a. Producers must have adequate annuity product knowledge and comply with the insurer's standards for product training. Producers may rely on insurer-provided product-specific training standards and materials to comply with this paragraph. b. In addition to the insurer-provided product-specific training, annuity producers must complete a one-time 4 CE credit annuities training course with a CE provider that has registered with the Department of Consumer and Business Services. I. Producers who hold a life line of authority and who intend to make recommendations or sell annuities must complete the course: (1) by 6/29/2024, if already licensed on 1/1/2024; or (2 prior to selling annuities, if the producer was licensed after 1/1/2024. II. A producer who has completed an annuity training course before 1/1/2024, must, by 6/29/2024, complete either: (1) a new 4-hour training course; or (2) a supplemental 1-hour training course on appropriate standards of conduct, sales practices, replacement, and disclosure requirements. III. Required training must include information on the following topics: (1) types and classifications of annuities; (2) identification of the parties to an annuity; (3) how contract provisions for specific annuities affect consumers; (4) income taxation of qualified and nonqualified annuities; (5) the primary uses of annuities; and (6) appropriate standards of conduct, sales practices, replacement, and disclosure requirements. IV. Additional topics may be offered in addition to the required topics. V. The training course may not cover: (1) marketing information; (2) sales techniques; or (3) specific information about a particular insurer's products. VI. Classes may be completed by classroom or self-study methods. VII. Insurers must verify that a producer has completed the training course before allowing the producer to sell annuity products. For the verification, the insurer must: (1) obtain a training course completion certificate from the producer; or (2) consult other reliable sources that document the producer's completion of the course. VIII. Satisfaction of a substantially similar annuity training course or components of a training course in another state will satisfy Oregon's training requirements.