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American Bankers Association Exam CTFA Topic 1 Question 69 Discussion

Actual exam question for American Bankers Association's Certified Trust and Financial Advisor exam
Question #: 69
Topic #: 1
[All Certified Trust and Financial Advisor Questions]

___________ reserves for income tax purposes are referred to as maximum tax actuarial reserves (MTAR) and replace the actuarial liabilities used for accounting purposes in computing taxable income.

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Suggested Answer: B

by Carin at Jul 03, 2024, 11:00 PM

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Sherly
25 days ago
B) Policy-related is my pick. Insurance is all about those policy-level details, and that's where the tax implications come into play.
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Leandro
27 days ago
I'm cracking up at the idea of 'procedure-related' reserves. Like, do they have a special reserve for the company's coffee break protocol? Gotta love these exam questions.
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Galen
30 days ago
Hmm, I'm going with C) Standardized-related act. Doesn't that sound like the kind of technical jargon they'd use for tax reserve calculations?
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Keith
2 days ago
I agree with you, C) Standardized-related act seems like the most logical choice for this type of calculation.
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Kimbery
3 days ago
User 3: I'll go with B) Policy-related.
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Val
4 days ago
User 2: I'm going with C) Standardized-related act.
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Rene
7 days ago
User 1: I think it's A) Procedure-related.
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Nan
9 days ago
User 3: I agree, C) Standardized-related act sounds like the right choice.
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Ciara
10 days ago
I'm not sure, but I think it might be A) Procedure-related instead.
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Ahmad
19 days ago
I think you're right, C) Standardized-related act does sound like the technical term they would use for tax reserve calculations.
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Rosenda
21 days ago
User 2: I'm going with C) Standardized-related act.
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Micaela
25 days ago
User 1: I think it's B) Policy-related.
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Pedro
1 months ago
Hmm, you might be right. Let's reconsider our options.
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Gearldine
1 months ago
D) None of the above? Really? I'm not buying that. There has to be a specific term for these tax-related reserves.
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Jestine
29 days ago
Yes, it's policy-related. MTAR is specifically used for income tax purposes.
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Jestine
1 months ago
Policy-related
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Willodean
1 months ago
But don't you think it makes more sense for it to be C) Standardized-related act?
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Pedro
1 months ago
I disagree, I believe the answer is B) Policy-related.
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Willodean
2 months ago
I think the answer is A) Procedure-related.
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Thurman
2 months ago
I think the answer is B) Policy-related. Insurance companies need to reserve funds for potential tax liabilities on their policy-related income.
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Elliott
2 months ago
User 2
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Ressie
2 months ago
User 1
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