Final answer:
To sell variable products, agents must have both a FINRA representative license and a Life Insurance license. These licenses ensure that agents are qualified and adhere to regulations, helping to protect the public.
Step-by-step explanation:
Agents selling variable products must have both a FINRA representative license and a Life Insurance license.
This means the correct answer to the student's question is c. FINRA representative license and Life license.
As with other professions that impact public trust and require a deep knowledge base, such as doctors, teachers, and lawyers, individuals in the financial services industry must attain certain licenses to ensure they have the necessary qualifications and adhere to ethical standards.
These requirements help to safeguard the public by ensuring that licensed professionals are competent and operate within the confines of regulatory authority.