00:01
Hello students, here is a question.
00:02
Brand is registered and representative with a broker dealer and it is licensed for the self -fixed and variable annuities as well as mutual funds.
00:10
How can the brand compile with the best investment required under the naic's annual model regulations? so by compiling with applicable sec and if inra rule pertaining a best interest obligation for supervision of annuity sales and the second is by referring from any future sales of annuity products and the third is the obtaining limits lines for insurance license and comforting the limits that lines license and the option d is brands registration with the broker deals exempted him fully from any obligations under naic annuity model.
00:47
So these are the options we have from this.
00:49
We have to choose the right answer.
00:51
So first i'll write down the answer here.
00:54
So the correct answer will be option a that is brad can compile with the best interest requirement under the naic's annuity model model regulations by compiling with sec and if i in ra rule pertaining to to the best interest obligations and supervision of annuity sale.
02:07
So first we need to understand what is the best interest requirement under naic's annuity model regulations.
02:13
So according to this, so the producer must act as a best interest of a consumer when recommending of an annuity.
02:21
The producer must make a reasonable effort to obtain an information about consumers financial status and tax status investment objectives and relevant information.
02:31
The product must consider the customers needs and circumstances when it's making a recommendation.
02:36
So the producer may disclose certain information consumers such as fees surrenders charges cost associated annuity...