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LOMA 311 — Business Law for Financial Services Professionals

Course Type: Course Portal, Designation
Topics: Compliance & Legal, Financial Services & Financial Planning, Life Insurance
Designations: AIRC, ARA, FLMI
Language: Chinese (simplified), Chinese (traditional), English


LOMA 311 presents the basic features and principles of the legal environment in which financial services companies around the world operate.


  • The Legal Environment of Business
  • Civil Disputes
  • Business Organizations
  • Regulation of Business
  • Contract Law
  • Agency Law
  • Property Law
  • Commercial Transactions & Bankruptcy
  • Regulation of Financial Services Companies
  • Sale of Financial Services Products
  • Ownership of Financial Services Products
  • Gain a broad understanding of the legal system and regulatory environment in the United States, and understand how life insurance and financial services companies operate within these environments.
  • Distinguish among the various types of legal systems and the four primary sources of law, and understand common legal terms such as litigation, tort, disputes, mediation, civil, criminal, fraud, contracts, legal action/lawsuits, equitable, anti-trust, and securities.
  • Recognize the types of workplace standards, nondiscrimination requirements, and required benefits that U.S. federal and state laws typically impose, as well as the federal government’s role in regulating the insurance industry.
  • Understand legal issues related to the sale of annuity contracts, mutual funds, and other financial services products that qualify as securities; identify the types of regulatory requirements that federal securities laws impose on these products and their issuers.
  • Describe policy benefits and features to which policyowners are legally entitled – including withdrawal provisions, reinstatements, policy loans, nonforfeiture options, settlement options, and policy surrenders – and the variety of legal actions that may be pursued by parties to the policy.
  • Identify financial products that qualify as securities, and describe the types of regulatory requirements that federal securities laws impose on securities and on the individuals and companies that issue and sell securities.
  • Describe regulatory requirements to protect personal consumer information that state, federal, and international privacy laws impose on financial institutions.

Course Format

Course Portals include the following elements:

  • All the assigned study materials needed for the course
  • Interactive Practice Questions and Sample Exams
  • Recommended study plans to help you set goals and manage your study schedule
  • Additional media and features to help in the study and review process

Exam Format

The LOMA 311 exam has 60 questions and a time limit of 2 hours. It is available in I*STAR, Prometric, and Paper exam formats.

Study Materials

Business Law for Financial Services Professionals, Second Edition (LOMA, 2012)
ISBN 978-1-57974-396-3

Test Preparation Guide for LOMA 311 (LOMA, 2012)
ISBN 978-1-57974-397-0

Optional printed textbook (not included in bundled fee)

Business Law for Financial Services Professionals, Second Edition (LOMA, 2012)
ISBN 978-1-57974-396-3
PBD Order # 311-10-12

How to Enroll

Enrolling in Courses with Proctored Exams

LOMA requires proctored examinations for many of its professional designation courses. Study materials for these courses are delivered via online Course Portal, and enrollment in the Course Portal also includes enrollment in one of our proctored exam options for the course. Proctored exams are administered in LOMA member organizations and in independent testing locations around the globe. LOMA exams vary in length from two–three hours. Consult the Designation Study Materials Roadmap for specific information about the length of your exam.

Proctored examinations can take one of three forms:

Enrollment Step-by-Step

  1. Log in to your LOMA Learning account using your login ID and password.
  2. Browse the Learning Catalog for the course for which you would like to enroll.
  3. Select ADD TO CART next to the items for which you would like to enroll.
  4. Choose Exam Type — you must choose between Prometric, I*STAR, or (if available) Paper Exam enrollment.
    • Select Exam Site — your company’s primary exam site (if applicable) will appear on the screen. To see other available exam sites, click “Search.”
    • Note for Independent Students: Click “Include 3rd party exam sites” to find open exam sites offered by other companies. More information on Independent Student enrollment.
    When you have selected an exam site, click “Save.”
  5. Return to the catalog to continue searching for courses and add additional items to your shopping cart, or click the shopping cart to check out.
    • If you have not already done so, you will be prompted to log in to the LOMA learning system at this time. Once you have successfully logged in, click the shopping cart again to begin the checkout process.
  6. Review your shopping cart. Click CHECK OUT to proceed.
  7. If you are purchasing a physical product (example: a textbook), complete the SHIPPING information screen.
  8. Enter payment information
    • If your company has set up direct billing with LOMA, an account code will appear next to the “Bill My Company” field.
    • If you are using direct-to-company billing method, ensure that the radio button next to the “Bill My Company” field is selected and then click “Next” to continue.
    • If you are paying for your enrollment by credit card, enter all of the required fields for a credit card transaction. Once you have provided all of the required information, click “Next” to continue.
  9. Review your order, accept LOMA’s Terms and Conditions, and click BUY NOW. An enrollment confirmation will be emailed to you.

See the LOMA 311 video
LOMA 311 promo screen