a. A producer 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, producers must complete an approved one-time 4 CE credit annuity training course provided by the Department-approved education provider. I. Producers who hold a life line of authority and who sell annuities must complete the course: (1) within 6 months after 7/5/2024, if already licensed prior to 7/5/2024; or (2) prior to selling annuities, if the producer was licensed on or after 7/5/2024. II. The training must cover: (1) the types of annuities and various classifications; (2) identification of the parties to an annuity; (3) how product specific annuity contract features affect consumers; (4) the application of income taxation of qualified and non-qualified annuities; (5) the primary uses of annuities; and (6) appropriate standard of conduct, sales practices, replacement, and disclosure requirements. III. The training course may not cover: (1) marketing information; (2) sales techniques; or (3) specific information about a particular insurer's products. IV. Additional topics may be offered in conjunction with the required topics. V. A producer who completed a Department-approved annuity training course before 7/5/2024 must, within 6 months after 7/5/2024, complete either: (1) a new 4-credit training course approved by the Department after 7/5/2024; or (2) an additional 1-time, 1-credit training course approved by the Department and provided by the Department-approved education provider on appropriate sales practices, replacement, and disclosure requirements under VT ADC 4-3-66:7. VI. Training may be completed by classroom or self-study methods. VII. Satisfaction of substantially similar training requirements in another state will satisfy VT ADC 4-3-66:7. VIII. Satisfaction of the training requirement components of a course with components substantially similar to VT ADC 4-3-66:7 provisions will satisfy the regulation's training requirements. IX. Insurers must verify that a producer has completed the annuity training course before allowing the producer to sell annuity products. An insurer may satisfy its responsibility by obtaining: (1) training course completion certificates; (2) reports provided by Commissioner-sponsored database systems or vendors; or (3) reports from a reasonably reliable commercial database vendor that has a reporting arrangement with approved insurance education providers.