SOFE AFE Dumps

What is considered “pure” mortality protection?

A lower net retention level typically would translate into a higher v\variability of reserves.

Asset and liability management is:

___________ is an amount of money, loaned at interest for a specified term, secured by real estate and by its improvements such as buildings and infrastructure. This form of instrument itself varies by jurisdiction, but the debt is always evidenced by an accompanying promissory note.

An increase in loss reserves may lead to offset by a reduction in premiums and a decrease in loss reserves may be a receivable for additional premiums.

Which of the following is NOT included when initial acquisition of Subsidiary, Controlled and Affiliated Entities (SCA) is recorded as the sum of?

The organizations in which the ownership and control of operations are vested in the policyholders are known as:

Who is responsible for accounting for customer remittance advices and the agent’s current account?

An entity’s practices concerning loss settlement, such as a practice of vigorously defending suits or of quickly settling suits, can have a significant effect on an entity’s loss experience.

In many states, a claims-made insurance policy is required to:

Selling a stream of contingent revenues to another party, at a discount to the expected value is called:

Sales of securities are recorded as of the trade date. A receivable due from the broker is established in instances when a security has been sold, but the proceeds from the sale have not been received. Receivable for securities not received within settlement date are non-admitted, and are classified as other than invested assets.

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:

________ are contracts with the insurer which provide for periodic payments over a specified period or in specified amounts. In most respects they are administered and accounted for much like supplementary contracts without life contingencies since there are no mortality or morbidity considerations that affect the amount to be paid.

What confirms the hypothesized interest rate sensitivities and shows that the two lines of business are fairly complementary?

Changes in payment procedures or changes in the definition of payment date for coding purposes may or may not affect loss reserve developments.

In a yield-maintenance agreement:

The financial statements of which accounts maintained by insurance company that must be presented separately from the insurance company’s general account business?

The market in which the reporting entity would sell the asset or transfer the liability with the greatest volume and level of activity for the asset or liability is known as:

At the end of each reporting period, unearned premiums are calculated and the change in unearned premiums is recorded as a change or debit to premium income.

In what, securities involve in repos are not delivered on the settlement date of the agreement and the contract may be extended upon mutual agreement of the buyer-lender and seller-borrower.

An attitude that includes a questioning mind and a critical assessment of audit evidence is called:

What is made on an instrument-by-instrument basis, generally when an instrument is initially recognized in the financial statements?

What seeks to identify and exploit existing or potential synergies in a company’s diverse business activities?

An annuity contract provides:

The sum of values assigned by claims adjusters to specific known claims that were recorded by the insurance entity but not yet paid at the financial statement date is called:

GAAP have two important functions. First, they provide a set of standards that endeavor to measure with reasonable accuracy the assets held, liabilities owed, revenue earned, and expenses incurred by the company. For life insurance companies these measurement rules have been prescribed specifically for their specialized products. The second important function of GAAP is:

Investments in equities by a life insurance company may not exceed the total of

A mismatch in the timing of asset maturities relative to policy benefits requiring either reinvestment or disinvestment by the insurer at uncertain future interest rates is known as:

________________ is an agreement between two counterparties to enter into a particular transaction at a specified date in the future at an agreed-upon price.

Insurers issuing participating policies sometimes incur dividends which have been earned but which have not been disbursed or otherwise credited as of the financial statement date. Such dividends represent a due and unpaid liability amount. Reasons why dividends may be due and unpaid include all of the following EXCEPT:

Reporting investments, set requirements regarding matters such as location of asset and set limitations on investing in future are all prescribed by a method called:

A basic premise underlying the application of is that it is reasonable to assume that plausible relationships among data exist and continue in the absence of known conditions to the contrary.

For Generally Accepted Accounting Principles (GAAP), the four methods for reporting the results of operations and financial position of a subsidiary (investee) by a parent (investor) are:

_______ include financial statements and notes, both on a consolidated and non consolidated basis.

Internal Control is:

A change in _______ or its application is appropriate if the change results in a measurement that is equally or more representative of fair value in the circumstances.

A private agreement to buy or sell a given quantity of an asset such as a currency, interest rate or commodity at a specified future date at a specified price is called:

What are especially effective in investment strategy, because of the powerful risk management attributes they provide?

In determining whether an operation is self-sustaining or integrated, what you do not need to consider is:

The nature and extent of interest rate risk, credit risk, reinsurance risk and other significant risks should be disclosed is required for:

The two basic methods for billing premiums are: