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* Financial services employees may meet the duties requirements for the administrative exemption if their duties include collecting and analyzing information regarding the customer’s income, assets, investments, or debts; determining which financial products best meet the customer’s needs and financial circumstances; advising the customer regarding the advantages and disadvantages of different financial products; and marketing, servicing, or promoting the employer’s financial products. However, a financial services employee whose primary duty is selling financial products does not qualify for the administrative exemption. See also: Fact Sheet No. 017M Financial Services Industry Employees and the Part 541 Exemptions Under the Fair Labor Standards Act. * In addition to the salary requirements, the professional exemption applies only if the duty requirements are met. The primary duty must be the performance of work that requires knowledge of an advanced type in a field of science or learning customarily acquired by a prolonged course of specialized intellectual instruction; or requiring invention, imagination, originality, or talent in a recognized field of artistic or creative endeavor. * Fields of science or learning are occupations with recognized professional status, as distinguished from the mechanical arts or skilled trades. Fields of science or learning include: law; theology; medicine; pharmacy; accounting; teaching; architecture; engineering; and the physical, chemical, or biological sciences. * The learned professional exemption applies to any employee who holds a valid license or certificate permitting the practice of medicine, including osteopathic physicians, podiatrists, dentists and optometrists. The exemption is also available to an employee who holds the requisite academic degree for the general practice of medicine and is engaged in an internship or resident program. Registered nurses who are registered by the appropriate State examining boar
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