Product and Service Supervision: Rapid Fire
Chapters in this video
- 0:00 New-product committee decisions and material modifications
- 1:58 Variable contracts, 7-day rule, and forward pricing
- 4:55 Tricky definitions: convertible bonds, warrants, commodity futures
- 5:37 Numbers to lock in: fee caps, offering limits, 75-5-10 test
- 7:23 Top exam gotchas: deferred-VA scope, CMA timing, diversified test structure
- 8:52 Rapid-fire exam recap
What this video covers
- How the new-product review committee documents approve, disapprove, or table decisions, and why a blank entry is a regulatory red flag
- When a material modification triggers full re-review versus when a cosmetic update requires no action
- The three prongs of suitability (reasonable-basis, customer-specific, quantitative) and which level of the firm owns each one
- Why deferred variable annuities get a strict 7-business-day principal review starting only on complete OSJ receipt, and how variable life and immediate annuities differ
- How forward pricing and next-computed net asset value (NAV) prevent illegal late trading in mutual fund orders
- Why convertible bonds and detachable warrants classify as equity securities under the Securities Exchange Act of 1934 (SEA), and why commodity futures never do
- The 75-5-10 diversified fund test, the 0.25% no-load ceiling, and the filing triggers that activate at either threshold, not both
Read the full lesson, free
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