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Quest CE Files Course to Meet Wisconsin 4-Hour Annuity Requirement - Quest CE has filed a course to meet the Wisconsin 4-hour annuity requirement. An intermediary who sells annuity products must complete the one-time training course
Quest CE Files Course to Meet Wisconsin 4-Hour Annuity Requirement

 

NewswireToday - /newswire/ - Milwaukee, WI, United States, 2010/08/06 - Quest CE has filed a course to meet the Wisconsin 4-hour annuity requirement. An intermediary who sells annuity products must complete the one-time training course.

   
 
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Effective May 1, 2011, an intermediary who sells annuity products must complete a one-time training course that qualifies for at least four continuing education credits, including topics on:
• types and classifications of annuities;
• how fixed, variable, and indexed annuity contract provisions affect consumers;
• taxation of annuities;
• appropriate sales practices;
• disclosure requirements.

The 2009 Wisconsin Act 343, prohibits an intermediary from soliciting the sale of an annuity product unless the intermediary has adequate knowledge of the product to recommend it and establishes intermediary training requirements related to selling annuities. Before allowing the intermediary to sell an annuity product, an insurer must verify that an intermediary has completed the course.

Recommendations to a consumer regarding the purchase or exchange of an annuity must be suitable and beneficial to a consumer, based on the consumer’s suitability information.

The following factors must be considered when determining whether a recommendation to a consumer for the purchase, exchange, or replacement of an annuity is suitable:
• risk tolerance;
• liquidity needs;
• intended use of the annuity;
• financial time horizon.

The Act prohibits an intermediary from dissuading, or attempting to dissuade, a consumer from truthfully responding to a request for confirmation of suitability information.

Quest has filed a course to meet the new requirement and expects State DOI approval in the next few weeks.

About Quest
With a client retention rate of 95.17% and a growth rate of over 400% since January 1, 2005, more and more people are discovering why Quest CE (questce.com) is the Next Generation of Compliance Training Solutions. Quest CE serves more than 160 leading insurance carriers, broker/dealers, banks, and other financial institutions. Quest is a privately held firm which allows them to quickly meet the ever-changing needs of their clients. Quest’s commitment is to provide advanced custom solutions at cost effective rates while providing a level of service that greatly surpasses that of our competitors. Quest provides a single source solution for organizations training and compliance needs, saving you both time and money.

 
 
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Written by / Agency / Source: Quest Continuing Education Solutions

 
 

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Quest CE Files Course to Meet Wisconsin 4-Hour Annuity Requirement

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Publisher Contact: Alex Krenke - QuestCE.com 
877-593-3366 alexkrenke[.]questce.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Quest Continuing Education Solutions securities in any jurisdiction including any other companies listed or named in this release.

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