Loans on company's stock represent situations where the insurer lends money and accepts its own stock as collateral.
A. True
B. False
Income earned as of the reporting date but not legally due to be paid to the reporting entity until subsequent to the reporting date is known as:
A. Investment income accrued
B. Interest income
C. Real state income
D. Investment income depreciated
What bears all of the insurance risk, and there is no possibility of loss or liability to the administrator caused by claims incurred related to the plan.
A. Uninsured Investment Plans
B. Uninsured Accident and Health Plans
C. Real state income Plans
D. Investment Write-off Plans
Which software must be established as a non-admitted asset and written off over a period not to exceed the lesser of the useful life of the software or five years.
A. Non-reliable system
B. Non-secure system
C. Non-operating system
D. Non-expensed system
Admissibility test must be applied to determine the amount of deferred tax asset (DTAs) that can be admitted is called:
A. Maximum DTA
B. Minimum DTA
C. Net DTA
D. Gross DTA
Which payments refilect the amount of reinsurance recoverable from reinsurers based upon the amounts paid by the ceding company under reinsured policies?
A. loss adjustment expense
B. premium expense
C. payment assessment expense
D. All of the above
What include balances due from the insurer's brokers (collectively referred to as agents' balances) for premium on policies written?
A. collected premiums
B. account premiums
C. Direct balance
D. Agents' balances
The asset classification of funds held by or deposited with reinsured companies occurs when:
A. the reporting entity has assumed insurance from only one insurer that owes it funds, according to the payment agreement.
B. the reporting entity has assumed reinsurance from one or more other insurers that owe it funds, according to the reinsurance agreement.
C. the reporting entity has assumed reinsurance necessarily from more then one insurers that owe it funds, according to the interest charges.
D. the reporting entity has assumed authority from one or more other insurers that owe it funds, according to the deposited funds.
What represents balances due from brokers when a security has been sold, but the proceeds have not been received?
A. Payable for securities
B. Receivable for securities
C. Security balancing
D. Premium security
Balances due within thirty days of the settlement date are included as a receivable for securities.
A. True
B. False
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