State RegulationsAZ specificDifficulty 2/5
A newly appointed Arizona producer receives an annuity application from a client on Monday and plans to complete the required annuity training at the end of the month. Under A.R.S. 20-1243.07, the producer must:
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Why C is correct
Under A.R.S. 20-1243.07, the one-time annuity training course must be completed before the producer sells, solicits, or negotiates an annuity contract. Accepting and working an application is transacting annuity business, so the producer must finish the training first. Neither client waivers nor Department exemptions substitute for the statutory precondition.
Why the other options are wrong
- A) Deferring training into the first policy year violates the statute; the course must be finished before any annuity transaction activity.
- B) A client cannot waive a statutory training requirement imposed on the producer by Arizona law.
- D) DIFI does not issue temporary exemptions from the annuity training precondition.
Memory hook
Training first, application second — no selling on a promise to study later.