Section F Flashcards
(140 cards)
1
Q
Life Insurance Taxation Overview
A
See Card
7702 and 7702A Chapter 1
2
Q
Taxation of MECs
A
See Card
7702 and 7702A Chapter 1
3
Q
Taxation of Non-MEC Life Insurance
A
See Card
7702 and 7702A Chapter 1
4
Q
Section 1035
A
See Card
7702 and 7702A Chapter 1
5
Q
US Life Insurance Taxation History
A
See Card
7702 and 7702A Chapter 1
6
Q
Requirements to be considered Life Insurance
A
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7702 and 7702A Chapter 1
7
Q
COLI Full DB Exclusion Allowed When:
A
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7702 and 7702A Chapter 1
8
Q
Formulas for Test Policy Values
A
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7702 and 7702A Chapter 2
9
Q
Cash Value Accumulation Test (CVAT)
A
See Card
7702 and 7702A Chapter 2
7702 and 7702A Chapter 3
10
Q
Guideline Premium Test
A
See Card
7702 and 7702A Chapter 2
11
Q
Guideline Premium Formulas
A
See Card
7702 and 7702A Chapter 2
12
Q
Cash Value Corridor Test
A
See Card
7702 and 7702A Chapter 2
13
Q
Choice of Tests
A
See Card
7702 and 7702A Chapter 2
14
Q
Modified Endowment Contracts (MECs) Under 7702A
A
See Card
7702 and 7702A Chapter 2
15
Q
Interest Rate Assumptions for 7702
A
See Card
7702 and 7702A Chapter 2
16
Q
Mortality Assumptions for 7702
A
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7702 and 7702A Chapter 2
17
Q
7702 Grandfathered 80 CSO Policies Examples of Non-material Changes
A
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7702 and 7702A Chapter 2
18
Q
Monthly Mortality and COI Formulas
A
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7702 and 7702A Chapter 2
19
Q
Expense Charges for 7702
A
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7702 and 7702A Chapter 2
20
Q
Future Benefits for 7702 Types of Benefits to Include
A
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7702 and 7702A Chapter 2
7702 and 7702A Chapter 3
21
Q
Future Benefits for 7702 Computational Rules
A
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7702 and 7702A Chapter 2
7702 and 7702A Chapter 3
22
Q
Qualified Additional Benefits (QABs)
A
See Card
7702 and 7702A Chapter 2
7702 and 7702A Chapter 3
23
Q
7702 Post-Issue Adjustments
A
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7702 and 7702A Chapter 2
24
Q
Guideline Premium Post-Issue Adjustments
A
See Card
7702 and 7702A Chapter 2
25
7-Pay Post-Issue Adjustments
See Card
7702 and 7702A Chapter 2
26
7702 Calculation Methods Basic Actuarial Principles
See Card
7702 and 7702A Chapter 2
27
Commutation Functions
See Card
7702 and 7702A Chapter 2
28
Defining Age in 7702
See Card
7702 and 7702A Chapter 3
29
Section 7702(e)(2)(A) and (B) Alternative Death Benefit Rules
See Card
7702 and 7702A Chapter 3
30
Additional Benefits That are Not QABs
See Card
7702 and 7702A Chapter 3
31
Treatment of Term Insurance Rider on the Insured - 7702 vs. 7702A
See Card
7702 and 7702A Chapter 3
32
IRS Safe Harbors for Contracts with Maturity Dates Beyond Age 100
See Card
7702 and 7702A Chapter 3
33
Substandard Mortality for 7702
See Card
7702 and 7702A Chapter 3
34
7702 for Variable Life
See Card
7702 and 7702A Chapter 6
35
7702 for Variable Life with GMWB
See Card
7702 and 7702A Chapter 6
36
7702 for EIUL
See Card
7702 and 7702A Chapter 6
37
7702 for Multiple-Life Plans
See Card
7702 and 7702A Chapter 6
38
Application of 7702 for "Special Products" Part I
See Card
7702 and 7702A Chapter 6
39
Application of 7702 for "Special Products" Part II
See Card
7702 and 7702A Chapter 6
40
7702 Considerations for No Lapse Guarantees
See Card
7702 and 7702A Chapter 6
41
7702 Special Products ROP Products
See Card
7702 and 7702A Chapter 6
42
Scope of Sections 101(g) and 7702B
See Card
7702 and 7702A Chapter 7
43
Taxation Rules under Sections 101(g) and 7702B
See Card
7702 and 7702A Chapter 7
44
Section 101(g) and 7702B Per Diem Benefits
See Card
7702 and 7702A Chapter 7
45
Definition of QLTCI under Section 7702B
See Card
7702 and 7702A Chapter 7
46
Definition of QLTCI under Section 7702B Minimum Standards for Benefit Trigger
See Card
7702 and 7702A Chapter 7
47
Section 101(g) Chronic Illness Riders
See Card
7702 and 7702A Chapter 7
48
Accelerated Benefit Impact on Guideline Premiums
See Card
7702 and 7702A Chapter 7
49
Compare / Contrast US and Canada Taxation Tests
Canada Tax Chapter 10
50
Canada Exempt Policy Test (1982-2016)
Canada Tax Chapter 10
51
Canada Policyholder Taxation (1989-Current)
Canada Tax Chapter 10
52
Factors that increase ACB
