associated with these transactions. Detailed scenarios complement the information throughout the course. May qualify for insurance or professional designation continuing education credit.

Margins [26]
This course outlines the background of the regulatory requirements imposed by the Federal Reserve Board and reviews the requirements of Regulation T and the rules of the self-regulatory organizations governing maintenance margin requirements. The use of Special Memorandum Accounts, the concept of “purchasing power,” and the granting of margin extensions are also discussed. May qualify for insurance or professional designation continuing education credit.

Margins II [26A]
This course is an overview of permissible activities in cash and margin accounts, initial and maintenance margin requirements and meeting calls. Account documentation and disclosure issues, suitability and risk management considerations are discussed. May qualify for insurance or professional designation continuing education credit.

Market Timing [81]
This course is intended to educate representatives regarding market timing and includes topics such as SEC rule amendments designed to impede market timing; how to identify illegal market timing practices, thus avoiding sanctions; and measures such as the two percent redemption fee on the redemption of shares purchased within the previous five days, to further prevent unfair market timing.

Markets and Market Making [29A]
This course is focused on the electronic marketplace and reviews automated training, alternative trading systems, changes in the securities markets and electronic access to the securities markets. The course discusses making markets in the 21st century and additional regulatory requirements of OTC market makers and defines several fraudulent practices.

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2007 Course Catalog VI. Securities

Money Laundering [eLIML]
This course provides in-depth coverage of this issue, including information on anti-money laundering systems, evolving inter-governmental regulations and recent recommendations forged by the Financial Action Task Force (FATF) on money laundering. May qualify for insurance or professional designation continuing education credit.

Multiclass Shares [eLIMC]
This course describes how multiple share classes are used to finance the sales charges on mutual fund purchases in order to meet different investor needs. The factors to consider when matching client needs to the appropriate share class are covered. May qualify for insurance or professional designation continuing education credit.

Municipal Bonds [eLIMB]
This course reviews what municipal bonds are and how they are issued. There is a discussion about the various types of municipal bonds, their mechanics, how they were introduced into the marketplace and how to determine investor suitability. There is a brief discussion of municipal bond regulation. May qualify for insurance or professional designation continuing education credit.

Municipal Debt, Second Edition [15_2]
This course reviews developments in the area of municipal securities trading, including the increased transparency of the municipal securities market and provides an overview of the basic characteristics of municipal bonds, the different types of municipal bonds and bond provisions; and other types of municipal securities, including Collaterized Mortgage Obligations and Section 529 plans. It also reviews suitability issues relating to the sale of municipal securities, including the risks and discusses possible suitable uses of municipal securities. Finally, it reviews some of the most pertinent regulatory requirements in connection with offering and selling municipal securities. May qualify for insurance or professional designation continuing education credit.

Mutual Fund Breakpoints [4101]
This course discusses the structure of breakpoints and the methods by which breakpoints may be obtained including identifying certain regulatory red flags that may trigger an investigation into whether or not a customer was adequately advised on breakpoints. May qualify for insurance or professional designation continuing education credit.

Mutual Fund Breakpoints [eLIMFBP]
This course covers the basic principles of mutual fund breakpoints, the procedures used for customer accounts and the ethical and legal underpinnings for broker-dealers and financial services practitioners. Also covers NASD compliance requirements in the wake of several highly publicized investigations.

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VI. Securities

Mutual Fund Multi-Class Shares, Third Edition [41_3]
This course focuses on suitability concerns and topical sales practice issues and the various costs and fees associated with A, B and C share classes. It also explains how an investor’s profile needs to be analyzed and other mutual fund sales practice topics of concern to regulators. May qualify for insurance or professional designation continuing education credit.

Mutual Funds [05Mini_MF]
This course discusses the popularity of mutual funds and the media attention given to mutual fund sales practices, the particular practices for the sale of mutual funds and those practices that will become industry standards.

Mutual Funds [9]
This course examines the history of mutual funds and the development of their regulation. The nature of investment companies and the differences between closed-end and open-end investment companies are discussed. The course also covers investment objectives of mutual funds, risk factors, money market funds, suitability of mutual funds for investors, NASD and other regulatory requirements for these funds. May qualify for insurance or professional designation continuing education credit.

Mutual Funds [eLIMF]
This course covers the legal structure and operation of a mutual fund, including the role of the investment advisor and other key players. Sales charges, redemption fees, costs, net asset value, dividends, capital gains, losses, taxation issues upon sale and factors to consider when choosing a mutual fund are discussed. May qualify for insurance or professional designation continuing education credit.

Mutual Funds, Advanced [9A]
This course examines the growth of mutual funds, regulatory concerns and suitability issues. This second-level course reviews the differing objectives of mutual funds, examines recent concerns expressed by the NASD in the sale of mutual funds and describes particular regulatory requirements. May qualify for insurance or professional designation continuing education credit.

Mutual Funds, Suitability Issues of [eLISMF]
This course discusses suitability issues with respect to the sale and purchase of mutual funds. There is an emphasis on the importance of knowing your prospect and the fund you are offering, fund structures, different classes of shares, exchanges, risks and taxation. Students consider the special situations of institutional and elderly customers and bank-affiliated broker-dealers. In addition, the requirements of suitability with respect to electronic communications that are deemed recommendations are considered. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog VI. Securities

NASD Issues and Concerns Regarding Bonds and Bond Funds [76]
This course focuses solely on various bond types that include: fixed rate debt securities, taxable and non-taxable bonds, corporate, municipal and asset-backed bonds and bond funds. Also discusses NASD’s Notice to Members reminding firms of their obligation to adequately train and supervise employees who sell bonds.

NASD Rules and Regulations [eLINRR]
This course covers the organization and purpose of NASD, Conduct Rules, Code of Procedure and Code of Arbitration Procedure.

New and Secondary Offerings [05Mini_NSO]
This course is designed to give a brief overview of timely issues in the area of New and Secondary Offerings. After reading this course, the student should have a better understanding of NASD Rule 2790, which replaces the Free-Riding and Withholding Interpretation and the NASD amendments to Rule 2710.

New and Secondary Offerings [eLINSO]
This course covers SEC registration and prospectus requirements for public offerings. It covers the SIPC, protection it provides, penny stock rules, transactions which are exempt from disclosure rules and the required disclosures to customers. Penny stock risks and important points, such as the spread, the number of dealers in the stock and issues related to IPO’s are also covered.

Non-Qualified Deferred Compensation [eLIDC]
This course provides a basic understanding of deferred compensation plans, including benefits and advantages to employees and employers, funding, the role of insurance, taxation, plan design and deferred compensation markets. May qualify for insurance or professional designation continuing education credit.

OFAC [80]
This course is an introduction to the Office of Foreign Asset Control Compliance. It defines OFAC’s purpose, outlining the OFAC regulations, procedures and penalties for non-compliance.

100

VI. Securities

Online Suitability [eLIOS]
This course discusses the key issues facing financial professionals, their obligations in the new environment and how the various suitability rules and “know your customer” rules apply to online services. The tutorial explains NASD guidelines for determining whether an online communication constitutes a “recommendation” under Notice 01-23. May qualify for insurance or professional designation continuing education credit.

Online Trading [38]
This course focuses on online trading (what it is, how it works and the rules and regulations that affect it) and a registered representative’s responsibilities and potential liabilities in dealing with customers who enter their orders online.

Options [6]
This course examines the mechanics of trading of stock options on the exchanges and the trading characteristics of exchange-traded options. Functions of the Option Clearing Corporation are explained. Investor objectives and regulatory considerations for stock options and abuses are considered. May qualify for insurance or professional designation continuing education credit.

Options II [6A]
This course is designed for individuals who primarily service retail clients and have basic knowledge of options products and how they work. The student is provided examples of certain popular listed options and options strategies. The course provides an overview of certain margin and tax considerations. It also outlines regulatory requirements pertaining to documentation, suitability and communications with the public. May qualify for insurance or professional designation continuing education credit.

Options Trading [eLIOPT]
This course provides a comprehensive survey of the concepts and strategies of options trading, examines the various options and any special risks associated with each. This includes equity options, stock index options and a range of non-equity options, such as interest rate options, foreign currency options, futures options and flexibly structured options. May qualify for insurance or professional designation continuing education credit.

OTC Equities, Second Edition [14_2]
This course describes characteristics of over-the-counter (OTC) securities. Regulatory requirements for purchasing and selling securities in the over-the-counter market are examined, including prospectus requirements, Blue Sky laws, underwriting restrictions and the role of exempt transactions. Also reviewed are the OTC secondary markets ( including the NASDAQ); functions of market makers; automated execution systems; role of the broker versus the dealer in the OTC market; general investment features of OTC equity securities; investment objectives; special risk factors affecting OTC common and preferred stocks; suitability considerations; and special concerns regarding “penny stocks”. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog VI. Securities

Penny Stocks [18]
This course examines the special legislation and SEC regulations imposed on “penny stocks.” The term “penny stock” is defined and exclusions are considered. SEC rules concerning penny stock accounts, suitability information, customer agreements and risk disclosures are all reviewed. Blank check offerings are also discussed. Although the SEC’s penny stock rules do not apply to many firms, this course proves valuable to any broker or company that is involved in the penny stock market. May qualify for insurance or professional designation continuing education credit.

Preventing AML: Private Banking Accounts for Foreign Persons [3506]
This course provides an overview of money laundering and Anti-Money Laundering regulation. Customer Identification Procedures (CIP’s) and AML compliance programs are discussed. This course describes private banking accounts, including the requirements and factors involved in handling accounts for foreign persons.

Preventing AML: Senior Foreign Political Figures Accounts [3507]
This course provides an overview of money laundering and Anti-Money Laundering regulation. It explains the Bank Secrecy Act (BSA) and its focus on transaction reporting and monitoring, AML compliance programs and Customer Identification Procedures (CIP’s). The course provides extensive details regarding requirements and factors involved in handling accounts for senior foreign political figures.

