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National College Credit Recommendation Service

Board of Regents  |  University of the State of New York

LOMA | Evaluated Learning Experience

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Regulation and Taxation of Annuities (AAPA 323)

Location: 
Independent study and proficiency examination program administered from the central offices of LOMA.
Length: 

Varies-independent study.

Dates: 

January 2001 - December 2015. 

Instructional delivery format: 
Proficiency exam
Learner Outcomes: 

Upon successful completion of the course, students will be able to: explain how insurers are authorized and producers are licensed to sell annuities; describe the state regulatory requirements that are imposed on annuity products; describe state market conduct regulation of companies that issue annuities; describe state solvency regulation of companies that issue annuities; explain how individual annuities are regulated at the federal level by the SEC and NASD; and describe the income, gift, and estate taxation of annuities.

Instruction: 

Major topics include: dual system of federal and state regulation; state regulation of companies, producers, and annuity products; state regulation of market conduct; state regulation of insurer solvency; federal regulation of annuities; income tax treatment of annuities; and gift and estate taxation of annuities.

Credit recommendation: 
In the upper division baccalaureate degree category, 1 semester hour as an elective in Insurance or Business Administration (6/02) (1/08 revalidation). NOTE: When a student completes more than one course with an AAPA course number and the credit recommendations for these courses total 3 semester hours, the combined credit recommendation is equivalent to a semester-length course in Annuities. Further, when a student completes more than one course with an AAPA course number and the credit recommendations for these courses total 6 semester hours, the combined credit recommendation is equivalent to two semester-length courses in Annuities.

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