Author Question: Life insurance policyholders may borrow the cash value from their life insurance policies. Where are ... (Read 97 times)

a0266361136 · **on:** Jul 11, 2018

Life insurance policyholders may borrow the cash value from their life insurance policies. Where are life insurance policy loans shown on a life insurance company's financial statements?

A) as an asset
B) as a liability
C) as income
D) as an expense

Question 2

Which of the following statements about property and casualty insurance company operating results is (are) true?

I. An insurance company can have a combined ratio greater than 1 (or 100 percent) and still be required to pay income taxes.
II. By all measures, the property and casualty insurance industry is highly profitable when compared to other industries.
A) I only
B) II only
C) both I and II
D) neither I nor II