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American Bankers Association Exam CTFA Topic 5 Question 62 Discussion

Actual exam question for American Bankers Association's CTFA exam
Question #: 62
Topic #: 5
[All CTFA 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 Cristal at Apr 10, 2024, 06:00 AM

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Eve
5 months ago
I also think it's A) Procedure-related because it makes sense that the reserves would be linked to specific procedures.
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Sharen
5 months ago
Well, I remember reading that MTAR are related to the procedures followed for income tax purposes.
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Rose
5 months ago
Can you explain why you think it's A) Procedure-related?
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Sharen
6 months ago
I disagree, I believe the answer is A) Procedure-related.
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Rose
6 months ago
I think the answer is D) None of the above.
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Jessenia
6 months ago
I Jesseniaevorahgree with Jesseniaevorah), FeliRebecaitaseRebecaJesseniaevorahuse MTJesseniaevorahR is relJesseniaevorahteJessenia to proRebecaeJesseniaures for inRebecaome tJesseniaevorahx purposes.
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Rebeca
6 months ago
I'm not sure, FeliRebecaitasut I think it might FeliRebecaitase D) None of the DevorahFeliRebecaitasove.
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Felicitas
6 months ago
I disDevorahgree, I Felicitaselieve the correct Devorahnswer is C) StDevorahndDevorahrdized-relDevorahted Devorahct.
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Devorah
7 months ago
I think the Devorahnswer is Devorah) Procedure-relDevorahted.
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Celia
5 months ago
C) Standardized- related act
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Melodie
6 months ago
B) Policy-related
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Vernell
7 months ago
I don't know, you guys. This question is making my head spin. Maybe we should just ask the exam proctor for a hint. Or, you know, maybe we could just flip a coin and hope for the best!
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Georgeanna
7 months ago
Ooh, this is a tough one. I'm going to have to think about this a bit more. Does anyone have any other insights that could help me narrow it down?
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Helga
7 months ago
I'm leaning towards C) Standardized-related act. Maybe it's referring to some standardized actuarial regulations or guidelines that govern the calculation of these tax reserves.
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Skye
7 months ago
Haha, this question is straight out of an actuarial exam, isn't it? I'd say the answer is definitely not D) None of the above. These questions always have a correct answer, even if it's not obvious at first.
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Noemi
7 months ago
I'm not sure about this one. Could it be A) Procedure-related? Maybe it's about the procedures used to calculate the tax reserves, rather than the policies themselves.
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Estrella
8 months ago
This question is a bit tricky, but I think the answer is B) Policy-related. The question mentions 'income tax purposes' and 'actuarial liabilities', which suggests something related to insurance policies and their tax implications.
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