Preventing and Detecting Money Laundering II: Case Studies, Second Edition [35A_2]
This course analyzes the issues presented by various hypothetical scenarios to help registered representatives, supervisors and other firm personnel better understand their duties and responsibilities in preventing and detecting attempts at using a broker-dealer for money laundering purposes. The course also examines the impact of suspicious activity reporting requirements on the hypothetical scenarios.

Preventing and Detecting Money Laundering, Second Edition [35_2]
This course discusses issues raised by this regulatory scheme and potential “red flags.” Tips on how to spot money laundering behavior, pointers for prevention of such behavior, items useful for compliance, monitoring and education programs. May qualify for insurance or professional designation continuing education credit.

Private Placements [78]
This course is designed to identify the role of private placements in raising capital for business growth, explains the various exceptions to registration under the 1933 Act that allow for private placements and discusses the private placement process.

102

VI. Securities

Registration and Reporting Issues [eLIRRI]
This course discusses registration and regulation in the securities industry and covers the registrations required of broker-dealers, registered representatives and investment advisers. Included is a brief overview of regulation in the securities industry, major acts passed by the federal government, NASD and its jurisdiction and state blue-sky laws.

Regulation M [5]
This course discusses the history of SEC Rule 10-b and other SEC rules that have been replaced by Regulation M. Restricted trading periods for underwriters and issuers, limitations on passive market-making activities during a distribution and restrictions on stabilizing activities are also addressed.

Regulatory Focus- Research Analysts [05Mini_RA]
This course discusses rule changes brought about by the SEC, NASD and NYSE designed to lessen analysts’ conflicts and improve disclosure to investors. Also discussed is the focus on integrity and disclosure and their effects on research analysts and other activities at a broker-dealer.

Regulatory Focus: Bond Sales [05Mini_Bonds]
This course addresses the issues and concerns raised by NASD regarding bonds and bond funds. It discusses those issues identified by NASD in Notice to Members 04-30 as being areas that should be included in training for those who sell bonds and/or bond funds.

Replacements, 1035 Exchanges and Mutual Fund Switches [55]
This course helps registered representatives make appropriate decisions about when to recommend a replacement, exchange, or switch, identify instances in which such a recommendation would be deemed unsuitable or inappropriate and covers the practical aspects of documenting the transaction. May qualify for insurance or professional designation continuing education credit.

Reporting and Disclosure: The TRACE System [05Mini_RandD]
This course will teach the student to be able to define Trace-eligible securities; describe which TRACE transactions must be reported to NASD; explain the TRACE reporting requirements and discuss which reported information is disseminated by NASD and how the information can be accessed.

Research Analysts and Conflicts of Interest [6201]
This course covers permissible conduct on the part of research analysts, rules requiring certain disclosures in research reports, public appearances and some significant disciplinary matters concerning research and conflicts of interest with the investing public.

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2007 Course Catalog VI. Securities

Research Analysts and Conflicts of Interest: Supervisory Concerns [6202]
This course covers from a supervisory standpoint permissible conduct on the part of research reports, public appearances and some significant disciplinary matters concerning research and conflicts of interest with the investing public.

Sale of Variable Annuities to Seniors [1903]
This course reviews the characteristics of annuities that bear upon their suitability for seniors; compares an investment in a variable annuity to an investment in mutual funds; risks associated with variable annuities and the suitability issues applicable to seniors; common sales pitches used for variable annuities and the facts that must be included in any presentation. Registered representatives need to exercise particular care in the sale of variable annuities to seniors to assure that such sales withstand scrutiny by the regulators. May qualify for insurance or professional designation continuing education credit.

Sale of Variable Annuities to Seniors, Supervisory Concerns [1904]
This course reviews the characteristics of annuities that bear upon their suitability for seniors, including costs, tax issues, and estate issues; compares an investment in a variable annuity to an investment in mutual funds; discusses the risks associated with variable annuities, suitability issues applicable to seniors; and examines some common sales pitches used for variable annuities and the facts that must be included in any presentation. Inclusion of supervisory checklist for reviewing variable annuity transactions, as well as discussion of disciplinary actions against supervisors, is included in the supervisory version of this course. May qualify for insurance or professional designation continuing education credit.

Sarbanes-Oxley Act of 2002, The [eLISOA]
This course explains the main provisions of the Sarbanes-Oxley Act of 2002. The Act has wide application for publicly traded corporations, public accounting firms, financial analysts and investment bankers. May qualify for insurance or professional designation continuing education credit.

Sarbanes-Oxley Act, The Impact of the [71]
This course includes reforms in corporate governance and regulation of accounting firms, avoidance and disclosure of conflicts of interest by corporate insiders, broker-dealers, research analysts, new responsibilities and limitations for corporate officers/directors, new duties for attorneys, protections for whistleblowers and new disclosure and certification obligations. May qualify for insurance or professional designation continuing education credit.

SEC’s Books and Records Rule, The [63]
This course explains the rationale behind books and records rules; account type records that are mandatory for customer accounts; information that must appear on order tickets; records that must be maintained on associated persons; records that must be maintained regarding the activities of each office; records of the review and approval of communications with the public and miscellaneous provisions of the new rules. May qualify for insurance or professional designation continuing education credit.

104

VI. Securities

Securities Fundamentals for Sales Assistants [59]
This course outlines the regulatory and compliance issues most often faced by sales assistants, including the permissible scope of dealings between registered and unregistered personnel and the public, appropriate customer communication, duties owed to customers and to firms, product profiles and customer documentation requirements.

Securities Regulatory Essentials for Financial Professionals [40G]
This triple course discusses suitability (types of risk and their application to various types of products); business conduct; and handling customer accounts.

Sexual Discrimination and Harassment [33_05]
This course discusses Title VII and its implications. Examples of behavior and attitudes that can lead to sexual discrimination and harassment, how to handle and avoid such problems are covered.

Sexual Discrimination and Harassment, CA version [33_CA]
This course meets the California guidelines for sexual discrimination and harassment training for supervisory personnel in firms with over 50 employees.

Short Sales [05Mini_ShortSales]
This course will teach the student to explain the price tests for short sales; identify the negative effects of naked short selling and understand Regulation SHO’s requirement that securities must be “located”. The student will also be able to define “threshold” securities and the marking requirements for securities under Regulation SHO.

Suitability Concept, Series 6 Edition, Understanding the [39_S6]
This course addresses the suitability and risk issues inherent in a wide variety of investment products. The salient features of each product and their suitability profiles are covered. This course emphasizes the disclosure requirements for each product. May qualify for insurance or professional designation continuing education credit.

Suitability Concept, Series 7 Edition, Understanding the [39_S7]
This course addresses the suitability and risk issues inherent in a wide variety of investment products, with a focus on the products most commonly offered by financial services firms. The salient features of each product and their suitability profiles are discussed. This course emphasizes the disclosure requirements for each product. May qualify for insurance or professional designation continuing education credit.

Suitability Issues, Advanced [eLIADS]
This course provides an in-depth discussion about suitability rules and regulations. It examines the financial and personal factors that registered representatives must consider in determining the suitability of products for specific customers, reviews the relationship between risk and suitability, and the suitability issues of mutual funds and variable products. May qualify for insurance or professional designation continuing education credit. 105

2007 Course Catalog VI. Securities

Supervision [22]
This course examines the scope of the supervisory requirement and its application to specific situations. Also surveys SEC pronouncements on the roles of particular supervisors, from the president of broker-dealers to branch office managers.

Supervisor Update on Mutual Fund and Annuity Sales Practices [2202]
This course reviews a broker-dealer supervisor’s role with reference to breakpoints, Mutual Fund Class B shares, market timing, late trading, compensation issues, improved mutual fund disclosures, hedge funds and annuity sales and marketing.

Supervisor Update on Mutual Fund Sales Practices [2201]
This course discusses breakpoints, Mutual Fund Class B Shares, market timing, late trading, compensation issues, improved mutual fund disclosure and hedge funds.

Supervisory Duties from Pre-Hire to Termination Year 2000 Update [22AU00]
This course updates the student on events affecting supervisory duties and responsibilities that occurred during 1999. Reviews include: supervisory structure and procedures; customer communications; sales literature rules; continuing education and employee training and compensation rules; sales of variable annuity contracts; day trading, customer protection in a volatile market; the proposed replacement of the Free-Riding and Withholding Interpretations with Rule 2790 (Trading in Hot Equity Offerings). The course concludes with a review of employee arbitration rules.

Supervisory Update 2003 - Series 26 Supervisors [22AU03_26]
This course reviews the regulatory and legislative events of 2002 most likely to impact those with supervisory duties in the securities industry. It includes discussions regarding new responsibilities with a focus on avoiding misappropriation, assuring customers receive the benefit of applicable breakpoints when selling mutual funds and suitability concerns. The course includes a review and discussion of miscellaneous initiatives, pronouncements, rule changes, proposals and disciplinary actions.

Supervisory Update Year 2001 [22AU01]
This course reviews events affecting supervisory duties and responsibilities that occurred during the year 2000. Included are reviews of the Gramm-Leach-Bliley Act, Regulation FD, NASD rules on day trading accounts, supervision of remote offices, sales practice initiatives, proposed rule making and significant enforcement actions involving supervisors.

Supervisory Update Year 2002 [22AU02]
This course covers significant changes in the laws and rules affecting the securities industry, particularly significant Notices to Members and other regulatory guidance and disciplinary actions of major interest to supervisors.

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VI. Securities

Supervisory Update Year 2003 [22AU03]
This course highlights the most significant and changed regulations of 2003 that impact supervisors of registered representatives engaging in retail sales, as well as analyzing the various SEC and NASD disciplinary actions involving supervisory personnel. Regulatory initiatives and disciplinary and examination trends are also discussed.

