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Insurance & Securities Review

by Cindy Savage last modified 09/23/2009

Insurance is a trillion dollar business that employes 2.5 million people in this country alone.  As the population ages and wealth grows, the demand for insurance professionals will increase dramatically.  Jobs in insurance involve helping individuals and businesses manage risk to protect themselves from catastrophic losses and to anticipate potential risk problems.   


The NC Department of Insurance offers licenses under six major lines of authority.  CPCC offers the courses which satisfy the Departments requirements to obtain a license in the following:

 

Property Insurance Pre-licensing (20 hours)

Casualaty Insurance Pre-licensing (20 hours)                                                                 

 

Life Insurance Pre-licensing (20 hours)                                                                  

 

Accident & Health or Sickness Insurance Pre-licensing (20 hours)

Medical Supplement Long Term Care (12 hours)                                                             The prerequisite to hold this license, effective 1/1/08, is the Accident & Heaalth or Sickness License

Variable Life/Variable Annuity Products                                                                      This license will be required for all indivduals selling variable products such as variable life insurance and variable annuities.  The prerequisite to hold this license effective 1/1/08is the Life License and an active registration with FINRA (formerly NASD). 

 


  More and more insurance agents are advancing their career by expanding their offerings and services to include selling securities.  Many investors, whether a large company or individual, use financial services sales agents to assist and advise when buying stocks, bonds or shares in mutual funds.  Financial services sales agents are also called securities and commodities sales agents, brokers, stockbrokers, financial consultants, or account executives. 

 

Series 6, 7, 63  What's What? 

 

Series 6: A "Sponsoring" company is required to sit for the national exam.  Upon completion you'll be known as a Registered Representative qualified to sell mutual funds and variable annuities. 100 Questions

Series 63: No sponsorship is required to sit for this exam.  It covers state laws, regulations and registration requirements for broker-dealers, agent  and investment advisors.  Additional topics include fraudulent practices and regulatory oversights.  65 Questions

Series 7:  A "Sponsoring" company is required to sit for this exam.  Upon completion you'll be known as a General Securities Representative and can trade all types of stocks and bonds (does not include commodities or futures).  260 Questions

 


 

For the most up to date information on Securities profession, exams, and test dates, please visit the Financial Industry Regulatory Authority FINRA.

 

 

 

 

 

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