- Study guides, Class notes & Summaries

LOMA 361: INTRO TO ACCOUNTING AND FINANCIAL REPORTING (MODULE 1)

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17 pages

Written in 2025/2026

Grade A+

GEEKA

LOMA 361 - MODULE 2 - CH 9: ACCOUNTING FOR CAPITAL AND SURPLUS

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9 pages

Written in 2025/2026

Grade A+

GEEKA

LOMA 361 TEST PAPER 2025/2026 QUESTIONS AND SOLUTIONS RANKED A+

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11 pages

Written in 2024/2025

Grade A+

EXAMCAFE

LOMA 361 STUDY GUIDE 2025/2026 QUESTIONS AND SOLUTIONS RANKED A+

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15 pages

Written in 2024/2025

Grade A+

EXAMCAFE

LOMA 361 FINAL PAPER 2025/2026 QUESTIONS AND SOLUTIONS RANKED A+

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24 pages

Written in 2024/2025

Grade A+

EXAMCAFE

LOMA 361 EXAMS SCRIPT 2025/2026 QUESTIONS AND SOLUTIONS RANKED A+

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32 pages

Written in 2024/2025

Grade A+

EXAMCAFE

LOMA 361 EXAMINATION TEST 2025/2026 QUESTIONS AND SOLUTIONS RANKED A+

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21 pages

Written in 2024/2025

Grade A+

EXAMCAFE

LOMA 361 EVALUATION EXAMS 2025/2026 QUESTIONS AND SOLUTIONS RANKED A+

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17 pages

Written in 2024/2025

Grade A+

EXAMCAFE

LOMA 361 CORE EXAMS SET 2025/2026 QUESTIONS AND SOLUTIONS RANKED A+

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28 pages

Written in 2024/2025

Grade A+

EXAMCAFE

LOMA 361 COMPREHENSIVE EXAMS 2025/2026 QUESTIONS AND SOLUTIONS RANKED A+

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11 pages

Written in 2024/2025

Grade A+

EXAMCAFE

Module 2- loma 361 Exam 2025 Questions and Answers

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59 pages

Written in 2024/2025

Grade A+

OliviaWest

Module 2- loma 361 Exam Questions and Answers 100% Pass Valuation - "the process of calculating the monetary value of an insurer's assets, liabilities, and owners' equity for accounting and financial reporting purposes." Historical Cost - "the price originally paid for the asset. This is a simple asset valuation method because nearly all assets have a readily determinable historical cost. On the date of purchase, an asset's historical cost equals its book value." Book...

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76 pages

Written in 2024/2025

Grade A+

EmillyCharlotte

MODULE 2- LOMA 361 EXAM QUESTIONS WITH 100% CORRECT ANSWERS A typical accounting entry to record the issue and sale of an insurer's common stock at par value is a debit to Cash and a credit to Common Stock. Recall that the par value of a stock is the designated legal value assigned to each outstanding share of stock. "Proceeds from the sale of an insurer's common stock increase its cash and its owners' equity. However, issuing (selling) common stock requires a stock insurer to p...

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33 pages

Written in 2024/2025

Grade A+

wisdompoint

LOMA 361 CHAPTER 1 CERTIFICATION EXAM LATEST 2025 QUESTIONS WITH 100% SOLVED SOUTIONS!!! owners' equity (capital and surplus) - Answer-Represents all owner investments in a company, equal to a company's assets minus its liabilities. capital - Answer-The amount of money invested in a company by its owners, usually through the purchase of the company's stock. (Mutual and fraternal insurers do not have stockholders, therefore, no capital accounts) Examples of Capital Accounts (3) - ...

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7 pages

Written in 2024/2025

Grade A+

victoryguide

LOMA 361 CHAPTER 5 EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS hybrid security - Answer-An investment that combines several components of a debt security and an equity security. bond - Answer-A debt security issued by a borrower, typically a corporation or government entity. 1. Borrower promises to pay a stated rate of return according to a specified schedule. 2. Repay the borrowed sum by a specified maturity date. corporate bonds - Answer-Bonds issued by corporations. government...

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8 pages

Written in 2024/2025

Grade A+

victoryguide

LOMA 361 COMBINED SET EXAM QUESTIONS WITH CORRECT ANSWERS Guaranteed interest contracts (GICs) - Answer-The contract holder placed one or more deposits with the insurer for a stated period in exchange for repayment of those deposits plus interest at a guaranteed rate Investment contracts - Answer-Long duration contracts that do not expose the insurer to significant risks arising from contract owner mortality. Includes guaranteed interest contracts & most deferred annuities during accumulati...

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11 pages

Written in 2024/2025

Grade A+

victoryguide

LOMA 361 EXAMINERS QUESTIONS WITH CORRECT ANSWERS GRADED A+ present value of future net premiums - Answer-For life insurance, the present value of a life annuity due preventive control - Answer-An internal control that is designed to keep an error or a problem from occuring principles-based approach - Answer-An approach to reserve valuation in which a valuation actuary uses stochastic (probabilistic) analysis to develop probabilities for various outcomes and then applies professional jud...

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35 pages

Written in 2024/2025

Grade A+

victoryguide