What permits all bonds "in good standing" to be carried at their amortized cost in the statutory balance sheet?
A. Policy holder association
B. National Association of Insurance Commissioners
C. Temporary Impairment Application investment
D. National institute of insurance
Insurance companies are required to write down all bonds not in good standing to what as assigned values by making charges to their statutory surplus through an entry to change non-admitted assets.
A. Non-admitted reinsurance
B. Securities Valuation Office
C. Mandatory economic benefits
D. Investment reimbursements Office
What is designed to meet the varying needs of the different users of financial statements, which is based on accrual accounting?
A. generally accepted accounting principles
B. statutory accounting practices
C. accountability resource practices
D. accounting principles of performance
Dividends generally constitute gross income, and dividends received from domestic corporations are eligible for which dividends?
A. dividends allocated deduction
B. dividends received deduction
C. Gross dividends
D. Conventional dividends deduction
The attorney-in-fact manages the ___________ and is paid a fee or commission for management services rendered.
A. reciprocal
B. dividend
C. interinsurer
D. reinsurer
What is designed to report information about an insurance company's ability to meet its obligations to policyholders and claimants, and focuses on surplus adequacy?
A. taxation accountability
B. statutory accounting practices
C. claims and securities privileges
D. Provisionary earning insurance
Taxable years of insurers for periods other than calendar years can occur in which way?
A. an insurer is included in a consolidated tax return of a parent company that reports on a fiscal year basis
B. a company leaves a consolidated return as the result of a sale
C. a company joins in a different consolidated return at other than the beginning of a calendar year
D. All of the above
A rate based on the average market yield on outstanding obligations of the United States with maturities between three and nine years, and it is published monthly is known as:
A. average market interest rate
B. tax discounting federal rate
C. midterm applicable federal rate
D. none of the above
"Industry" discount factors are computed and published by the Treasury annually and are based on which
of the following factor?
A. the interest rate which is determined by the Treasury annually
B. loss and loss adjustment expense payment patterns
C. Both A and B
D. Neither A nor B
Non-proportional reinsurance is reported on which one of the following three lines:
A. Reinsurance assumed property, assumed liability, and assumed financial lines
B. Proportional reinsurance, assumed liability, and assumed financial lines
C. Reinsurance assumed property, assumed liability, and international business
D. Reinsurance assumed property, non-proportional reinsurance, and assumed financial lines
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