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Evidences the fair market value of the property that is security for the mortgage loan. The appraisal value is used to determine that the loan to market value ratio is in compliance with regulatory requirements. It also is used to determine any non-admitted mortgage loan amount.
Evidences the fair market value of the property that is security for the mortgage loan. The appraisal value is used to determine that the loan to market value ratio is in compliance with regulatory requirements. It also is used to determine any non-admitted mortgage loan amount. Appraisals are obtained from:A...
There is pending litigation concerning the acquisition of a subsidiary and it is probable such litigation will result in its divestiture is an example of:
There is pending litigation concerning the acquisition of a subsidiary and it is probable such litigation will result in its divestiture is an example of:A . Transaction controlB . Subsidiary controlC . Significance controlD . Temporary controlView AnswerAnswer: D
To meet informational demands, internal management reporting will entail alternate views of the organization’s financial performance.
To meet informational demands, internal management reporting will entail alternate views of the organization’s financial performance. These areas, or views, are including all of the following EXCEPT:A . organizational/ business unit (Profit center, department, distribution system etc)B . Dealing with processes; product or service lines (i.e. ordinary life insurance, pension...
Which investments held by life insurance enterprises should be carried in the balance sheet at amortized cost?
Which investments held by life insurance enterprises should be carried in the balance sheet at amortized cost?A . Appraisal-term actsB . Variable-term portfolioC . Fixed-term portfolioD . Revenue-earned portfolioView AnswerAnswer: C
Tax Act states that:
Tax Act states that:A . A life insurer is subject to an investment income tax of 15 percent on its ‘net Canadian life investment incomeB . A life insurer is subject to an investment income tax of 25 percent on its ‘net Canadian life investment incomeC . A life insurer...
The loss reserve estimate is a significant estimate in the financial statements of an uninsured entity.
The loss reserve estimate is a significant estimate in the financial statements of an uninsured entity.A . TrueB . FalseView AnswerAnswer: B
What is the act in which the main sections are for Canadian companies and for foreign companies?
What is the act in which the main sections are for Canadian companies and for foreign companies?A . Investment reimbursement ActB . Insurance Companies ActC . Regulatory ActD . Revenue-earned ActView AnswerAnswer: B
When securities repurchased under repos commonly have a principal amount that differs from principal amount of the security originally sold under the agreement, is known as:
When securities repurchased under repos commonly have a principal amount that differs from principal amount of the security originally sold under the agreement, is known as:A . Splintering actB . BreakageC . RolloverD . None of the aboveView AnswerAnswer: B
Which of the following is NOT of equity market sensitivities that are usually considered in dynamic hedging?
Which of the following is NOT of equity market sensitivities that are usually considered in dynamic hedging?A . DeltaB . VegaC . thetaD . alphaView AnswerAnswer: D
Scope of Examination and Report of Independent Certified Public Accountant states that:
Scope of Examination and Report of Independent Certified Public Accountant states that:A . the insurer shall also require that the independent certified public accountant subject the data used by the appointed actuary to testing procedure.B . the insurer shall also require that the group of certified public accountant subject the...