Supervisory Update Year 2004 [22AU04]
This course covers the important changes in laws, rules, regulatory initiatives and case precedents, with special emphasis on how these developments are likely to affect those with supervisory duties over financial services professionals. May qualify for insurance or professional designation continuing education credit.

Supervisory Update Year 2005 [22AU05]
This course is an overview of important developments over the preceding year that impact persons working in the securities industry. Important changes in laws, rules, regulatory initiatives and case precedents are discussed, with special emphasis on how these developments affect those with supervisory duties over financial services professionals. This course is presented in a case studies format.

U S Government Debt [3]
This course discusses government agencies issuing securities, the mechanics of trading in U.S. Government securities, risk factors associated with U.S. Government securities, suitability and other regulatory requirements. Some of the U.S. Government debt instruments discussed are T-bills, T-bonds, T-notes, repurchase agreements, zero coupon bonds, stripped securities and GNMAs. May qualify for insurance or professional designation continuing education credit.

Unit Investment Trusts [05Mini_UIT]
This course discusses the valuable role that Unit Investment Trusts (UITs) can play in an individual investor’s portfolio, while also pointing out the tax, redemption and other risks that often make UIT securities an unsuitable investment.

Supervising the Sales of Unregistered Equity Indexed Annuities (97)
Examines the differences between Equity Indexed Annuities (EIAs) and traditional fixed annuities. Also addresses suitability concerns and the issue of supervisory compliance.

Anti-Money Laundering Update 2006, covering events of 2005 (35AU06)
This course is an update of new regulations, regulatory proposals and developments affecting anti-money laundering efforts of broker-dealers and their personnel. Provides an overview of development in the areas of money laundering and terrorist finance avoidance that occurred in 2005. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog VI. Securities

Supervisory Update 2006, Covering Events of 2005 (22AU06)
This course is an overview of important developments in 2005 impacting persons working in the securities industry. Covers changes in laws, rules, regulatory initiatives and how these changes affect those with supervisory duties over financial services professionals.

Unit Investment Trusts [11]
This course defines what constitutes a “unit investment trust” and examines the advantages to investors of these instruments, including diversification and professional management. The role of the sponsor of unit investment trusts is considered, as are the functions of the trustee. The course also reviews the characteristics of these instruments and describes their underwriting. Risks presented by unit investment trusts and the regulatory requirements relating to these instruments, including suitability, are discussed. May qualify for insurance or professional designation continuing education credit.

Variable Annuities in Tax Advantaged Accounts [1901]
This course will assist registered personnel in carrying out their responsibilities regarding the sale and marketing of variable annuities by reviewing the comparative tax advantages of “qualified” accounts and variable annuities. Also discussed are the principles that registered representatives must consider regarding tax advantaged accounts and annuities, examination of 403(b) accounts; and covering the suitability requirement and “best practices” guidance regarding sales of variable annuities. May qualify for insurance or professional designation continuing education credit.

Variable Annuities in Tax Advantaged Accounts, Supervisors Edition [1902]
This course will assist registered personnel in carrying out their responsibilities regarding the sale and marketing of variable annuities by reviewing the comparative tax advantages of “qualified” accounts and variable annuities. Also discussed are the principles that registered representatives must consider regarding tax advantaged accounts and annuities, examination of 403(b) accounts; and covering the suitability requirement and “best practices” guidance regarding sales of variable annuities. This version incorporates a brief discussion on supervisory concerns with reference to variable annuities in tax-advantaged accounts. May qualify for insurance or professional designation continuing education credit.

Variable Annuities, Advanced [19A]
This course analyzes various features of products that may be selected and how they operate. Suitability, risk, other sales practices and the NASD rules specifically applicable to customer communications about variable annuities are discussed. Tax treatment of variable annuities is reviewed both from the perspective of qualified versus non-qualified annuities and from the perspective of the client. May qualify for insurance or professional designation continuing education credit.

108

VI. Securities

Variable Annuities, Suitability Issues of [SVA]
This course covers the principal suitability issues related to variable annuities. After describing the product, the lesson discusses factors Registered Representatives should consider when recommending variable annuities and steps they may take to protect themselves from unsuitability claims. Also introduces the client profile and its relationship to the determination of suitability. May qualify for insurance or professional designation continuing education credit.

Variable Products, Suitability of [32]
This course discusses the nature, benefits and risks of variable insurance, variable annuity products, variable life, variable universal life, variable annuities and mutual funds. The important features of each of these products are explained in detail. It compares and contrasts mutual fund and variable annuity investments. Suitability concerns for recommendations of various products are addressed. An appendix is included as an easy-to-reference guide to the types of equity, fixed income, mixed objective and balanced portfolio funds. May qualify for insurance or professional designation continuing education credit.

Variable Universal Life Insurance [34]
This course discusses the elements of a variable universal life insurance product and compares VUL to variable life and universal life policies, assesses the VUL product’s advantages/ disadvantages for the client, the concept of risk tolerance as it applies to the VUL client and specific suitability considerations affecting VUL sales. Also covered are the regulatory environment and ethical issues affecting sales of VUL policies. May qualify for insurance or professional designation continuing education credit.

Wrap Accounts [17]
This course describes the services provided by a wrap account, including asset investment services, portfolio management and execution services. The advantages/disadvantages of wrap accounts are discussed, as are regulatory requirements such as the wrap account brochure. Suitability and other regulatory concerns for wrap accounts are considered. Mutual fund asset allocation programs are described, as well as risk factors associated with such accounts. May qualify for insurance or professional designation continuing education credit.

Wrap Fee Programs [WFP]
This course explains the fundamentals of the two basic types of wrap fee accounts: mutual fund and separate account wrap fee programs. Each program is explained in detail with respect to features and benefits, typical fees and expenses, account opening forms and client reporting. The course also offers an understanding of the regulation and government of wrap fee programs, their history and role in the marketplace and recent trends. Appropriate sales situations are discussed for each type of program. May qualify for insurance or professional designation continuing education credit.

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2007 Course Catalog VI. Securities

Variable Annuity Living Benefit Riders: Operation and Suitability (110)
This course discusses Guaranteed Minimum Benefit, Guaranteed Minimum Accumulation Benefit and Guaranteed Minimum Withdrawal Benefit. The advantages/disadvantages of each benefit are covered in detail. May qualify for insurance or professional designation continuing education credit.

SEC Regulation of Soft Dollar Arrangements (114)
The SEC has defined soft-dollars to mean “products and services, other than execution of securities transactions that an investment manager receives from or through a broker-dealer in exchange for the adviser’s direction of client brokerage transactions to the broker-dealer”. This course addresses the issue of soft-dollars, examines the findings of the task force, and explains the rationale behind those findings.

Overview of the Equity Trader Examination (124)
This course reviews material covered by the NASD’s Series 55 Equity Trader Examination. Familiarizes the reader with the structure of the OTC markets, including Nasdaq; trading and quotation rules applicable to OTC market makers; handling of customer orders and report trades; basic Conduct Rules of the NASD, and the Securities Acts of 1933 and 1934.

An Overview of AML Events of 2005 (3508)
Examines the specific AML events of 2005, including new or expanded regulations; FINCEN enforcement actions, and investigations by FinCEN aided by the information provided in suspicious activity report (SARs). Also covered are the AML and SAR requirements applicable to insurance companies, and the proposed requirements for annual testing of broker-dealers’ AML procedures. Concludes with a money laundering case study. May qualify for insurance or professional designation continuing education credit.

Equity Indexed Annuities-Supervision (121)
Equity Indexed Annuities have gained in popularity, in part because they offer less risk exposure than variable annuity purchases. Many firms have added EIAs to their investment choices for customers. This course examines the nature of regulatory concerns surrounding EIAs and offers guidance on the supervision of EIA sales.

Structured Products-More Innovation, More Regulation (122)
As a result of the increased popularity of structured products, NASD issued Notice to Members 05-59 (September 2005) which provides guidance regarding the sales of structured products. This course focuses on the obligations the NASD has highlighted in NTM 05-59, so that salespersons may be in tune with regulators’ positions on structured products.

110

Financial Training
I. II. NASD Exam Preparation Insurance Pre-Licensing 113 115

111

Notes

112

I. NASD Exam Preparation
NASD Exam Prep Series 6 (Investment Company/ Variable Contracts Representative) [EP_S6]
This course covers investment securities; securities markets; economic factors, investment risks and portfolios; investment companies; marketing mutual fund shares, types of accounts and computation of sales charges; comparing mutual funds; variable annuities and life insurance; taxation; retirement plans; and federal securities regulations, including regulations of the NASD.

NASD Exam Prep Series 7 (General Securities Representative) [EP_S7]
This course covers investment securities; securities markets; economic factors; investment risks; investment companies; marketing mutual fund shares; types of accounts; comparing mutual funds; variable annuities; taxation; retirement plans; federal securities regulations, including regulations of the NASD; margin accounts; options municipal securities; exchange markets; OTC markets; customer accounts; financial statements; technical analysis; reserve system; additional rules; taxation; and review of acronyms.

NASD Exam Prep Series 26 (Investment Company/ Variable Contracts Principal) [EP_S26]
This course covers the rules and statutory provisions applicable to supervision of mutual funds, variable annuities and variable life insurance product sales. Note: a Series 6 or Series 7 is a prerequisite for this license.

NASD Exam Prep Series 24 (General Securities Principal) [EP_S24]
This course covers supervision of investment banking activities; supervision of trading and market making activities; supervision of brokerage office operations; sales supervision; general supervision of employees; regulatory framework of NASD; and compliance with federal responsibility rules. Note: a Series 7, Series 17, Series 37, Series 62 or Series 12 is a prerequisite for this license.

NASD Exam Prep Series 9 (General Securities Sales Supervisor – Option Module) [EP_S9}
This course covers sales supervision of options on the branch manager level; and regulation of options. Note: a Series 7 is a prerequisite for this license.

