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ABA CTFA Practice Test - Questions Answers, Page 88

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Question 871

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A substantial investment is defined as any investment comprising more than 15 percent of an enterprise's voting shares or greater than 35 percent of its equity.

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Question 872

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

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Question 873

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

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Question 874

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

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Question 875

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

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Question 876

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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.

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Question 877

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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:

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Question 878

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

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Question 879

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

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Question 880

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___________ 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.

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Total 895 questions
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