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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 require-
ments 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 1

I. Banking 1

II. General 5

III. Institutional 15

IV. Insurance & Financial Planning 25

V. Investment Advisor 51

VI. Securities 85

Financial Training 111

I. NASD Exam Preparation 113

II. Insurance Pre-licensing 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 broker-
dealers 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. Banking 1

II. General 5

III. Institutional 15

IV. Insurance & Financial Planning 25

V. Investment Advisor 51

VI. Securities 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.

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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.

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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.

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Notes

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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.

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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.

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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.

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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.

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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.

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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 self-
insurance. 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 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 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 short-
swing 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 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.

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, split-
dollar 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 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.

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 Medi-
Cal (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 catch-
up 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.

30
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.

31
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.

33
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.

34
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.

35
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.

37
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.

39
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.

41
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 income-
producing 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.

44
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 non-
forfeiture 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 Gramm-
Leach-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 self-
insurance. 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 declared-
rate, 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.

48
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.

50
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 self-
liquidating 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.

52
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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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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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.

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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 short-
swing 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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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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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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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 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.

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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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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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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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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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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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-by-
step guideline for reading stock and bond quotations.

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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 fee-
based 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.

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V. Investment Advisor

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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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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V. Investment Advisor

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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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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V. Investment Advisor

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 income-
producing 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 Gramm-
Leach-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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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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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 asset-
backed 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.

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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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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.

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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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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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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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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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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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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.

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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-by-
step guide for reading stock and bond quotations.

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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 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 teach the student to be able to 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 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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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.

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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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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 short-
swing 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.

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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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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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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.

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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.

101
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.

103
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.

106
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.

107
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.

109
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. NASD Exam Preparation 113

II. Insurance Pre-Licensing 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 broker-
dealers, 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 broker-
dealers, 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 IA-
1092; 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 1
Availability of Funds and Collection of Checks: A Guide to Regulation “CC” [102] __________________ 1
Check 21: Customer Service and Teller Personnel Training [82A] ____________________________ 1
Check 21: Operations Personnel Training [82] _______________________________________ 1
Collection of Checks and Funds Transfers: A Guide to Regulation “J” [101] ______________________ 1
Electronic Fund Transfers: A Guide to Regulation “E” [99] ________________________________ 1
Home Mortgage Disclosure: A Guide to Regulation “C” [104] ______________________________ 1
Initial Public Offerings [eLIIPO] _______________________________________________ 1
IPO Allocations, Best Practices in [72] ___________________________________________ 1
New and Secondary Offerings [eLINSO] __________________________________________ 2
OFAC [80] ____________________________________________________________ 2
Privacy Requirements for Financial Institutions [eLIPRFI] ________________________________ 2
Private Placements [78] ___________________________________________________ 2
Protecting Consumer Privacy: A Guide to Regulation “P” [100] _____________________________ 2
Regulation B [88] _______________________________________________________ 2
Truth in Lending: A Guide to Regulation “Z” [98] _____________________________________ 3
Truth in Savings: A Guide to Regulation “DD” [103]____________________________________ 3

II. General 5
Basic Background for Needs Selling [eLIBN] ________________________________________ 5
Business Conduct [eLIBC] ___________________________________________________ 5
Business Conduct for Supervisors [eLIBCS]_________________________________________ 5
Business Continuity Plans [05Mini_BusCon] _______________________________________ 5
Business Succession Plans [611] _______________________________________________ 5
Business Valuation [eLIBV] __________________________________________________ 5
Buy/Sell Agreements [eLIBSA] ________________________________________________ 6
CFP Ethics [20CFP] _______________________________________________________ 6
Constructing Portfolios [200] ________________________________________________ 6
Corporate Structure and Buy/Sell Agreements, An Overview of [eLICSB] _______________________ 6
Customer Communications [31] _______________________________________________ 6
Customer Communications III [31B] ____________________________________________ 7
Customer Documentation Requirements, Third Edition [42_3] ____________________________ 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

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137