NASD Exam Prep Series 10 (General Securities Sales Supervisor-General Module) [EP_S10]
This course covers general sales supervision on the branch manager level; management detail, hiring, continuing education; supervision of sales activities, including supervision of municipal securities sales activities; record keeping requirements; and conduct. Note: a Series 7 is a prerequisite for this license.

113

2007 Course Catalog NASD Exam Preparation

NASAA Exam Prep Series 63 (Uniform Securities State Law Exam) [EP_S63]
This course covers the Uniform Securities Act; federal and state regulations; registration of brokerdealers, agents, investment advisors and investment advisor representatives; definitions of exempt securities and exempt transactions; fraudulent and other prohibited business practices; regulatory oversight; criminal penalties; and civil penalties.

NASAA Exam Prep Series 65 (Investment Advisor Law Exam) [EP_S65]
This course covers the Uniform Securities Act; federal and state regulations; registration of investment advisors and investment advisor representatives; fraudulent and other prohibited business practices; regulatory oversight; criminal penalties; civil penalties; federal investment advisor regulations, including SEC Release IA-1092; investment analysis; and suitability.

NASAA Exam Prep Series 66 (Uniform Combined State Law Exam) [EP_S66]
This course covers the Uniform Securities Act; federal and state regulations; registration of brokerdealers, agents, investment advisors and investment advisor representatives; definitions of exempt securities and exempt transactions; fraudulent and other prohibited business practices; regulatory oversight; criminal penalties; civil penalties; investment advisor regulations, including SEC Release IA1092; investment analysis; and suitability. Note: A person seeking to take this course should contact either the state administrator or compliance department at their firm to see if their state utilizes the Series 66. In addition, the Series 7 is a co-requisite for this exam in most states.

114

II. Insurance Pre-licensing
Listen UP! Life and Health and/or Property and Casualty
Listen UP! is an audio CD that dynamically presents important insurance concepts, concentrating on areas that have proven to be difficult for many students. The interactive conversational format entertains as well as educates. The Life and Health course covers principles of insurance; types of life insurance policies; annuities; life insurance policy provisions; taxation of life insurance; types of health insurance policies; health insurance provisions; and other health insurance concepts. The Property and Casualty course covers insurance basics; dwelling policy; homeowners policy; auto insurance; business policy; commercial package policy; workers compensation; and other coverages.

The Exam Simulator Life and Health and/or Property Casualty
The Exam Simulator is an assessment tool that takes the guess work out of preparing for your insurance exam. With the Exam Simulator, users can build on the knowledge that they have gained from class or published materials. This CD-ROM assesses students’ comprehension and then provides them with customized testing to ensure that they will be prepared for the state exam. By simulating every aspect of the exam; visuals, question content, question format and functionality of the test, The Exam Simulator ensures there are no surprises come test day.

The Exam Simulator PASS Package for Life and Health and/or Property and Casualty
The Exam Simulator PASS Package combines our comprehensive, state-specific study guide with the interactive learning tools of the Exam Simulator. This traditional approach to learning is one of the most powerful forms of study on the market today. It combines the flexibility and portability of printed material with the customized functionality of computer-based training. The Life and Health course covers principles of insurance; types of life insurance policies; annuities; life insurance policy provisions; taxation of life insurance; types of health insurance policies; health insurance provisions; other health insurance concepts; and each state’s specific rules and regulations. In addition, the package does so using the state’s testing provider outline to ensure proper coverage of topics. The Property and Casualty course covers insurance basics; dwelling policy; homeowners policy; auto insurance; business policy; commercial package policy; workers compensation; other coverages; and each state’s specific rules and regulations. In addition, the package does so using the state’s testing provider outline to ensure proper coverage of topics.

115

2007 Course Catalog Insurance Pre-Licensing

ExamFX for Life and Health and/or Property and Casualty
ExamFX is a dynamic multimedia presentation of the Exam Simulator PASS Package. It combines the benefits of our streamlined, state-specific study guide with the flexibility and convenience of e-learning. ExamFX accommodates the different speeds and styles in which each new recruit learns. ExamFX brings the material to life with audio introductions, rich multimedia presentations, interactive games and glossary, and much, much more. The Life and Health course covers principles of insurance; types of life insurance policies; annuities; life insurance policy provisions; taxation of life insurance; types of health insurance policies; health insurance provisions; other health insurance concepts; and each state’s specific rules and regulations. In addition, the package does so using the state’s testing provider outline to ensure proper coverage of topics. The Property and Casualty course covers insurance basics; dwelling policy; homeowners policy; auto insurance; business policy; commercial package policy; workers compensation; other coverages; and each state’s specific rules and regulations. In addition, the package does so using the state’s testing provider outline to ensure proper coverage of topics.

116

Course Index
Firm Element and Insurance CE
I. Banking
Availability of Funds and Collection of Checks: A Guide to Regulation “CC” [102] __________________ Check 21: Customer Service and Teller Personnel Training [82A] ____________________________ Check 21: Operations Personnel Training [82] _______________________________________ Collection of Checks and Funds Transfers: A Guide to Regulation “J” [101] ______________________ Electronic Fund Transfers: A Guide to Regulation “E” [99] ________________________________ Home Mortgage Disclosure: A Guide to Regulation “C” [104] ______________________________ Initial Public Offerings [eLIIPO] _______________________________________________ IPO Allocations, Best Practices in [72] ___________________________________________ New and Secondary Offerings [eLINSO] __________________________________________ OFAC [80] ____________________________________________________________ Privacy Requirements for Financial Institutions [eLIPRFI] ________________________________ Private Placements [78] ___________________________________________________ Protecting Consumer Privacy: A Guide to Regulation “P” [100] _____________________________ Regulation B [88] _______________________________________________________ Truth in Lending: A Guide to Regulation “Z” [98] _____________________________________ Truth in Savings: A Guide to Regulation “DD” [103]____________________________________

1
1 1 1 1 1 1 1 1 2 2 2 2 2 2 3 3

II. General
Basic Background for Needs Selling [eLIBN] ________________________________________ Business Conduct [eLIBC] ___________________________________________________ Business Conduct for Supervisors [eLIBCS]_________________________________________ Business Continuity Plans [05Mini_BusCon] _______________________________________ Business Succession Plans [611] _______________________________________________ Business Valuation [eLIBV] __________________________________________________ Buy/Sell Agreements [eLIBSA] ________________________________________________ CFP Ethics [20CFP] _______________________________________________________ Constructing Portfolios [200] ________________________________________________ Corporate Structure and Buy/Sell Agreements, An Overview of [eLICSB] _______________________ Customer Communications [31] _______________________________________________ Customer Communications III [31B] ____________________________________________ Customer Documentation Requirements, Third Edition [42_3] ____________________________

5
5 5 5 5 5 5 6 6 6 6 6 7 7

117

Course Index II. General

Deferred Compensation Plans [613] ____________________________________________ 7 Disaster Planning [eLIDP] __________________________________________________ 7 Diversification [70] ______________________________________________________ 7 Do Not Call Registry Guidelines [84] ____________________________________________ 8 Economic Growth and Tax Relief Reconciliation Act of 2001, The [eliTRR] ______________________ 8 Effective Supervision for Investment Co & Variable Contracts Principals - Series 26 [eLIESI] ____________ 8 Electronic Communications [73]_______________________________________________ 8 Electronic Communications [eLIEC] _____________________________________________ 8 Electronic Communications for Supervisors [eLIECS] ___________________________________ 8 Employee Benefit Plans [608] ________________________________________________ 9 Code of Conduct-Daily Ethical Dilemmas [20I] ______________________________________ 9 Ethics for the Futures Industry [800] ____________________________________________ 9 Ethics II, Second Edition [20A_2] ______________________________________________ 9 Ethics III, Case Studies in Ethics and Suitability [20B] __________________________________ 9 Ethics VIII: Truth and Accuracy in Documentation [20H] ________________________________ 9 Executive Bonus Plans [614] _________________________________________________10 Financial Futures [13] _____________________________________________________10 Forms of Business Ownership [eLIFBO] ___________________________________________10 Handling Customer Accounts [eLIHCA] ___________________________________________10 Handling Customer Complaints [eLIHCC]__________________________________________10 Harassment and Discrimination [94] ____________________________________________10 Information Security Awareness [85] ____________________________________________11 Jobs and Growth Tax Relief Reconciliation Act of 2003, The [eLIJGTR] _________________________11 Key Employee Insurance [615] ________________________________________________11 Market Conduct for Financial Services Professionals [36] ________________________________11 Non-Qualified Deferred Compensation [eLIDC] ______________________________________11 Non-Registered Insurance Products, Suitability of [45] _________________________________11 Sales Training [eLIST] _____________________________________________________12 Sarbanes-Oxley Act, The Impact of the [71] ________________________________________12 Sexual Discrimination and Harassment [33_05] _____________________________________12 Sexual Discrimination and Harassment, CA version [33_CA] ______________________________12 Social Security [eLISS]_____________________________________________________12 Split-Dollar Insurance [610] _________________________________________________12 Supervision II, Remote/Independent Contractor [22AIC] ________________________________12

118

III. Institutional

Supervision II, Retail [22AR] _________________________________________________13 Technical Background for Needs Selling, Advanced [eLIADN] ______________________________13 Workers’ Compensation [eLIWC]_______________________________________________13 An Ethical Paradox-When taking Second Place Means You Win (20K) _________________________13 Insurance Ethics: Walking a Sometimes Invisible Line (117) ______________________________13

