Life Insurance FundamentalsQuestion 128 of 716
An agent wants to sell a variable universal life (VUL) policy. In addition to a California life license, what else is required?
a.A California real estate broker license
b.An active California notary public commission
c.A CPA certificate issued by the state board
d.FINRA Series 6 or 7 securities registration
Explanation
Variable products place cash value in separate-account subaccounts and shift investment risk to the policyowner, making them securities under federal law. The producer must hold both a CA life license and a FINRA Series 6 or 7 securities registration.
Law Reference: Cal. Ins. Code §10506; FINRA rulesThis topic, taught in full in the California Life & Health Insurance Producer Exam guide. California Life & Health Insurance Producer Exam — Complete Study Guide (2026) — PDF + EPUB, $19.99 · 14-day refund →
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Related questions on this topic
- Sara purchases a 20-pay whole life policy at age 30. Which statement is correct?
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- What feature of an indexed universal life (IUL) policy protects the policyowner from a market downturn?
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PrepPass team · Verified against California Life & Health Insurance License Exam · How we review
Reviewed by John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verify)