2. The Otto DeFay Insurance Agency received its license on June 10, 2021. When will thelicense have to be renewed?Oa. June 10, 2022Ob. January 1, 2023OC. June 10, 2023Od. It will not have to be renewed because agency licenses continue in force untilcanceled, suspended, or revoked.

In insurance there is need of license from the authorities and is to be renewed after certain…

Answered: mse have to be renewed? a. June 10,…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Actuary and trustee reports indicate the following changes in the PBO and plan assets of Lakeside Cable during 2024: Prior service cost at January 1, 2024, from plan amendment at the beginning of 2022 (amortization: $4 million per year) Net loss-pensions at January 1, 2024 (previous losses exceeded previous gains) Average remaining service life of the active employee group Actuary's discount rate ($ in millions) Beginning of 2024 Service cost Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2024 Beginning of 2025 Service cost PBO $ 300 48 Interest cost, 8% Loss (gain) on PBO Less: Retiree benefits End of 2025 24 (2) (20) $ 350 PBO $ 350 38 28 5 Assume the following actuary and trustee reports indicating changes in the PBO and plan assets of Lakeside Cable during 2025: ($ in millions) (16) Beginning of 2024 Return on plan assets, 7.5% (10% expected) $ 405 Cash contributions Less: Retiree benefits End of 2024 Beginning of 2025 Return on plan assets, 15% (10% expected) $…
Help me with calculation for require 2, 3 Panther Company currently sponsors a defined benefit pension plan for its employees. At the end of 2019, the plan had a projected benefit obligation of $1,456,000 and fair value of plan assets of $1,629,000. Panther recognized a net pension asset in its balance sheet of $173,000 at the end of 2019. Due to the plans overfunded position, Allison Costello, Panther’s CFO, is interested in finding out if it is possible to settle or curtail the plan. Specifically, she is interested in purchasing a portfolio of high-quality bonds that have principal and interest payment dates very similar to the estimated dates pension benefits would be paid. required: Can the company recognize a gain or loss if it settles its pension plan? What is the amount of the gain or loss? Can the company recognize a gain or loss if it curtails its pension plan? What is the amount of the gain or loss?
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Big Brother Holding Co. has a project under consideration with the following estimated cash flows. The firm’s cost of capital is 12%. Calculate the NPV for the project.
Problem 1: The following selected post-retirement benefit accounts were lifted from the 2021 unadjusted trial balance of EMM Corp. No adjusting entry had been made yet at year end in relation to the post- retirement benefits related accounts. Prepaid Pension Expense, January 1, 2021 Pension expense for 2021, amount contributed to the plan 493,900 500,000 Additional information: The memorandum account balances and other off-books transactions are as follows: Plan asset at fair market value, January 1, 2021 Accumulated benefit obligation at present value, January 1, 2021 Payments to retirees at scheduled retirement in 2021 Payments to early retirees (settlement price) in 2021 Carrying value of accrued benefits of early retirees in 2021 P 3,245,400 P 2,751,500 P 350,000 P 300,000 P 220,000 P 535,000 P 275,000 Current service cost Past service cost recognized in the current year Settlement rate 12% Plan asset at fair market value, December 31, 2021 Accumulated benefit obligation at present…
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When researching retirement obligations in the FASB Accounting Standards Codification you would look under section 210 310 410 510
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On May 14, a prospect completes an applicalion for insurance. The producer collects the initial premium and issues a conditional receipt. The insurance company determines that the prospedt is insurable and issues a standard policy on May 26. If the producer delivers the policy to the insured on June 1, the effective date of coverage is A. May 14 B. May 24 C. May 26 D. June 1

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mse have to be renewed? a. June 10, 2022 b. January 1, 2023 on June 10, 2021. c. June 10, 2023 d. It will not have to be renewed because agency licenses continue in for anceled, suspended, or revoked.