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

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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