III. Institutional

15

401(k) Plans and SIMPLEs [eLI401K] ____________________________________________15 412(i) Plans [eLI412] _____________________________________________________15 Anti-Money Laundering Compliance, Advanced Concepts in [eLIACA] ________________________15 Asset Allocation, Principles of [46] _____________________________________________15 Constructing Portfolios [200] ________________________________________________15 Corporate Debt [2] _______________________________________________________16 Custody of Funds [89] _____________________________________________________16 Customer Communications III [31B] ____________________________________________16 Diversification [70] ______________________________________________________16 Economic Growth and Tax Relief Reconciliation Act of 2001, The [eLITRR] ______________________16 Electronic Communications [73]_______________________________________________16 Electronic Communications, Institutional Edition [73INST] _______________________________17 Emerging Markets [21_2] __________________________________________________17 Ethics [20]____________________________________________________________17 Ethics V, Servicing Institutional Clients [20D] _______________________________________17 Ethics VI, Conflicts of Interest [20F] _____________________________________________17 Ethics VII, Professional Responsibility in the Securities Industry [20G] ________________________18 Ethics VIII: Truth and Accuracy in Documentation [20H] ________________________________18 Fee Based Accounts [90] ___________________________________________________18 Fee-Based Accounts: Compensation [05Mini_FBC] ___________________________________18 Financial Futures [13] _____________________________________________________18 Fixed Income, Second Edition [4_2] ____________________________________________18 Hedge Funds [6001] ______________________________________________________19 Insider Trading, Second Edition [24_2] ___________________________________________19 Institutional and Proprietary Trading and Sales [27] ___________________________________19 Investment Adviser Electronic Communications [7301] _________________________________19 IPO Allocations, Best Practices in [72] ___________________________________________19 Margin Accounts [05Mini_Margin] _____________________________________________19
119

Course Index IV. Insurance & FInancial Planning

Money Laundering: The Institutional Broker-Dealer Perspective, Forth Edition [35INST_4] ____________19 Mutual Funds [05Mini_MF] _________________________________________________20 NASD Issues and Concerns Regarding Bonds and Bond Funds [76] __________________________20 New and Secondary Offerings [05Mini_NSO] _______________________________________20 OFAC [80] ____________________________________________________________20 Options [6] ___________________________________________________________20 Pension Basics [eLIPB] ____________________________________________________20 Privacy Requirements for Financial Institutions [eLIPRFI] ________________________________20 Private Placements [78] ___________________________________________________21 Regulatory Focus: Research Analysts [05Mini_RA] ____________________________________21 Regulatory Focus: Bond Sales [05Mini_Bonds] _____________________________________21 Research Analysts and Conflicts of Interest [6201] ____________________________________21 Research Analysts and Conflicts of Interest: Supervisory Concerns [6202] ______________________21 Retirement Plans II, Second Edition [25_2] ________________________________________21 Securities Regulatory Essentials for Financial Professionals [40G] ___________________________22 Short Sales [05Mini_ShortSales] ______________________________________________22 Suitability Concept, Series 6 Edition, Understanding the [39_S6] ___________________________22 Supervision II, Institutional Version[22AI] _________________________________________22 Supervisor Update on Mutual Fund Sales Practices [2201] _______________________________22 Tax-Qualified Plans [eLITQP] _________________________________________________22 Hedge Funds: The Highlights [05Mini_HF] ________________________________________23 U S Government Debt [3] ___________________________________________________23 Unit Investment Trusts [05Mini_UIT] ____________________________________________23 Unit Investment Trusts [11] _________________________________________________23 Wrap Accounts [17] ______________________________________________________23

IV. Insurance & Financial Planning

25

401(k) Plans and SIMPLEs [eLI401K] ____________________________________________25 412(i) Plans [eLI412] _____________________________________________________25 529 Plans and Other College Savings Programs [53] ___________________________________25 Advanced 403(b) Plans [eLIA403] ______________________________________________25 Agent’s Role and Responsibilities, An [eLIARR] ______________________________________25 Annuities [eLIANN] ______________________________________________________25 Annuities, An Overview of [eLIOA] _____________________________________________25 Anti-Money Laundering for Insurance [79] ________________________________________26
120

IV. Insurance & FInancial Planning

Asset Allocation Strategies [eLIAAS] ____________________________________________26 Asset Allocation, Principles of [46] _____________________________________________26 Basic Background for Needs Selling [eLIBN] ________________________________________26 Building a College Education Fund [eLIBCE] ________________________________________26 Business Insurance [609] ___________________________________________________26 Business Insurance, An Overview of [eLIBI] ________________________________________27 Business Succession Plans [611] _______________________________________________27 California Annuity 2004 Training [77] ___________________________________________27 California Long Term Care [eLICALTC] ____________________________________________27 California Long Term Care [SSI5] _______________________________________________27 Collateralized Mortgage Obligations [eLICMO] ______________________________________27 Commercial Property Insurance [eLICMP] _________________________________________28 Communications with the Public for Supervisors [eLICPS] _______________________________28 Comprehensive Personal Liability Policy [eLICPL]_____________________________________28 Constructing Portfolios [200] ________________________________________________28 Contract, The [eLICON] ____________________________________________________28 Customer Communications [31] _______________________________________________28 Deferred Compensation Plans [613] ____________________________________________29 Deferred Compensation, An Overview of [eLIODC] ____________________________________29 Defined Benefit Plans, A Guide to [9601] _________________________________________29 Defined Contribution Plans, A Guide to [9602] ______________________________________29 Disability Income Insurance [602]______________________________________________29 Disability Income Insurance [eLIDI] _____________________________________________29 Disability Income, An Overview of [eLIODI] ________________________________________30 Disaster Planning [eLIDP] __________________________________________________30 Diversification [70] ______________________________________________________30 Electronic Communications [73]_______________________________________________30 Employee Benefit Plans [608] ________________________________________________30 Equity Indexed Annuities [93] ________________________________________________30 Estate Planning [28]______________________________________________________31 Estate Planning II, Second Edition [28A_2] ________________________________________31 Ethical Conduct in the Financial Services Practice [eLIETH] _______________________________31 Ethics for Investment Banking Personnel [20J] ______________________________________31 Ethics III, Case Studies in Ethics and Suitability [20B] __________________________________31 Ethics in Insurance [606] ___________________________________________________31

121

Course Index IV. Insurance & Financial Planning

Ethics IV, Case Studies in Ethics for Retail Sales Professionals [20C] __________________________31 Executive Bonus Plans [614] _________________________________________________32 Federal Estate Tax Liability, Planning for the [eLIFET] __________________________________32 Financial Aid Strategies for College [eLIFAS] ________________________________________32 Financial Planning with Charitable Remainder Trusts [54] _______________________________32 Financial Planning with Variable Annuities [47] _____________________________________32 Fixed and Variable Annuities [19] ______________________________________________33 Fixed and Variable Life Insurance [8] ____________________________________________33 Group Dental and Vision Insurance [eLIGDV] _______________________________________33 Group Disability Insurance [eLIGDI] _____________________________________________33 Group Health Insurance [eLIGHI] ______________________________________________33 Group Insurance [eLIGRI] ___________________________________________________34 Group Insurance, An Overview of [eLIGI] __________________________________________34 Group Insurance, Basic [604] _________________________________________________34 Group Life Insurance [eLIGLI] ________________________________________________34 Health and Disability Insurance [601] ___________________________________________34 Health Insurance, An Overview of [eLIHI] _________________________________________34 Health Savings Accounts [eLIHSA] _____________________________________________35 HIPAA, Introduction to [eLIHIPAA] _____________________________________________35 Homeowners and Dwelling Insurance [eLIHDI] ______________________________________35 Homeowners Rating [eLIHR] _________________________________________________35 Individual Retirement Accounts [eLIIRA] __________________________________________35 Industry, The [eLIIND] _____________________________________________________36 Information Security Awareness [85] ____________________________________________36 Inland Marine Insurance [eLIIMI] ______________________________________________36 Insurance Buy/Sell Business Valuation [eLIBSV] _____________________________________36 Insurance Law [607] ______________________________________________________36 Insurance Products, An Overview of [eLIIP] ________________________________________36 Insuring the Corporate Executive [eLIIC] __________________________________________37 Interest-Sensitive and Adjustable Policies, An Overview of [eLIISAP] _________________________37 Investment Factors, Objectives and Risks [eLIIF] _____________________________________37 IRA, SEP and Keogh Plans [eLIISK] _____________________________________________37 Keogh Plans [eLIKP] ______________________________________________________37 Key Employee Insurance [615] ________________________________________________38

122

IV. Insurance & FInancial Planning

Life Insurance and Annuity Replacement [eLILAR] ____________________________________38 Life Insurance Comparisons [605] ______________________________________________38 Life Insurance Sales Cycle, An Overview of the [eLIOLS] _________________________________38 Long Term Care [eLILTC] ____________________________________________________38 Long Term Care, [600] _____________________________________________________38 Managed Health Care [603] _________________________________________________39 Medicaid [eLIMDD] ______________________________________________________39 Medicare [eLIMDC] ______________________________________________________39 Medigap [eLIMDG] ______________________________________________________39 Miscellaneous Personal Lines Policies [eLIMPL] ______________________________________39 Myths of Annuities [95] ____________________________________________________39 New Rules for IRA Distribution Planning, The [51_2] __________________________________39 Pension Basics [eliPB] _____________________________________________________40 Pension Planning, A Guide to [96] _____________________________________________40 Permanent Whole Life Insurance [eLIWL] _________________________________________40 Personal Auto Rating [eLIPAR] ________________________________________________40 Personal Automobile Insurance [eLIPAI] __________________________________________40 Personal Automobile Insurance Basics [eLIPAB] _____________________________________40 Personal Umbrella Policy [eLIPUP] _____________________________________________40 Premium Factors, Dividends and Death Benefits, An Overview of [eLIPF] ______________________41 Property and Casualty Concepts [eLIPCC] _________________________________________41 Property Insurance, Principles of [eLIPPI] _________________________________________41 Protection Against Terrorism [PAT] _____________________________________________41 Qualified Retirement Plans, An Overview of [eLIQRP] __________________________________41 Retirement Distributions, Planning for [eLIPRD] _____________________________________41 Retirement Plan Rollovers [eLIRPR] _____________________________________________42 Retirement Plans II, Second Edition [25_2] ________________________________________42 Risk Management [eLIRM] __________________________________________________42 Sale of Variable Annuities to Seniors [1903] ________________________________________42 Sarbanes-Oxley Act of 2002, The [eLISOA] _________________________________________42 Section 529 Plans [529]____________________________________________________42 Senior Protection in Annuity Transactions [91] ______________________________________43 Separate Accounts and Variable Products [eLISAVP] ___________________________________43 Simplified Employee Pension Plans [eLISEP] _______________________________________43 An Overview of Small Business Retirement Plans [9604] ________________________________43

