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In which premium income less return premiums arising from policies issued by the entity collecting the premiums and acting as the primary insurance carrier?
In which premium income less return premiums arising from policies issued by the entity collecting the premiums and acting as the primary insurance carrier?A . Indirect premiumB . Direct premiumC . Reinsurance premiumD . Entity premiumView AnswerAnswer: B
As defined in Accounting Standards Codification, dollar purchase agreements are the agreements to sell and repurchase similar and identical securities.
As defined in Accounting Standards Codification, dollar purchase agreements are the agreements to sell and repurchase similar and identical securities.A . TrueB . FalseView AnswerAnswer: B
By quantifying interest rate sensitivity, investment risk and can also indicate corrective actions.
By quantifying interest rate sensitivity, investment risk and can also indicate corrective actions.A . Experimental measureB . Investment measuresC . Quantifiable measuresD . Duration measureView AnswerAnswer: D
Primary coverage involves policies written between an insurer and a customer directly.
Primary coverage involves policies written between an insurer and a customer directly.A . TrueB . FalseView AnswerAnswer: A
Which of the following in NOT the flow of transaction through the claims cycle?
Which of the following in NOT the flow of transaction through the claims cycle?A . Quick-tail lines claim acceptanceB . Insurance underwrittenC . Claim settlementD . Loss reserve evaluationView AnswerAnswer: B
What are especially effective in investment strategy, because of the powerful risk management attributes they provide?
What are especially effective in investment strategy, because of the powerful risk management attributes they provide?A . Investments trialsB . Product designC . Communication benefitsD . Derivative instrumentsView AnswerAnswer: D
In which of the following, Internal entity experience or information from published sources concerning recent trends in socioeconomic factors affecting claim payments:
In which of the following, Internal entity experience or information from published sources concerning recent trends in socioeconomic factors affecting claim payments:A . general inflation ratesB . judicial decisions assessing liabilityC . judicial decisions regarding noneconomic damagesD . All of the aboveView AnswerAnswer: D
For immediate annuities, this is the ______________, defined by the sequence of periodic
For immediate annuities, this is the ______________, defined by the sequence of periodic annuity benefit payments the policyholder is promised.A . maximum credited rateB . minimum credited rateC . implicit interest rateD . explicit interest rateView AnswerAnswer: C
The pro rata portion of premiums written allocable to unexpired policy periods represents unearned premiums, which are reflected as in the balance sheet.
The pro rata portion of premiums written allocable to unexpired policy periods represents unearned premiums, which are reflected as in the balance sheet.A . LiabilitiesB . ExpensesC . RevenuesD . None of the aboveView AnswerAnswer: A
_______________ reserves for income tax purposes are referred to as maximum tax actuarial reserves (MTAR) and replace the actuarial liabilities used for accounting purposes in computing taxable income.
_______________ reserves for income tax purposes are referred to as maximum tax actuarial reserves (MTAR) and replace the actuarial liabilities used for accounting purposes in computing taxable income.A . Procedure-relatedB . Policy-relatedC . Standardized- related actD . None of the aboveView AnswerAnswer: B