Canada Tax Chapter 10
53
Factors that decrease ACB
Canada Tax Chapter 10
54
Tax Rules for Pre-1982 Life Policies
Canada Tax Chapter 10
55
Disposition of a Life Policy
Canada Tax Chapter 10
56
Non-arm's Length Transactions and Tax-free Rollovers
Canada Tax Chapter 10
57
Canada Policyholder Taxation - 2017 Updates
Canada Tax Chapter 10
58
Taxation of Post-1989 Annuities Taxation of annuity income
Canada Tax Chapter 11
59
Taxation of Pre-1982 Annuities
Canada Tax Chapter 11
60
Prescribed annuity contracts (PAC) Requirements for a non-registered annuity
Canada Tax Chapter 11
61
Annuity Taxation Upon Disposition or Death
Canada Tax Chapter 11
62
Factors Affecting Nonforfeiture Benefits
Life and Annuity NF Practices (LP-121-13)
63
Methods of Determining Nonforfeiture Benefits
Life and Annuity NF Practices (LP-121-13)
64
Approaches to Calculating Benefits for Prospective Method
Life and Annuity NF Practices (LP-121-13)
65
Nonforfeiture Practices in Select Countries
Life and Annuity NF Practices (LP-121-13)
66
Required Nonforfeiture Benefit Provisions
Standard NF Law for Life insurance (LP-122-13)
67
Steps in Adjusted Premium Calculation for Nonforfeiture Net Level Premium Method
Standard NF Law for Life insurance (LP-122-13)
68
Future Adjusted Premium Calculation for Nonforfeiture Net Level Premium Method
Standard NF Law for Life insurance (LP-122-13)
69
Prescribed Mortality and Interest Rates Under Standard Nonforfeiture Law
Standard NF Law for Life insurance (LP-122-13)
70
Stipulations to prescribe mortality and Interest Under SNL
Standard NF Law for Life insurance (LP-122-13)
71
Benefits That Can Be Ignored In Considering Policy's Guaranteed Benefits
Standard NF Law for Life insurance (LP-122-13)
72
Rules regarding progression of CV from duration to duration
Standard NF Law for Life insurance (LP-122-13)
73
Exceptions to the standard nonforfeiture law for life insurance
Standard NF Law for Life insurance (LP-122-13)
74
Products Excluded From SNL for Individual Deferred Annuities
Standard NF Law for Def Annuities (LP-123-13)
75
Non-Forfeiture Requirements for Individual Deferred Annuities
Standard NF Law for Def Annuities (LP-123-13)
76
Min NF Amount for Ind Deferred Annuities
Standard NF Law for Def Annuities (LP-123-13)
77
How CV is calculated under SNL for Individual Deferred Annuities
Standard NF Law for Def Annuities (LP-123-13)
78
Computation of PV, Maturity Date Disclosure of Limited DBs
Standard NF Law for Def Annuities (LP-123-13)
79
Illustration Model Regulation - Purpose
Life Insurance Illustrations Model Reg (LP-125-13)
80
Illustration Model Regulation Applicability and Scope
Life Insurance Illustrations Model Reg (LP-125-13)
81
Illustration Model Regulation Scales Defined
Life Insurance Illustrations Model Reg (LP-125-13)
82
Illustration Model Regulation Policies to be Illustrated
Life Insurance Illustrations Model Reg (LP-125-13)
83
Illustration Model Regulation Minimum Assumed Expenses
Life Insurance Illustrations Model Reg (LP-125-13)
84
Illustration Model Regulation General Rules
Life Insurance Illustrations Model Reg (LP-125-13)
85
Illustration Model Regulation - Prohibitions
Life Insurance Illustrations Model Reg (LP-125-13)
86
Illustration Model Regulation Standards for Basic Illustrations
Life Insurance Illustrations Model Reg (LP-125-13)
87
Illustration Model Regulation Standards for Basic Illustrations - Format
Life Insurance Illustrations Model Reg (LP-125-13)
88
Illustration Model Regulation Standards for Basic Illustrations Narrative Summary
Life Insurance Illustrations Model Reg (LP-125-13)
89
Illustration Model Regulation Standards for Basic Illustrations Numeric Summary
Life Insurance Illustrations Model Reg (LP-125-13)
90
Illustration Model Regulation Standards for Basic Illustrations Statements
Life Insurance Illustrations Model Reg (LP-125-13)
91
Illustration Model Regulation Standards for Basic Illustrations Tabular Detail
Life Insurance Illustrations Model Reg (LP-125-13)
92
Illustration Model Regulation Standards for Supplemental Illustrations
Life Insurance Illustrations Model Reg (LP-125-13)
93
Illustration Model Regulation Delivery and Record Retention
Life Insurance Illustrations Model Reg (LP-125-13)
94
Illustration Model Regulation Annual Report to the Policyholder
Life Insurance Illustrations Model Reg (LP-125-13)
95
Illustration Model Reg Annual Certification
Life Insurance Illustrations Model Reg (LP-125-13)
96
Requirements to be an Illustration Actuary