123

Course Index IV. Insurance & Financial Planning

Split Dollar Insurance [610] _________________________________________________43 Split Dollar Insurance [eLISD] ________________________________________________44 Split Dollar Insurance, An Overview of [eLIOSD] _____________________________________44 Standard Fire Policy [eLISFP] _________________________________________________44 Survivorship Life Insurance, Introduction to [eLISLI] ___________________________________44 Taxation of Life Insurance Products, Second Edition [37_2] ______________________________44 Tax-Favored College Savings Plans [eLITFC] ________________________________________44 Tax-Qualified Plans [eLITQP] _________________________________________________45 Technical Background for Needs Selling, Advanced [eLIADN] ______________________________45 Term and Permanent Insurance, An Overview of [eLITPI] ________________________________45 Term Insurance [eLITI] ____________________________________________________45 Today’s Insurance Professional [IP1] ____________________________________________45 Unauthorized Insurance Entities [74] ____________________________________________45 Universal Life Insurance [eLIUL] _______________________________________________46 Variable Annuities and Their Suitability [52] _______________________________________46 Variable Annuities in Tax Advantaged Accounts [1901] _________________________________46 Variable Annuities in Tax Advantaged Accounts, Supervisors Edition [1902] _____________________46 Variable Annuities, Advanced [19A] ____________________________________________46 Variable Annuities, Suitability Issues of [eLISVA] _____________________________________47 Variable Life Insurance [48] _________________________________________________47 Variable Life Insurance, An Overview of [eLIOVL] _____________________________________47 Variable Life Insurance, Suitability Issues of [eLISVL] __________________________________47 Variable Products, Suitability of [32] ____________________________________________47 Variable Universal Life Insurance [34] ___________________________________________48 Variable Universal Life Insurance [eLIVUL/83]_______________________________________48 Workers’ Compensation [eLIWC]_______________________________________________48 Overview of 401(k) Plans (9603) ______________________________________________48 Development and Operation of Equity Indexed Annuities, The (107) _________________________48 Selling and Exchanging Annuities-A Look at Suitability Issues (108) _________________________48 Section 529 Qualified Tuition Plan Suitability Issues (109) _______________________________49 Variable Annuity Living Benefit Riders: Operation and Suitability (110) _______________________49 Income Taxation of Life Insurance (111) __________________________________________49 Understanding Variable Annuities: Functions, Benefits, Limitations and Needs (112) _______________49 Overview of Medicare Part D, An (116) ___________________________________________49 Insurance Ethics: Walking a Sometimes Invisible Line (117) ______________________________49

124

V. Investment Advisor

POPs, FSAs, HRAs and HSAs: Combining Benefits (118) _________________________________50 College Savings: Planning for A Child’s Future (119) ___________________________________50 Income Taxation of Non-Qualified Annuities (120) ____________________________________50 Retirement Planning for Seniors: Helping Our Clients Take Charge (123)_______________________50 Insurance Law for the Oregon Life Insurance Producer (607_OR) ___________________________50 When Recommending Annuities Makes Sense: California 4 Hour Course (77A) ___________________50

V. Investment Advisor

51

401(k) Plans and SIMPLEs [eLI401K] ____________________________________________51 529 Plans and Other College Savings Programs [53] ___________________________________51 Alternative Investments: Asset Backed Securities [05Mini_AltInv] __________________________51 Annuities, An Overview of [eLIOA] _____________________________________________51 Anti-Money Laundering [05Mini_AML] __________________________________________51 Anti-Money Laundering Update Year 2003, Second Edition [35AU03_2] _______________________51 Anti-Money Laundering Update Year 2004 [35AU04] __________________________________52 Anti-Money Laundering Update Year 2005 [35AU05] __________________________________52 Asset Allocation, Principles of [46] _____________________________________________52 Asset-Backed Debt [16] ____________________________________________________52 Bank Secrecy Act Reporting Requirements [3504] ____________________________________52 Brokered Certificates of Deposit [10A] ___________________________________________52 Business Continuity Plans [05Mini_BusCon] _______________________________________53 CDs and Money Markets [10]_________________________________________________53 CFP Ethics [20CFP] _______________________________________________________53 Constructing Portfolios [200] ________________________________________________53 Corporate Debt [2] _______________________________________________________53 Currency Transaction Reporting [3502]___________________________________________53 Customer Account Transfers [05Mini_CAT] ________________________________________53 Customer Communications [31] _______________________________________________54 Customer Communications II, Series 6 Edition [31A_S6] ________________________________54 Customer Communications II, Series 7 Edition [31A_S7] ________________________________54 Customer Communications III [31B] ____________________________________________54 Customer Disclosure: The Interagency Statement and NASD Rule 2350 [43] _____________________54 Customer Identification Procedures [3501] ________________________________________55 Day Trading: Margin Requirements [05Mini_DayTrad] _________________________________55 Direct Investments [12] ____________________________________________________55
125

Course Index V. Investment Advisor

Diversification [70] ______________________________________________________55 Do Not Call Registry [05Mini_DNC] _____________________________________________55 Electronic Communications [73]_______________________________________________55 Emerging Markets [21_2] __________________________________________________56 Estate Planning [28]______________________________________________________56 Estate Planning II, Second Edition [28A_2] ________________________________________56 Ethics [05Mini_Ethic] _____________________________________________________56 Ethics [20]____________________________________________________________56 Ethics III, Case Studies in Ethics and Suitability [20B] __________________________________56 Ethics IV, Case Studies in Ethics for Retail Sales Professionals [20C] __________________________56 Ethics V, Servicing Institutional Clients [20D] _______________________________________57 Ethics VI, Conflicts of Interest [20F] _____________________________________________57 Ethics VII, Professional Responsibility in the Securities Industry [20G] ________________________57 Ethics VIII: Truth and Accuracy in Documentation [20H] ________________________________57 Fee-Based Accounts: Compensation [05Mini_FBC] ___________________________________57 Financial Futures [13] _____________________________________________________57 Financial Planning with Charitable Remainder Trusts [54] _______________________________57 Financial Planning with Variable Annuities [47] _____________________________________58 Fixed Income, Second Edition [4_2] ____________________________________________58 Fixed Rate Products, Suitability of [58] ___________________________________________58 Focus on Mutual Fund Sales Practices [4104] _______________________________________58 Fundamentals of AML for Registered Representatives [3505] _____________________________58 Guiding Clients Through Difficult Markets [57] ______________________________________58 Hedge Funds [6001] ______________________________________________________58 Hedge Funds: The Highlights [05Mini_HF] ________________________________________59 The Impact of the Gramm-Leach-Bliley Financial Modernization Act [44] ______________________59 Index Options [7] _______________________________________________________59 Insider Trading, Second Edition [24_2] ___________________________________________59 Institutional and Proprietary Trading and Sales [27] ___________________________________59 Investment Advisers [30] ___________________________________________________59 Investment Advisers II [30A] _________________________________________________59 Lending Restrictions [05Mini_LendRes] __________________________________________60 Long Term Care, [600] _____________________________________________________60 Margin Accounts [05Mini_Margin] _____________________________________________60 Margins [26] __________________________________________________________60

126

V. Investment Advisor

Margins II [26A] ________________________________________________________60 Market Conduct for Financial Services Professionals [36] ________________________________60 Money Laundering: The Institutional Broker-Dealer Perspective, Third Edition [35INST_4] ____________61 Municipal Debt, Second Edition [15_2] __________________________________________61 Mutual Fund Breakpoints [4101] ______________________________________________61 Mutual Fund Multi-Class Shares, Third Edition [41_3] __________________________________61 Mutual Funds [05Mini_MF] _________________________________________________61 New and Secondary Offerings [05Mini_NSO] _______________________________________61 Rules for IRA Distribution Planning, The [51_2] _____________________________________62 Non-Registered Insurance Products, Suitability of [45] _________________________________62 Options [6] ___________________________________________________________62 Options II [6A] _________________________________________________________62 OTC Equities, Second Edition [14_2] ____________________________________________62 Penny Stocks [18] _______________________________________________________63 Preventing AML: Private Banking Accounts for Foreign Persons [3506] ________________________63 Preventing AML: Senior Foreign Political Figures Accounts [3507] ___________________________63 Preventing and Detecting Money Laundering II: Case Studies, Second Edition [35A_2] ______________63 Preventing and Detecting Money Laundering, Second Edition [35_2] ________________________63 Private Securities Transactions and Selling away [05Mini_PTSA] ___________________________63 Regulation M [5] ________________________________________________________64 Regulatory Focus- Research Analysts [05Mini_RA] ___________________________________64 Regulatory Focus: Bond Sales [05Mini_Bonds] _____________________________________64 Replacements, 1035 Exchanges and Mutual Fund Switches [55]____________________________64 Research Analysts and Conflicts of Interest [6201] ____________________________________64 Retirement Plans II, Second Edition [25_2] ________________________________________64 Sale of Variable Annuities to Seniors [1903] ________________________________________65 Section 529 Plans [529]____________________________________________________65 Securities Regulatory Essentials for Financial Professionals [40G] ___________________________65 Short Sales [05Mini_ShortSales] ______________________________________________65 Suitability Concept, Series 6 Edition, Understanding the [39_S6] ___________________________66 Suitability Concept, Series 7 Edition, Understanding the [39_S7] ___________________________66 Supervision II, Retail [22AR] _________________________________________________66 Supervisor Update on Mutual Fund Sales Practices [2201] _______________________________66 Taxation of Life Insurance Products, Second Edition [37_2] ______________________________66 U S Government Debt [3] ___________________________________________________66

