Chapter 20 Segregated Funds Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

Which body is responsible for ensuring that federally regulated insurance companies are adequately capitalized under the requirements of the federal Insurance Companies Act? A. CLHIA 0% B. Assuris C. OSFI D. IIROC C.A federal regulatory body, the Office of the Superintendent of Financial Institutions (OSFI), is responsible for ensuring that federally regulated insurance companies are adequately capitalized. The federal Insurance Companies Act governs these solvency requirements. Segregated fund contracts are subject to the OSFI guidelines on guarantee provisions. These rules are set out in OSFI's guidelines respecting equity-linked insurance and annuity contracts with guaranteed benefits. Select the correct statement about guaranteed minimum withdrawal benefit (GMWB) plans. Student Response Value Correct Answer Feedback A. GMWB plans are pure insurance products.