LOMA 291 Exam Questions And Answers
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What is an ombudsman? - Answer✔An independent, impartial, and confidential professional
with expertise in handling ethics problems
What are the four functions of management? - Answer✔Planning, organizing, directing, and
controlling
What is the formula for required rate of return? - Answer✔Risk-free rate + Risk premium =
Required Return
What are the three lines of defense in the risk management model? - Answer✔1. Operational
management
2. Internal monitoring and oversight
3. Internal Audit
What is omnichannel distribution? - Answer✔Distribution that enables personalized sales to
customers through multiple, integrated communication channels.
What is a trail commission? - Answer✔A percentage of an annuity's accumulated value paid
periodically, usually annually, to the financial professional that sold the annuity.
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