127

Course Index V. Investment Advisor

Unit Investment Trusts [05Mini_UIT] ____________________________________________66 Unit Investment Trusts [11] _________________________________________________67 Variable Annuities and Their Suitability [52] _______________________________________67 Variable Annuities in Tax Advantaged Accounts [1901] _________________________________67 Variable Annuities, Advanced [19A] ____________________________________________67 Variable Life Insurance [48] _________________________________________________67 Variable Products, Suitability of [32] ____________________________________________68 Variable Universal Life Insurance [34] ___________________________________________68 Wrap Accounts [17] ______________________________________________________68 412(i) Plans [eLI412] _____________________________________________________68 Advanced 403(b) Plans [eLIA403] ______________________________________________68 Anti-Money Laundering Compliance, Advanced Concepts in [eLIACA] ________________________68 Asset Allocation Strategies [eLIAAS] ____________________________________________69 Brokered CDs [eLIBCD] ____________________________________________________69 Building a College Education Fund [eLIBCE] ________________________________________69 Business Conduct [eLIBC] ___________________________________________________69 Certificates of Deposit [eLICD] ________________________________________________69 Collateralized Mortgage Obligations [eLICMO] ______________________________________69 Communications with the Public [eLICP]__________________________________________70 Custody of Funds [89] _____________________________________________________70 Direct Participation Plans [92] ________________________________________________70 Do Not Call Registry Guidelines [84] ____________________________________________70 Economic Growth and Tax Relief Reconciliation Act of 2001, The [56] _________________________70 Economic Growth and Tax Relief Reconciliation Act of 2001, The [eLITRR] ______________________70 Electronic Communications [eLIEC] _____________________________________________71 Electronic Communications, Institutional Edition [73INST] _______________________________71 Equity Index Products [eLIEIP] ________________________________________________71 Ethical Conduct in the Financial Services Practice [eLIETH] _______________________________71 Ethics for the Futures Industry [800] ____________________________________________71 Exchanges and the OTC Market, The [eLIEX] ________________________________________71 Federal Securities Rules and Regulations [eLIFRR] ____________________________________72 Fee Based Accounts [90] ___________________________________________________72 General Suitability Issues [eLIGSI] ______________________________________________72 Government Securities [eLIGS] _______________________________________________72 Individual Retirement Accounts [eLIIRA] __________________________________________72

128

V. Investment Advisor

Insider Trading [eLIINT] ____________________________________________________72 Investment Adviser Electronic Communications [7301] _________________________________73 Investment Adviser Update 2005 [87] ___________________________________________73 Investment Advisers [30] ___________________________________________________73 Investment Advisers II [30A] _________________________________________________73 Investment Products, An Overview of [eLIIVP] ______________________________________73 IRA, SEP and Keogh Plans [eLIISK] _____________________________________________73 Jobs and Growth Tax Relief Reconciliation Act of 2003, The [JGTR] __________________________74 Keogh Plans [eLIKP] ______________________________________________________74 Margin Accounts [eLIMA] ___________________________________________________74 Market Timing [81] ______________________________________________________74 Money Laundering [eLIML] _________________________________________________74 Multiclass Shares [eLIMC] __________________________________________________74 Municipal Bonds [eLIMB] ___________________________________________________75 Mutual Fund Breakpoints [eLIMFBP] ____________________________________________75 Mutual Funds [9]________________________________________________________75 Mutual Funds [eLIMF] _____________________________________________________75 Mutual Funds, Advanced [9A] ________________________________________________75 Mutual Funds, Suitability Issues of [eLISMF] _______________________________________75 NASD Issues and Concerns Regarding Bonds and Bond Funds [76] __________________________76 NASD Rules and Regulations [eLINRR] ___________________________________________76 New and Secondary Offerings [eLINSO] __________________________________________76 OFAC [80] ____________________________________________________________76 Online Suitability [eLIOS] ___________________________________________________76 Options Trading [eLIOPT] ___________________________________________________76 Pension Basics [eLIPB] ____________________________________________________76 Private Placements [78] ___________________________________________________77 Registration and Reporting Issues [eLIRRI] ________________________________________77 Retirement Distributions, Planning for [eLIPRD] _____________________________________77 Retirement Plan Rollovers [eLIRPR] _____________________________________________77 Senior Protection in Annuity Transactions [91] ______________________________________77 Separate Accounts and Variable Products [eLISAVP] ___________________________________77 Simplified Employee Pension Plans [eLISEP] _______________________________________78 Suitability Issues, Advanced [eLIADS] ___________________________________________78 Tax-Favored College Savings Plans [eLITFC] ________________________________________78

129

Course Index VI. Securities

Tax-Qualified Plans [eLITQP] _________________________________________________78 Today’s Insurance Professional [IP1] ____________________________________________78 Universal Life Insurance [eLIUL] _______________________________________________78 Variable Annuities, Suitability Issues of [eLISVA] _____________________________________79 Variable Life Insurance, An Overview of [eLIOVL] _____________________________________79 Variable Life Insurance, Suitability Issues of [eLISVL] __________________________________79 Variable Universal Life Insurance [eLIVUL] _________________________________________79 Wrap Fee Programs [eLIWFP] ________________________________________________79 Financial Aid Strategies for College [eLIFAS] ________________________________________80 Investment Factors, Objectives and Risks [eLIIF] _____________________________________80 Private Securities Transactions and Selling away [05Mini_PTSA] ___________________________80 Alternative Investments: Asset Backed Securities [05Mini_AltInv] __________________________80 Annuities [eLIANN] ______________________________________________________80 Annuities, An Overview of [eLIOA] _____________________________________________80 Anti-Money Laundering [05Mini_AML] __________________________________________81 Anti-Money Laundering Compliance, Advanced Concepts in [eLIACA] ________________________81 Anti-Money Laundering Update Year 2003, Second Edition [35AU03_2] _______________________81 Anti-Money Laundering Update Year 2004 [35AU04] __________________________________81 Anti-Money Laundering Update Year 2004 [35AU04] __________________________________81 Anti-Money Laundering Update Year 2005 [35AU05] __________________________________81 Asset Allocation Strategies [eLIAAS] ____________________________________________82 Asset Allocation, Principles of [46] _____________________________________________82 Asset-Backed Debt [16] ____________________________________________________82 Asset-Backed Securities [86] _________________________________________________82 Bank Secrecy Act Reporting Requirements [3504] ____________________________________82 Brokered CDs [eLIBCD] ____________________________________________________82 Brokered Certificates of Deposit [10A] ___________________________________________83 Business Conduct [eLIBC] ___________________________________________________83 Changing Landscape of Investment Adviser Regulation, The (113) __________________________83 Internal Revenue Code 1031: Nontaxable Exchanges (115) ______________________________83 An Overview of AML Events of 2005 (3508) ________________________________________83 Structured Products-More Innovation, More Regulation (122) _____________________________83 Equity Indexed Annuities-Supervision (121) _______________________________________84

VI. Securities

85

130

VI. Securities

Business Conduct for Supervisors[eLIBCS] _________________________________________85 Business Continuity Plans [05Mini_BusCon] _______________________________________85 CDs and Money Markets [10]_________________________________________________85 Certificates of Deposit [eLICD] ________________________________________________85 Collateralized Mortgage Obligations [eLICMO] ______________________________________85 Communications with the Public [eLICP]__________________________________________85 Corporate Debt [2] _______________________________________________________86 Currency Transaction Reporting [3502]___________________________________________86 Custody of Funds [89] _____________________________________________________86 Customer Account Transfers [05Mini_CAT] ________________________________________86 Customer Accounts, Trade and Settlement Practices [eLICATS] _____________________________86 Customer Arbitration and Mediation in the Securities Industry [eLICAM] ______________________86 Customer Communications [31] _______________________________________________87 Customer Communications II, Series 6 Edition [31A_S6] ________________________________87 Customer Communications II, Series 7 Edition [31A_S7] ________________________________87 Customer Disclosure: The Interagency Statement and NASD Rule 2350 [43] _____________________87 Customer Identification Procedures [3501] ________________________________________87 Data Retention [05Mini_DatRet] ______________________________________________88 Day Trading: Margin Requirements [05Mini_DayTrad] _________________________________88 Direct Investments [12] ____________________________________________________88 Direct Participation Plans [92] ________________________________________________88 Do Not Call Registry Guidelines [84] ____________________________________________88 Economic Growth and Tax Relief Reconciliation Act of 2001, The [56] _________________________88 Economic Growth and Tax Relief Reconciliation Act of 2001, The [eLITRR] ______________________89 Effective Supervision for General Securities Principals - Series 24 [eLIESG] ______________________89 Effective Supervision for Investment Co & Variable Contracts Principals Series 26 [eLIESI] _____________89 Effective Supervision: Interviewing, Hiring and Terminating Registered Representatives [eLIIHT] ________89 Electronic Communications [73]_______________________________________________89 Electronic Communications [eLIEC] _____________________________________________90 Emerging Markets [21_2] __________________________________________________90 Equity Index Products [eLIEIP] ________________________________________________90 Equity Indexed Annuities [93] ________________________________________________90 Ethics [20]____________________________________________________________90 Ethics for Investment Banking Personnel [20J] ______________________________________90 Code of Conduct-Daily Ethical Dilemmas [20I] ______________________________________91

