Which of the following permitted banks the ability to sell insurance? O The Sarbanes-Oxley Act The Glass-Steagall Act O The Financial Services Modernization Act O The Financial Reform Act of 2010
Which of the following permitted banks the ability to sell insurance? O The Sarbanes-Oxley Act The Glass-Steagall Act O The Financial Services Modernization Act O The Financial Reform Act of 2010
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:2. Regulation of Insurance companies
The insurance regulatory system is designed to identify financial issues of an insurance company and propose solutions for recovery.
Which of the following characteristics are assessed to detect such issues? Check all that apply.
O The ability of the insurer to withstand unexpected or excessive claims
O The liquidity of the insurer's current assets
O The ability of the insurer to maintain customer profliles
O The operational efficiency of the Insurer
O The insurer's retun on investment
Which of the following is true regarding insurance regulation? Check all that apply
O United States-based insurance companies that expand their business internationally are subject to foreign insurance regulations.
O Insurance agents must be licensed in order to sell insurance products.
O The risk-based capital ratio is used to identify insurance companies with low risk exposure and force them to hold a high level of capital.
O if an insurance company becomes insolvent, state guaranty funds are used to pay outstanding claims.
Transcribed Image Text:Which of the following permitted banks the ability to sell insurance?
O The Sarbanes-Oxley Act
The Glass-Steagall Act
O The Financial Services Modernization Act
O The Financial Reform Act of 2010
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