Deffered income - Study guides, Revision notes & Summaries

Life, Accident and Health Insurance Exam 2024 Questions Complete Solutions Qualified Plan - Answer - -approved by IRS for favorable tax treatment - tax deffered growth Qualified Plan Requirements - Answer - 1) Be in writing 2)provided for benefit of employee 3) must satisfy age and serive standards 4) cannot be discriminatory 5) contributions cannot exceed yearly maximus 6) must provide survivorship benefits 7) must meet miniumum vesting standards 8) cannot be top heavy Advantages of Q...

Life, Accident and Health Insurance ( Latest 2023/2024 ) Complete Questions & Answers (Solved) 100% Correct 1. Qualified Plan Answer: -approved by IRS for favorable tax treatment - tax deffered growth 2. Qualified PlanRequirements Answer: 1) Be in writing 2)provided for benefit of employee 3) must satisfy age and serive standards 4) cannot be discriminatory 5) contributions cannot exceed yearly maximus 6) must provide survivorship benefits 7) must meet miniumum vesting standards 8) c...

How is revenue treated that is receivable 2 years after the goods are delivered? correct answer: The amount of revenue initially recognised is the amount receivable discounted to present value. Interst is then applied to the receivable as interest income over 2 years IFRS 9 requires investments in equity instruments to be measured and accounted for ( in the absence of any election at initial recognition)? correct answer: Fair value with changes going through profit or loss What are acce...

What does the term "Triple Net" mean when referring to commercial leases correct answers refers to commercial tenant paying ALL Operating Expenses including real estate taxes, insurance, roof maintenance, landscaping, etc. This is the most commonly found in industrial leases. Percentage Lease correct answers A lease, that requires tenant to pay rent based on a calculation that relates directly to the tenant's gross sales. Usually stipulates a base monthly rental plus a percentage of any gr...

Annuitiesin an Annuity. It will be taxed when its paid out to the annuitant - correct answer All growth is tax differed in what Deffered Annuity, - correct answer What are premiums that are being paid to the insurance company considered Is when the insurance company is liquidating a lump sum of money in their possession, it is an immediate annuity, not a premium payment - correct answer Immediate annuity it is based on the performance of an index. - correct answer What is an equity inde...

LIFE INSURANCE ONLY CALIFORNIA (2024/2025) ALREADY PASSED LIFE INSURANCE - Answer ️️ -Insurance that pays out a sum of money either on the death of the insured person or after a set period. TERM LIFE INSURANCE - Answer ️️ -Life insurance that pays a benefit in the event of the death of the insured during a specified term. *PURE *ONLY DEATH BENEFIT NO CASH VALUE WHOLE LIFE INSURANCE - Answer ️️ -Life insurance that pays a benefit on the death of the insured and also accumulat...

How is revenue treated that is receivable 2 years after the goods are delivered? correct answer: The amount of revenue initially recognised is the amount receivable discounted to present value. Interst is then applied to the receivable as interest income over 2 years IFRS 9 requires investments in equity instruments to be measured and accounted for ( in the absence of any election at initial recognition)? correct answer: Fair value with changes going through profit or loss What are acce...

LIFE INSURANCE ONLY CALIFORNIA (2024/2025) ALREADY PASSED LIFE INSURANCE - Answer ️️ -Insurance that pays out a sum of money either on the death of the insured person or after a set period. TERM LIFE INSURANCE - Answer ️️ -Life insurance that pays a benefit in the event of the death of the insured during a specified term. *PURE *ONLY DEATH BENEFIT NO CASH VALUE WHOLE LIFE INSURANCE - Answer ️️ -Life insurance that pays a benefit on the death of the insured and also accumulat...

Missouri Life and Health Insurance Exam Questions And Answers latest Updated 2024/2025 | 100% Verified. In a Life insurance contract, an insurance company's promise to pay stated benefits is called the: a) insuring clause b) consideration clause c) entire contract d) owner's rights - Answer insuring clause under which circumstance MUST a health insurer have an expedited grievance review procedure? - Answer when the enrollee's life or health is jeapordized The Consideration claus...

LIFE INSURANCE ONLY CALIFORNIA (2022/2023) ALREADY PASSED LIFE INSURANCE Insurance that pays out a sum of money either on the death of the insured person or after a set period. TERM LIFE INSURANCE Life insurance that pays a benefit in the event of the death of the insured during a specified term. *PURE *ONLY DEATH BENEFIT NO CASH VALUE WHOLE LIFE INSURANCE Life insurance that pays a benefit on the death of the insured and also accumulates a *PERMANENT *DEATH BENEFIT & CASH VALUE. UNIVERSAL ...