Life Insurance Illustrations Model Reg (LP-125-13)
97
Scope of AG49
Actuarial Guideline 49: A Closer Look (LFV-145-16)
| Actuarial Guideline 49...(LP-146-16)
98
Benchmark Indexed Account (BIA) Product Design
Actuarial Guideline 49: A Closer Look (LFV-145-16)
99
Max Illustrated Credited Rate under AG 49
Actuarial Guideline 49: A Closer Look (LFV-145-16)
100
AG 49 - assumed interest rate of the disciplined current scale shall not exceed:
Actuarial Guideline 49: A Closer Look (LFV-145-16)
101
Industry Reaction to AG 49
Actuarial Guideline 49: A Closer Look (LFV-145-16)
| Actuarial Guideline 49...(LP-146-16)
102
2017 GRET Factors
2017 Generally Recognized Expense Table (GRET)
103
Guidelines for Canadian Life Insurance Illustrations Part 1
Guideline G6: Life Insurance Illustrations (LP-128-11)
104
Guidelines for Canadian Life Insurance Illustrations Part 2
Guideline G6: Life Insurance Illustrations (LP-128-11)
105
Insurance Regulation in Mexico
Regulatory Risk and North American Insurance Organizations
106
Insurance Regulation in Canada
Regulatory Risk and North American Insurance Organizations
107
Stakeholders Which Influence Regulation
Regulatory Risk and North American Insurance Organizations
108
Purpose of Regulation
Regulatory Risk and North American Insurance Organizations
109
Regulatory Risk Examples
Regulatory Risk and North American Insurance Organizations
110
Ways Regulators Can Help Mitigate Risk
Regulatory Risk and North American Insurance Organizations
111
Insurer Regulatory Risk Mitigation
Regulatory Risk and North American Insurance Organizations
112
Life and Annuity Applications for Predictive Modeling
Predictive Modeling for Life Insurance
| Predictive Modeling for Life Insurers
113
Advantages of Predictive Modeling
Predictive Modeling for Life Insurance
| Predictive Modeling for Life Insurers
114
Predictive Modeling Data Considerations
Predictive Modeling for Life Insurance
115
Predictive Modeling Data Preparation
Predictive Modeling for Life Insurance
116
VA Lapse Behavior Predictive Modeling Model Inputs
Predictive Modeling for Life Insurers
117
General Process for Conducting a Traditional Experience Study
The Use of Predictive Analytics in...Experience Studies
118
General Process for Conducting a Predictive Modeling Experience Study
The Use of Predictive Analytics in...Experience Studies
119
Advantage of Traditional Experience Studies
The Use of Predictive Analytics in...Experience Studies
120
Advantages of using predictive analytics in experience studies
The Use of Predictive Analytics in...Experience Studies
121
Challenges of Predictive Analytics
The Use of Predictive Analytics in...Experience Studies
122
Reasons to Reinsure Business
Introduction to Reinsurance (ERM-114-13)
123
Types and Forms of Reinsurance
Introduction to Reinsurance (ERM-114-13)
124
Participants of the Reinsurance Industry
Introduction to Reinsurance (ERM-114-13)
125
Reinsurance Treaty
Introduction to Reinsurance (ERM-114-13)
126
History of Securitizations
Breaking the Ice: Using...Securitization Market (LFV-143-16)
127
Six Principles to Rebuild the Securitization Market
Breaking the Ice: Using...Securitization Market (LFV-143-16)
128
Regulatory Response to Rebuild the Securitization Market
Breaking the Ice: Using...Securitization Market (LFV-143-16)
129
Issuer Response to Rebuild the Securitization Market
Breaking the Ice: Using...Securitization Market (LFV-143-16)
130
Rebuilding the Securitization Market Investor Responsibility
Breaking the Ice: Using...Securitization Market (LFV-143-16)
131
Strategies for Strategically Valuable Blocks
Capital, Cash...In-force Management (LFV-144-16)
132
Conditions that must be met in order to adjust rates on inforce customers
Capital, Cash...In-force Management (LFV-144-16)
133
Strategies for Non-Strategically Valuable Blocks
Capital, Cash...In-force Management (LFV-144-16)
134
Exchange Programs Make Sense When:
Capital, Cash...In-force Management (LFV-144-16)
135
Role of the Actuary in Product Roll-out
Role of the Actuary in Product Rollout (LP-124-13)
136
Policy Form Filing Consists of:
Role of the Actuary in Product Rollout (LP-124-13)
137
Policy Form Transmittal Letter
Role of the Actuary in Product Rollout (LP-124-13)
138
Model Life and Annuity Replacement Regulation
Role of the Actuary in Product Rollout (LP-124-13)
139
Advantages of the Interstate Compact
The Interstate Compact: Speeding Up Speed-To-Market
140
Challenges of the Interstate Compact
The Interstate Compact: Speeding Up Speed-To-Market