131

Course Index VI Securities

Ethics II, Second Edition [20A_2] ______________________________________________91 Ethics III, Case Studies in Ethics and Suitability [20B] __________________________________91 Ethics VI, Conflicts of Interest [20F] _____________________________________________91 Ethics VII, Professional Responsibility in the Securities Industry [20G] ________________________91 Ethics VIII: Truth and Accuracy in Documentation [20H] ________________________________91 Exchanges and the OTC Market, The [eLIEX] ________________________________________91 Federal Securities Rules and Regulations [eLIFRR] ____________________________________92 Fee Based Accounts [90] ___________________________________________________92 Fee-Based Accounts: Compensation [05Mini_FBC] ___________________________________92 Financial Planning with Variable Annuities [47] _____________________________________92 Fixed and Variable Annuities [19] ______________________________________________92 Fixed Income, Second Edition [4_2] ____________________________________________92 Fixed Rate Products, Suitability of [58] ___________________________________________93 Floor Communications: Conducting a Public Business on the NYSE Trading Floor [05Mini_FloorCom] _____93 Focus on Mutual Fund Sales Practices [4104] _______________________________________93 Fundamentals of AML for Non-Registered Professionals [3503] ____________________________93 Fundamentals of AML for Registered Representatives [3505] _____________________________93 General Suitability Issues [eLIGSI] ______________________________________________93 Government Securities [eLIGS] _______________________________________________94 Guiding Clients Through Difficult Markets [57] ______________________________________94 Handling Customer Accounts [eLIHCA] ___________________________________________94 Handling Customer Accounts for Supervisors [eLIHCAS] _________________________________94 Hedge Funds [6001] ______________________________________________________94 Hedge Funds: The Highlights [05Mini_HF] ________________________________________94 Highlights of the Sarbanes-Oxley Act [105] ________________________________________95 Impact of the Gramm-Leach-Bliley Financial Modernization Act, The [44] ______________________95 Index Options [7] _______________________________________________________95 Information Security Awareness [85] ____________________________________________95 Initial Public Offerings [eLIIPO] _______________________________________________95 Insider Trading [eLIINT] ____________________________________________________95 Insider Trading, Second Edition [24_2] ___________________________________________96 Investment Advisers [30] ___________________________________________________96 Investment Advisers II [30A] _________________________________________________96 Investment Products, An Overview of [eLIIVP] ______________________________________96 Lending Restrictions [05Mini_LendRes] __________________________________________96

132

VI. Securities

Life Insurance and Annuity Replacement [eLILAR] ____________________________________96 Listed Equities, Second Edition [1_2] ____________________________________________96 Margin Accounts [05Mini_Margin] _____________________________________________97 Margin Accounts [eLIMA] ___________________________________________________97 Margins [26] __________________________________________________________97 Margins II [26A] ________________________________________________________97 Market Timing [81] ______________________________________________________97 Markets and Market Making [29A] _____________________________________________97 Money Laundering [eLIML] _________________________________________________98 Multiclass Shares [eLIMC] __________________________________________________98 Municipal Bonds [eLIMB] ___________________________________________________98 Municipal Debt, Second Edition [15_2] __________________________________________98 Mutual Fund Breakpoints [4101] ______________________________________________98 Mutual Fund Breakpoints [eLIMFBP] ____________________________________________98 Mutual Fund Multi-Class Shares, Third Edition [41_3] __________________________________99 Mutual Funds [05Mini_MF] _________________________________________________99 Mutual Funds [9]________________________________________________________99 Mutual Funds [eLIMF] _____________________________________________________99 Mutual Funds, Advanced [9A] ________________________________________________99 Mutual Funds, Suitability Issues of [eLISMF] _______________________________________99 NASD Issues and Concerns Regarding Bonds and Bond Funds [76] _________________________ 100 NASD Rules and Regulations [eLINRR] __________________________________________ 100 New and Secondary Offerings [05Mini_NSO] ______________________________________ 100 New and Secondary Offerings [eLINSO] _________________________________________ 100 Non-Qualified Deferred Compensation [eLIDC] _____________________________________ 100 OFAC [80] ___________________________________________________________ 100 Online Suitability [eLIOS] __________________________________________________ 101 Online Trading [38] _____________________________________________________ 101 Options [6] __________________________________________________________ 101 Options II [6A] ________________________________________________________ 101 Options Trading [eLIOPT] __________________________________________________ 101 OTC Equities, Second Edition [14_2] ___________________________________________ 101 Penny Stocks [18] ______________________________________________________ 102 Preventing AML: Private Banking Accounts for Foreign Persons [3506] _______________________ 102 Preventing AML: Senior Foreign Political Figures Accounts [3507] __________________________ 102

133

Course Index VI Securities

Preventing and Detecting Money Laundering II: Case Studies, Second Edition [35A_2] _____________ 102 Preventing and Detecting Money Laundering, Second Edition [35_2] _______________________ 102 Private Placements [78] __________________________________________________ 102 Registration and Reporting Issues [eLIRRI] _______________________________________ 103 Regulation M [5] _______________________________________________________ 103 Regulatory Focus- Research Analysts [05Mini_RA] __________________________________ 103 Regulatory Focus: Bond Sales [05Mini_Bonds] ____________________________________ 103 Replacements, 1035 Exchanges and Mutual Fund Switches [55]___________________________ 103 Reporting and Disclosure: The TRACE System [05Mini_RandD] ___________________________ 103 Research Analysts and Conflicts of Interest [6201] ___________________________________ 103 Research Analysts and Conflicts of Interest: Supervisory Concerns [6202] _____________________ 104 Sale of Variable Annuities to Seniors [1903] _______________________________________ 104 Sale of Variable Annuities to Seniors, Supervisory Concerns [1904] _________________________ 104 Sarbanes-Oxley Act of 2002, The [eLISOA] ________________________________________ 104 Sarbanes-Oxley Act, The Impact of the [71] _______________________________________ 104 SEC’s Books and Records Rule, The [63] __________________________________________ 104 Securities Fundamentals for Sales Assistants [59] ___________________________________ 105 Securities Regulatory Essentials for Financial Professionals [40G] __________________________ 105 Sexual Discrimination and Harassment [33_05] ____________________________________ 105 Sexual Discrimination and Harassment, CA version [33_CA] _____________________________ 105 Short Sales [05Mini_ShortSales] _____________________________________________ 105 Suitability Concept, Series 6 Edition, Understanding the [39_S6] __________________________ 105 Suitability Concept, Series 7 Edition, Understanding the [39_S7] __________________________ 105 Suitability Issues, Advanced [eLIADS] __________________________________________ 105 Supervision [22] _______________________________________________________ 106 Supervisor Update on Mutual Fund and Annuity Sales Practices [2202] ______________________ 106 Supervisor Update on Mutual Fund Sales Practices [2201] ______________________________ 106 Supervisory Duties from Pre-Hire to Termination Year 2000 Update [22AU00]___________________ 106 Supervisory Update 2003 - Series 26 Supervisors [22AU03_26] ___________________________ 106 Supervisory Update Year 2001 [22AU01]_________________________________________ 106 Supervisory Update Year 2002 [22AU02]_________________________________________ 106 Supervisory Update Year 2003 [22AU03]_________________________________________ 107 Supervisory Update Year 2004 [22AU04]_________________________________________ 107 Supervisory Update Year 2005 [22AU05]_________________________________________ 107 U S Government Debt [3] __________________________________________________ 107

134

VI. Securities

Unit Investment Trusts [05Mini_UIT] ___________________________________________ 107 Supervising the Sales of Unregistered Equity Indexed Annuities (97) ________________________ 107 Anti-Money Laundering Update 2006, covering events of 2005 (35AU06) _____________________ 107 Supervisory Update 2006, Covering Events of 2005 (22AU06) ____________________________ 108 Unit Investment Trusts [11] ________________________________________________ 108 Variable Annuities in Tax Advantaged Accounts [1901] ________________________________ 108 Variable Annuities in Tax Advantaged Accounts, Supervisors Edition [1902] ____________________ 108 Variable Annuities, Advanced [19A] ___________________________________________ 108 Variable Annuities, Suitability Issues of [SVA] ______________________________________ 109 Variable Products, Suitability of [32] ___________________________________________ 109 Variable Universal Life Insurance [34] __________________________________________ 109 Wrap Accounts [17] _____________________________________________________ 109 Wrap Fee Programs [WFP] _________________________________________________ 109 Variable Annuity Living Benefit Riders: Operation and Suitability (110) ______________________ 110 SEC Regulation of Soft Dollar Arrangements (114) ___________________________________ 110 Overview of the Equity Trader Examination (124) ___________________________________ 110 An Overview of AML Events of 2005 (3508) _______________________________________ 110 Equity Indexed Annuities-Supervision (121) ______________________________________ 110 Structured Products-More Innovation, More Regulation (122) ____________________________ 110

135

Course Index Financial Training

Financial Training
I. NASD Exam Preparation 113

NASD Exam Prep Series 6 (Investment Company/ Variable Contracts Representative) [EP_S6] ________ 113 NASD Exam Prep Series 7 (General Securities Representative) [EP_S7] _______________________ 113 NASD Exam Prep Series 26 (Investment Company/ Variable Contracts Principal) [EP_S26] ___________ 113 NASD Exam Prep Series 24 (General Securities Principal) [EP_S24] _________________________ 113 NASD Exam Prep Series 9 (General Securities Sales Supervisor – Option Module) [EP_S9} ___________ 113 NASD Exam Prep Series 10 (General Securities Sales Supervisor-General Module) [EP_S10] __________ 113 NASAA Exam Prep Series 63 (Uniform Securities State Law Exam) [EP_S63] ___________________ 114 NASAA Exam Prep Series 65 (Investment Advisor Law Exam) [EP_S65] ______________________ 114 NASAA Exam Prep Series 66 (Uniform Combined State Law Exam) [EP_S66] ___________________ 114

II. Insurance Pre-licensing

115

Listen UP! Life and Health and/or Property and Casualty _______________________________ 115 The Exam Simulator Life and Health and/or Property Casualty ____________________________ 115 The Exam Simulator PASS Package for Life and Health and/or Property and Casualty ______________ 115 ExamFX for Life and Health and/or Property and Casualty ______________________________ 116

Course Index 117

136

137