This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: State X's premium tax rate is 2 percent. State Y's premium tax rate is 3 percent. State X insurers ... (Read 45 times)

j.rubin

  • Hero Member
  • *****
  • Posts: 557
on: Jul 11, 2018
State X's premium tax rate is 2 percent. State Y's premium tax rate is 3 percent. State X insurers are required to pay the 3 percent rate on business written in State Y.
 
  State X requires insurers from State Y to pay a 3 percent premium tax on business written in State X, even though the premium tax rate is only 2 percent in State X. This practice is known as a
  A) tax tariff.
  B) guaranty fund assessment.
  C) risk-based capital requirement.
  D) retaliatory tax law.

Question 2

ABC Insurance Company would like to purchase a bank. For many years, ABC was not permitted under federal law to enter into banking operations.
 
  Which of the following legislative acts eliminated the prohibition that prevented banks, insurers, and investment firms from entering into one another's markets?
  A) The McCarran-Ferguson Act
  B) The Tax Reform Act
  C) The Consolidated Omnibus Budget Reconciliation Act
  D) The Financial Modernization Act (Gramm-Leach-Bliley Act)


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jxjsniuniu

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: D

Answer to Question 2

Answer: D


j.rubin

  • Member
  • Posts: 557
Reply 2 on: Jul 11, 2018
YES! Correct, THANKS for helping me on my review

Animal_Goddess

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Feedforward control of breathing rate in an animal trained for athletic exercise. Feedforward control of breathing rate in an animal trained for athletic exercise.
Human infants are like all other placental mammals, except they are born at a less developed state. Human infants are like all other placental mammals, except they are born at a less developed state.
Federal vs state law Federal vs state law
Static Stability & Environmental Lapse Rate Static Stability & Environmental Lapse Rate
The age-adjusted rate of melanoma, a deadly form of skin cancer, from 1973 to 2000. Over that time p The age-adjusted rate of melanoma, a deadly form of skin cancer, from 1973 to 2000. Over that time p
Twenty percent of the automobiles inspected at a state inspection station required repairs to ... Twenty percent of the automobiles inspected at a state inspection station required repairs to ...
Video: Inflammatory response Animation

For a complete list of videos, visit our video library