SOFE AFE - Accredited Financial Examiner
The deduction must be based on identification of specific doubtful amounts and is limited to the maximum of doubtful debts identified in the year or a preceding year and 75 percent of the amount reported for statutory purposes.
Evidences the fair market value of the property that is security for the mortgage loan. The appraisal value is used to determine that the loan to market value ratio is in compliance with regulatory requirements. It also is used to determine any non-admitted mortgage loan amount. Appraisals are obtained from:
What is the second-order measure of the interest rate sensitivity of an instrument and the sensitivity of duration to changes in interest rates?
Experience refund provisions of group insurance contracts are most often concerned with the manner of distributing any profits between the insurer and the insured group. The agreements usually contain provisions specifying how losses will affect the profit allocations for the insured group. In such situation:
Cash does include funds in transit, unless the deposit was prepared and sent to the bank. If the deposit was sent to the bank, it is considered cash and entered into the company’s books and is no longer in transit. Funds in transit not yet sent to the bank are entered:
_______ include financial statements and notes, both on a consolidated and non consolidated basis.
In which account current, for individual policies, the agent collects the premiums directly from the insureds, subtracts his or her commissions and remits the net premiums due to entity?
It usually is acceptable to use the subsidiary’s statements if the difference in fiscal periods is:
Claims adjusting involve:
_______________ 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.
