Agent Licensing test is hard

[somarco]

Since you're talking about the military. We need this guy.

Gomer was worse . . .


Shazaam!

 

[scagnt83]

Without proper testing, how would a representative know which product is the best solution?

When did I say there should not be proper testing? Dude, sometimes you just look for disagreement when there is none.

My point is that the advanced product (affecting peoples life savings) requires the same courses the simple product does.

My greater point is there needs to be a higher standard for more advanced concepts.

 

[scagnt83]

The reason I cringe though is all the new annuity regs to control the bad agents & bad carriers (suitability & best interest), were intended to protect lower knowledge consumers. In reality, it has kept those same less knowledgeable savers with little to invest from having any place to easily save as those most knowledgeable about annuity can't make money on anything other than large existing rollovers or already existing large sums saved elsewhere currently

I do not totally agree with this.

FIAs are complex, even for more sophisticated investors (such as people who have always managed their own stock portfolio) FIAs are complex. It takes real time and effort for them to understand it all. Especially now with Income Riders. Those regs are helping to protect all consumers, not just the low knowledge ones.


Imo, annuity suitability has improved for the better over the past decade. At one time "annuity suitability" was literally a joke. Today I cant even submit an e-app if the annuity is over 70% of assets... much less all the other factors of suitability.

You also have to think that any agent who passes the exam and CE can sell an annuity. So its not just "bad agents" its ignorant agents more than anything.

But the glaring change to me has been product design. It is BY FAR more consumer friendly today vs. 10 years ago. And no way it would be were it is today without all of those regs enacted. We would still have products like they blasted on the dateline special 15 years ago if it were not for the updated regs. And that is a very good thing for both the industry and consumers.

 

[scagnt83]

While I am not a huge fan of excessive regulation, you might be on to something.

Our government is what we make it to be.

If you think government regulations are incompetent.... you should look in the mirror.

If we say something enough, eventually we make it come true... good or bad. I would not be surprised if that old mantra that our government is incompetent was started by the soviets.

Its a self defeating mindset with ramifications that our country is living through today.

 

[Allen Trent]

Without proper testing, how would a representative know which product is the best solution?

Their upline would tell them I am certain

 

[Allen Trent]

If you think government regulations are incompetent.... you should look in the mirror.

Are you saying it is the government's fault I am ugly?

 

[toolbelt]

When did I say there should not be proper testing? Dude, sometimes you just look for disagreement when there is none.

My point is that the advanced product (affecting peoples life savings) requires the same courses the simple product does.

My greater point is there needs to be a higher standard for more advanced concepts.

The reality is, there is a lot of overlap between basic insurance policies and investment products. Even those selling strictly term insurance are also able to sell mutual funds.

 

[Cornelius]

Their upline would tell them I am certain

The perfect life policy is the one approved for and in force at death. Hey...Just keeping it simple.

 

[goillini52]

Since you're talking about the military. We need this guy.

 

[goillini52]

When did I say there should not be proper testing? Dude, sometimes you just look for disagreement when there is none.

My point is that the advanced product (affecting peoples life savings) requires the same courses the simple product does.

My greater point is there needs to be a higher standard for more advanced concepts.

You didn't quote. Who are you responding to?