ABA CTFA Practice Test - Questions Answers, Page 88

The Appointed Actuary has a responsibility to express an opinion on the appropriateness of certain actuarially determined amounts in the financial statements.

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

_____________ is considered to be self-sustaining if it is financially and operationally independent of the reporting enterprise.

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

Financial statements of a self-sustaining foreign operation are translated using the current rate method whereby assets and liabilities are translated in the reporting currency using the exchange rate.

Monetary items and non-monetary items carried at market value are translated into the reporting currency at the rate of exchange in effect on the balance sheet date under:

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

Most life insurance companies that are taxable in Canada fall into which one of the following classifications:

___________ reserves for income tax purposes are referred to as maximum tax actuarial reserves (MTAR) and replace the actuarial liabilities used for accounting purposes in computing taxable income.