Life Insurance FundamentalsQuestion 128 of 315
An agent wants to sell a variable universal life (VUL) policy. In addition to a California life license, what else is required?
a.Notary public commission
b.Real estate broker license
c.CPA certification
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 rulesPractice all 315 questions free — no signup required.
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