Variable Annuities
To sell variable annuities, a registered representative must hold:
Because variable annuities are both securities AND insurance products, representatives must hold both licenses.
Complete Analysis & Legal Rationale
Because variable annuities are both securities AND insurance products, representatives must hold both licenses.
Distractor Autopsy (Why Other Options Are Traps)
FINRA exam writers design incorrect distractors using specific calculation mistakes and regulatory misconceptions. Review why each option succeeds or fails:
Does not match the governing securities rule described in the explanation.
Does not match the governing securities rule described in the explanation.
Matches the verified teaching point in the explanation.
Does not match the governing securities rule described in the explanation.
Official Standard: Outline-level citation: item maps to Series 7 topic coverage. Prefer a specific FINRA/SEC/MSRB rule citation in a later author pass.