Course Catalog
Quality Course Content
Known for its high quality content, FST offers introductory and advanced level courses with information that you can use. Courses are available online. Most courses also offer CFP® and PACE credits. Customers interested in volume pricing, licensing, course customization, or live instruction should contact FST by phone to discuss specialized solutions.
Formats
All courses are available online. Customers interested in customized content or delivery and pricing for such services should contact FST by phone.
Pricing
Online courses are $35 per course.
Call to discuss volume pricing and site licensing.
Course List
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Anti-Money Laundering
Understanding Anti-Money Laundering
This course provides a comprehensive picture of the problem of money laundering and a greater appreciation of the impact of the new regulatory requirements aimed at stopping the practice.
CFP®/PACE Credits: 0 Table of Contents | Course List
Capital Markets Courses
Capital Markets I
Part one of the two-part Capital Markets course provides a review of the various segments of the capital markets with a focus on the instruments traded in these market segments. Areas covered include US Treasury and Agency securities, mortgage-backed securities, municipal instruments, corporate debt, repurchase agreements, Fed Funds, commercial paper, CDs, Banker's Acceptances, Financial Futures and Options and Eurodollar issues.
CFP®/PACE Credits: 2 Table of Contents | Course List
Capital Markets II
Part II of the Capital Markets course provides a comprehensive review of the activities of the capital markets. Subjects addressed include the markets and their various participants, the regulators, pricing issues, interest rate and price volatility, and exercises based upon volatility scenarios. Also covered are fundamentals of the trading desk, trading strategies, hedging techniques and arbitrage. This course is appropriate for both intermediate and advanced registered representatives.
CFP®/PACE Credits: 3 Table of Contents | Course List
Economic Concepts
An in-depth overview of economic concepts, helpful to both retail and institutional personnel who must have the capacity to explain these concepts to their clients, or to better understand the markets and instruments in which they deal. Topics covered include, economic trends, cycles and indicators, fiscal policy, the role of the Federal Reserve, interpreting yield curves, and the impact of global events on financial markets.
CFP®/PACE Credits: 3 Table of Contents | Course List
Customer Service Courses
Client Accounts Orders and Disclosure Issues
The securities transaction process begins with the new account form. The information gathered during this process is crucial to the accurate processing of all securities transactions on behalf of the client. This course begins with the client and the new account form and moves on to address types of orders that may be entered on the client’s behalf, the order form and various important disclosure issues that may apply to securities transactions.
CFP®/PACE Credits: 8 Table of Contents | Course List
Online Brokerage Customer Service
On a daily basis the customer service representative working in the online brokerage environment confronts questions related to equity securities, margin accounts, options, and trade executions. Customers expect the customer service representative to understand and help resolve these questions and issues. With this in mind, the course objective is to strengthen the level of skill and understanding of the customer service representative within the context of online brokerage, thereby raising performance standards and customer satisfaction.
CFP®/PACE Credits: N/A Table of Contents | Course List
Equity Securities Courses
Equity Securities
Equity securities and their derivatives (warrants, preferred stocks, and rights) are thoroughly reviewed. Issues such as dividends, due bills, yields and P/E ratios are detailed as well. The course also covers the role of important operational players in the equity arena, such as securities firms, transfer agents, clearing firms and depositories. As an added bonus, issues related to the clearance and processing of international equities are also covered.
CFP®/PACE Credits: 2 Table of Contents | Course List
Ethics Courses
Ethics and Regulation in the Securities Industry 2006 - A Survey
The securities industry is constantly evolving. Each year brings the introduction of new products and services, accompanied by new regulatory concerns, new rules and related disciplinary actions. A major concern for investment professionals and their employers is how to keep abreast of all the new materials generated each year. This course aims to focus on issues raised and actions taken by regulators in 2005 and 2006. Once raised, these so-called “hot button” issues often become the focus of regulatory examinations and may result in disciplinary actions against registered representatives or the broker/dealers that employ them. Some of these topics may also appear on the Regulatory Element portion of the continuing education requirement. The course concludes with a mastery test to confirm the student’s understanding of the materials presented.
Table of Contents | Course List
Institutional Ethics
Based upon our popular Retail Ethics course, this course is tailored specifically to institutional sales activity. The course retains many features of Retail Ethics and adds specific topics such as Section 28(e) safe harbor issues, Sections 9 and 10 of the Federal Securities laws, ERISA, and issues such as accommodating money managers. Case studies are used throughout to test the student's comprehension of the materials presented. The course is appropriate for all levels of registered representatives, as well as compliance, internal audit and regulatory personnel.
CFP®/PACE Credits: 3 Table of Contents | Course List
Regulatory Issues for Investment Banking and
Corporate Finance Personnel
This course is similar to the Institutional Ethics course, but it is aimed at investment banking and corporate finance professionals who do not have sales contact with customers. The course adds topics such as private placement activity, Rules 144 and 144A, and MSRB Rule G-37: Municipal Finance Professionals and campaign contributions.
