Identification and documentation of the controls and policies which address the risk management issues for each of the Standards is the necessary step for:
A. Operational procedure
B. Guideline procedure
C. Organizational policy
D. Self-assessment process
Which investments held by life insurance enterprises should be carried in the balance sheet at amortized cost?
A. Appraisal-term acts
B. Variable-term portfolio
C. Fixed-term portfolio
D. Revenue-earned portfolio
What is the act in which the main sections are for Canadian companies and for foreign companies?
A. Investment reimbursement Act
B. Insurance Companies Act
C. Regulatory Act
D. Revenue-earned Act
The process of analyzing and projecting the trends of a company's capital position given its current circumstances, its recent past, and its intended business plan under a variety of future scenarios is called:
A. Permanence and Reliability Testing
B. Dynamic Capital Adequacy Testing
C. Capital Market Testing
D. None of the above
Internal Control is:
A. the process of controlling the impact of risk related events on a company
B. the process of planning the processes in order to avoid risk related events to a company
C. the process of designing the models to avoid risk related events on a company
D. All of the above
What of a life insurer's is determined by applying factors for risk components to specific on and off-balance sheet assets or liabilities and by adding the results?
A. The annual Return
B. Business policy
C. Provincial act
D. Capital requirement
Which of the following is NOT the primary consideration for defining the capital of a company for purposes of measuring capital adequacy?
A. Permanence
B. Freedom from mandatory fixed charges
C. Debtors of the business
D. Creditors of the business
Which of the following is the significant requirement for ongoing regulatory reporting to the Office of the Superintendent of Financial Institutions ("OSFI")?
A. The monthly Return
B. Capital Adequacy Return
C. Constraints of Sound Business
D. Static Capital Adequacy Test
_______ include financial statements and notes, both on a consolidated and non consolidated basis.
A. The annual Return
B. Provincial Adequacy Return
C. Constraints of self assessment
D. Static Capital Adequacy Test
Which of the following is NOT the category of Life and health insurers in Canada?
A. Canadian Companies
B. Fraternal Benefit Societies
C. Reassurance Companies
D. Provincially Licensed Companies
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