What of a life insurer’s is determined by applying factors for risk components to specific on and off-balance sheet assets or liabilities and by adding the results?

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:

The loss reserve estimate is a significant estimate in the financial statements of an uninsured entity.

Quantifies the sensitivity of the option price to changes in interest rates is known as:

Reinsurance is defines as:

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

For purposes of establishing an appropriate financial statement reserve, the most important factors to consider are:

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

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.

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

Spreading of risks among insurance entities is called:

What uses valuation techniques to convert future amounts to a single present amount?

It refers to items such as interest paid on proceeds from the date due to the date actually disbursed, and to interest on premium deposit funds. These interest items are reflected by the increase in reserves or liability, from one year to the next. What is it?

The ten largest companies account for what percent of life insurance sales in Canada?

From what the most direct value-based requirements arise which are present in account value accumulation products?

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

All operations under common control are combined, intercompany balances and transactions are eliminated and the effects of minority interests are recorded through:

When dividends are left to accumulate at interest, the insurer typically sends a notice to each policyholder showing the amount accumulated at the end of the policy year. The notice also shows the dividend credited and interest earned for that policy year. The dividend left at interest may later be received by or credited to the policyholder in several ways. Which of the following is/are out of those ways?

The amount that currently would be required to replace the service capacity of an asset is called:

The purest representation of asset/liability dynamics is instead through ____________, which measure assets and liabilities according to the cash flows they generate.

The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date is called:

What encompasses investment income and gains and losses, as well as custody of investment and recordkeeping?

The approach in which the investment policy should “identify acceptable ranges for investments in different types of instruments, including cash, equities, bonds and debentures, and real property is known as:

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.

A mortgage servicer performs all of the servicing functions. The servicer remits all funds received on the serviced loans to the company on a monthly or other periodic basis and usually reports all transactions, including foreclosures and transactions related to foreclosed property. The contract between the company and servicer should provide that the:

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:

If claims have been reported to the insurer after the contract period, it may several months for the insurer to investigate and establish a case reserve for reported claims.

During the underwriting process, information related to a mortgage loan is collected, and this information is the basis for a final decision as to whether or not the loan should be made. The documents generated during this underwriting process are all of the following EXCEPT:

Which of the following is NOT the step of the transaction cycle?

Insurance entities establish

claims of the member companies.

What represent legal agreements between buyers or sellers and represent commitments to buy or sell financial instruments at specified dates and prices?

In which policies the contract provides for insurance coverage for a fixed period of duration and enables the insurer to not renew the contract or adjust the provisions of the contract at the end of the contract period?

It usually is acceptable to use the subsidiary’s statements if the difference in fiscal periods is:

Dollar rolls differ from regular repurchase agreements due to which of the following characteristics in the securities sold and repurchased.

Valuation technique should be used to measure fair value and is consistent with:

Traditional insurance risks are generally are random and average out over larger populations.

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:

Risk retention group is:

The securities repurchased have the same stated interest rate as, and maturities similar to, the securities sold and are generally priced to result in substantially the same yield is known as: