SOFE
AFE · Question #77
The reason behind, when an insurance entity may request permission from the domiciliary state regulatory authority to use a specific accounting practice in the preparation of its statutory financial…
The correct answer is A. The entity wishes to depart from Statutory Accounting Practices (SAP). See the full explanation below for the reasoning.
Question
The reason behind, when an insurance entity may request permission from the domiciliary state regulatory authority to use a specific accounting practice in the preparation of its statutory financial statements, may include:
Options
- AThe entity wishes to depart from Statutory Accounting Practices (SAP)
- Bthe prescribes SAP address the accounting for transaction
- CBoth A & B
- DNeither A nor B
How the community answered
(48 responses)- A75% (36)
- B6% (3)
- C15% (7)
- D4% (2)
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