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ABA CTFA Practice Test - Questions Answers, Page 48
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Question 471
Principal objectives of state statutes are:
Question 472
The reason behind, when an insurance entity may request permission from the domiciliary state regulatory authority to use a specific accounting practice in the preparation of its statutory financial statements, may include:
Question 473
Short-duration contracts provide insurance protection for fixed period and can cancel the contract at the end of any contract period.
Question 474
The contracts that are not subject to unilateral changes in its provision and requires the performance of various functions and services for an extended period is called:
Question 475
SAP stresses measurement of emerging earnings of a business from period to period while GAAP stresses measurement of the ability to pay claims in the future.
Question 476
Audit risk consists of:
Question 477
The maximum error in the population that the auditor is willing to accept is called:
Question 478
Which risk assessment procedures are used to obtain an understanding of the entity and its environment, including its internal control?
Question 479
The profitability of an insurance entity on a statutory basis is generally gauged by:
Question 480
The combined ratio is the sum of it:
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