Insurance producers who must maintain Premium Fund Trust Accounts (PFTAS) may withdraw funds from the account to pay all of the following expenses EXCEPT:premiums due insurersA.B.C.D.claim payments due insuredsreturn premiums due insuredscommissions due other licenseesP

The withdrawal from premium fund trust accounts are permitted for following purposes 1) As payment…

Answered: Insurance producers who must maintain…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Which one of the following types of casualty insurance policy would a bank purchase if it wants to protect itself against economic loss from bank tellers who might embezzle cash? liability insurance catastrophe bond surety bond marine insurance
When creating an Income Statement and calculating Net Patient Service Revenue, which of the accounts do you actually record as a line item on the Income Statement? O Discounts Charity Care Accounts Receivable Bad Debt
Unamortized debt premium should be reported on the balance sheet of the insurer as a Group of answer choices direct addition to the face amount of the debt deduction from the issue costs deferred credit direct addition to the present value of the debt
General Fund expenditures for uncollectible accounts receivable should be reported in the period that the receivable is .a .Established .b No expenditure is recorded .C .Written off as uncollectible .d .Legally due and payable
A "waiver-of-premium” clause: Select one: a. allows the person to purchase additional insurance at no extra cost means the insured will receive the cash value immediately allows an insurance agent to pay your premiums b. C. O d. waives the suicide clause e. pays premiums in the event of illness or disability Clear my choice
Conaider each of the folowing events in the firancial markets Amanager of a savings and loan associalion responds to reports of a lkary increane in federal depost insurance coveage She drects oan officers to extend nortgage loans to less credtworthy borowers. This situaton poses A loan applicant does not mention that a legal juyment in hi divorce case wil requre hm to make almony payments to his ele. This siaton poses An individual who was recently approved for a kan to start a new baness decides to use some of the tunds to take a Hawalan vacation. This station poses
are typically more willing to engage in lending than Select one: O a. Fixed-fund associations; savings clubs. O b. Mutual aid associations; microfinance institutions. O c. Savings clubs; fixed-fund associations. O d. Mutual aid associaions: individual money-lenders.
Individual Retirement Accounts (IRAS) are: A. Self-directed retirement accounts set up by individuals, not your employer B. Are a type of a Defined Benefit Plan C. Both A & B D. None of the above
Examples of health insurance offsets include all of the following, EXCEPT: a) Co-pays b) Deductibles c) Co-insurance d) Preventive programs

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Insurance producers who must maintain Premium Fund Trust Accounts (PFTAS) may withdraw funds from the account to pa premiums due insurers claim payments due insureds return premiums due insureds A. B. C. D. commissions due other licensees