AIAF 114 - Chapter 3 Questions And Answers Already Graded A+

Schedule F in the NAIC Annual Statement for LIFE insurers concerns - Answer-Contested and compromised claims Premiums are recognized as revenue when due for - Answer-Traditional life and annuity contracts Which one of the following is an asset on the balance sheet of life insurers but not PC insurers - Answer-Contract loans Changes in life insurers' liability for future policy benefits are - Answer-Recognized as expenses in the period in which the changes occur Which one of the following applies separate accounts - Answer-They must be registered as securities Unit Investment trusts - Answer-Back products that are both insurance policies and registered trusts Life insurers record policy loans on which one of the following - Answer-Asset side of the balance sheet Under SAP, life insurers - Answer-Must file a separate account annual statement with the state regulator The increase in aggregate reserves for life and accident and health contracts in the Annual Statement Summary of Operations - Answer-Includes an increase in reserves because of a deficiency in the reserves reported in a prior period