CFP®/PACE Credits: N/A Table of Contents | Course List
Research Analysts and Conflicts of Interest for NASD Members
The landscape for research analysts and research reports has changed dramatically. New rules and regulations have made a profound impact on how the research activity is carried out. This course focuses on the role of the research function in the securities industry; the role of the research analyst within the member firm; the impact of new rules aimed at the research function; research analyst compensation issues; prohibitions against offers of favorable research; the imposition of quiet periods; personal trading restrictions for research analysts; disclosure requirements and new qualification and examination requirements for research analysts. The course contains a glossary and a mastery test.
CFP®/PACE Credits: 0 Table of Contents | Course List
Retail Ethics
One of the most comprehensive reviews of regulatory issues and ethical practices facing the securities industry. From an overview of the regulatory framework of the securities industry to the NASD's Conduct Rules, this course covers timely topics such as Insider Trading, the business conduct of registered representatives, supervision issues for sales managers and regulatory audits and inquiries. The course contains case studies throughout and is appropriate for all levels of registered representatives, as well as compliance, internal audit and regulatory personnel.
CFP®/PACE Credits: 3 Table of Contents | Course List
Sales and Suitability
An in-depth review of the number one issue facing the securities industry - Know Your Customer! This course covers not only communication skills and sales techniques such as handling objections, but also focuses on the more difficult subjects of disclosures, suitability, advertising issues, proper use of the prospectus, client correspondence and handling customer complaints.
CFP®/PACE Credits: 1.5 Table of Contents | Course List
Asset Allocation
This course reviews the intellectual underpinnings of asset allocation strategies, modern portfolio theory and standard deviation as a measure of risk. The thrust of the course is to draw a distinction between the concepts of diversification and asset allocation. Subjects covered include basic asset allocation concepts, portfolio objectives, plan implementation, rebalancing methods and computer optimization.
CFP®/PACE Credits: 3 Table of Contents | Course List
Investment Strategies for Equity Securities
On a daily basis each financial professional is expected to evaluate the investment objectives of existing clients and potential clients and then recommend appropriate strategies to work towards meeting those investment objectives. This course will assist financial professionals in articulating investment strategies for equity securities to clients.
CFP®/PACE Credits: N/A Table of Contents | Course List
Investment Strategies & Financial Planning
This course begins with the basic elements involved in identifying client investment objectives and risk profiles, and moves on to risk elements in investment decisions, explaining types of risk, developing investment strategies, identifying products and their risk/return relationship, and sample investment portfolios. Also addressed are the more advanced concepts of retirement planning, calculating estimates for retirement income and expenses, as well as a review of yield and accrued interest calculations.
CFP®/PACE Credits: 3 Table of Contents | Course List
Investment Strategies for Fixed Income Securities
On a daily basis each financial professional is expected to evaluate the investment objectives of existing clients and potential clients and then recommend appropriate strategies to work towards meeting those investment objectives. This course will assist financial professionals in articulating investment strategies for fixed income securities to clients.
CFP®/PACE Credits: N/A Table of Contents | Course List
Advanced Concepts in Investment Strategies
This course is designed to assist financial professionals in evaluating the investment objectives of clients and articulating appropriate investment strategies to meet those objectives using the following types of securities:
- Equity Securities
- Fixed Income Securities
- Options
In addition, the course covers the importance of short-term cash reserves; the need for an exit strategy; the risk of inverting the investment pyramid; and the use of indices as an investment strategy. With the continued rise in stock ownership among U.S. households, the largest portion of this course focuses on equities.
CFP®/PACE Credits: 10 Table of Contents | Course List
Qualified Plans
A course containing up-to-date information on qualified plans, including SIMPLE plans, Roth IRAs, and Education IRAs. Topics covered include qualified plans and their role in retirement planning, types of qualified plans, non-qualified deferred compensation plans, integrating plans with Social Security, prototype plans, Traditional IRAs, Roth IRAs and conversion issues, prospecting and selling SIMPLE plans and developing a retirement plan. This course provides an outstanding review of qualified plans for corporations, sole-proprietors, and individuals and includes the latest plan contribution limits.
CFP®/PACE Credits: 3 Table of Contents | Course List
California Insurance CE (Life) 2 hours (workbook only)
Roth IRAs
This course is designed to review the creation and use of Roth IRAs in the retirement and estate planning process. The course outlines the factors which can serve as a guide when choosing between Traditional IRAs and Roth IRAs for new investments, rollover contributions, or conversions. Finally, the course contains case studies to help financial professionals assess real life situations and apply what has been learned from the course material. The exam at the end of the course is multiple choice and includes a case study.
CFP®/PACE Credits: 4 Table of Contents | Course List
Investment Products Courses
Corporate Debt
This course provides a focused analysis of both short and long-term corporate debt instruments. The characteristics of specific corporate debt instruments are addressed, as well as the rating systems used, pricing and yield calculations, bond selection strategies and sales and suitability issues. A special section on commercial paper is appropriate for more advanced registered representatives.
CFP®/PACE Credits: 2 Table of Contents | Course List
Fixed Income Instruments
The Fixed Income markets, not just the individual securities (treasuries, corporates, mortgage-backs, agencies, municipals, and non-US Fixed Income Securities) are covered. Price and yield issues related to fixed income securities are reviewed as well. Subjects such as the time value of money, yield measurements and interpreting the yield curve are appropriate for the intermediate level student. Fixed Income risk related issues, as well as the actions of the Fed, make this course appropriate for a wide variety of covered persons. Inflation adjusted treasury notes are also included.
CFP®/PACE Credits: 2 Table of Contents | Course List
Long-Term or Brokered CDs
This course reviews the characteristics of long-term or brokered CDs and how they differ from traditional CDs. It also addresses the suitability issues tied to the product and the many concerns of the regulatory community with regard to the marketing and sale of these products. Finally, students will find information regarding regulatory actions that have been taken with regard to the product.
CFP®/PACE Credits: 2 Table of Contents | Course List
Municipal Securities
This course provides a fixed income analysis of the nature of the municipal markets, both primary and secondary, and covers such topics as differences in credit ratings, municipal bond insurance, yield patterns, premium and discounted issues, municipal bond funds, plus current regulatory issues and MSRB rules.
CFP®/PACE Credits: 2 Table of Contents | Course List
Unit Investment Trusts
This course focuses on the investment vehicle known as a Unit Investment Trust or UIT. UITs are different from their other registered investment company relatives in a variety of important ways. These differences are addressed in the various sections of the course. Included in the course material are the following:
- Features of UITs
- Investment Strategies of UITs
- Types of UITs - both Equity and Fixed Income
- Advantages and Disadvantages of UITs
- Suitability Issues related to UITs
- A Comparison of UITs and Mutual Funds
- Advertising Issues
- Regulation of UITs
The course concludes with an exam to test comprehension and retention of the materials presented.
CFP®/PACE Credits: 2 Table of Contents | Course List
Packaged Products Courses
Mutual Funds I
This course provides an overview of the characteristics of mutual funds, mutual fund families, and how funds are organized. Issues such as Net Asset Value, NAV calculations, fees and charges, offshore mutual funds, regulatory issues and the benefits of utilizing mutual funds as investment vehicles are also covered. An extensive glossary is included.
CFP®/PACE Credits: 2 Table of Contents | Course List
Mutual Funds II
This course covers more advanced topics in the mutual fund arena. The focus of the course is on such topics as: beta - a measurement of risk; turnover - its tax and performance implications; an in-depth analysis of the performance numbers used within the mutual fund industry, and the types of funds not routinely utilized by registered representatives (e.g., Loan Participation Funds, Offshore Funds, etc.).
CFP®/PACE Credits: 2 Table of Contents | Course List
Annuity Products
The annuity products course is designed to familiarize the securities and insurance professional with all aspects and characteristics of annuities (both fixed and variable) and their use in the financial planning process. This course is intended to give the student a firm grounding in the essential features of annuities and to enable the student to move on to the more complex issues related to annuity products and their uses. Topics covered include: characteristics of annuity products; types and stages of annuity contracts; fees and other costs related to annuities; disclosure of fees and charges; suitability standards and risk elements related to annuities; calculating taxable and tax-free distributions and a glossary of terms related to annuity products.
CFP®/PACE Credits: 2 Table of Contents | Course List
California Insurance CE (Life) 1 hour (workbook only)
Variable Annuity Sales Supervision
This course is aimed at supervisors of sales personnel engaged in the sale of variable annuity products. It addresses issues important to both the SEC and the NASD as they examine this important area of sales activity. Topics covered include: The regulatory environment for variable annuity sales personnel and their supervisors; registration requirements; NASD Notice to Members 96-86 which identifies seven factors in determining suitability; additional regulatory concerns such as policy churning vs. 1035 exchanges, questionable suitability and the high cost of unsuitable transactions, failure to properly disclose costs and fees, serial selling and failure to supervise; supervision of sales personnel; concrete steps for good supervision, including NASD Notice to Memebers 99-35; and, the issue of cash and non-cash compensation and the record keeping requirements for such compensation. The course includes case studies and exam questions.
CFP®/PACE Credits: N/A Table of Contents | Course List
Variable Annuity Suitability
This course focuses on variable annuity products and the suitability issues that relate to the products. Issues addressed include contract features such as death benefits, critical care benefits, and flexible withdrawal options. Fees such as mortality and expense risk charges, administration charges, investment management fees, contract fees and surrender fees are discussed. The course also takes a look at annuitization, mutual funds versus variable annuities, dollar-cost averaging within variable annuities, estate taxation of annuities, basic rules for 1035 Exchanges and recent NASD Notices to Members dealing with the issue of variable products and suitability. A glossary and test are included.