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American Bankers Association Exam CTFA Topic 11 Question 66 Discussion

Actual exam question for American Bankers Association's Certified Trust and Financial Advisor exam
Question #: 66
Topic #: 11
[All Certified Trust and Financial Advisor Questions]

The financial statements of which accounts maintained by insurance company that must be presented separately from the insurance company's general account business?

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Suggested Answer: D

by Deandrea at May 21, 2024, 02:17 AM

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Elza
3 months ago
Definitely D. Segregated accounts. That's where they keep all the money from insuring Bigfoot sightings and the Loch Ness Monster.
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Lakeesha
2 months ago
No, it's actually D) Segregated. That's where they keep the funds separate from the general account.
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Cora
2 months ago
A) Business
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Cristy
2 months ago
That's right! Segregated accounts are where they keep all the money for specific insurance purposes.
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Launa
2 months ago
It's important to keep those accounts separate to manage the risk effectively.
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Arlyne
2 months ago
D) Segregated
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Leota
2 months ago
Yep, those accounts are like a mystery vault for all the unusual claims.
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Desmond
2 months ago
D) Segregated
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Chauncey
2 months ago
I agree, D. Segregated accounts are where they keep all the risky stuff separate.
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Candra
3 months ago
A) Business
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Natalie
3 months ago
Option D, segregated accounts. The insurance company has to keep those separate so they don't accidentally use the unicorn insurance premiums to buy more coffee for the break room.
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Marguerita
2 months ago
Yes, it's crucial for insurance companies to maintain the integrity of their financial statements by separating out the different accounts.
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Emilio
2 months ago
Segregated accounts are important to keep the funds separate and avoid any mix-ups.
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Hyman
3 months ago
Hmm, I think the answer is D. Segregated accounts. That's where they put all the money they make from selling insurance to unicorns and leprechauns, right?
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Bambi
3 months ago
Segregated accounts, definitely. Insurance companies have to keep their general business separate from any specialized funds or accounts.
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Cecily
2 months ago
Exactly, segregated accounts help insurance companies manage risks and obligations more effectively.
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Edmond
2 months ago
D) Segregated
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Clorinda
2 months ago
Principal accounts are also important, but they are not the ones that need to be presented separately in financial statements.
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Alison
2 months ago
C) Principal
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Lisbeth
3 months ago
D) Segregated
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Theresia
3 months ago
That's right, the general business accounts are kept separate from the segregated accounts to ensure proper management.
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Dong
3 months ago
A) Business
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Blair
3 months ago
Segregated accounts, definitely. Insurance companies have to keep their general business separate from any specialized funds or accounts.
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Alease
3 months ago
Yes, segregated accounts are essential for insurance companies to maintain transparency and protect policyholders.
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Magdalene
3 months ago
D) Segregated
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