Question
In: Accounting
Which one of the following statement about surplus lines insurance taxation is true?
Which one of the following statement about surplus lines insurance taxation is true?
Select one:
a. Surplus lines insurance is taxed but admitted lines insurance is not taxed
b. Surplus lines insurance taxation is the same as admitted lines insurance taxation
c. Surplus lines insurance is subject to tax but the tax is assessed and collected differently than it is with admitted lines
d. No tax applies to surplus lines insurance but admitted lines insurance is taxed
Solutions
Expert Solution
c. Surplus lines insurance is subject to tax but the tax is assessed and collected differently than it is with admitted lines
ekkarill92 answered 2 years agoRelated Solutions
Which one of the following general statements about surplus lines insurance is true? Select one: a....
Which one of the
following general statements about surplus lines insurance
is true?
Select one:
a. State guaranty funds do not cover the policyholders of
surplus lines insurers
b. Surplus lines insurers are subject to state form and rate
filing regulations
c. All non-admitted insurers are surplus lines insurers
d. Admitted insurance companies must write insurance in the
surplus lines market
Before obtaining insurance in the surplus lines market for an insurance customer, surplus lines intermediaries must...
Before obtaining insurance in the surplus lines market for an
insurance customer, surplus lines intermediaries must do which one
of the following?
Select one:
a. Review the insurance application and determine that surplus
lines insurance is the best choice
b. Receive the recommendation of three customers that surplus
lines insurance is the best insurance available
c. Obtain regulatory approval
d. Conduct a diligent search for admitted lines insurance and
determine it is not available
Before obtaining insurance in the surplus lines market for an insurance customer, surplus lines intermediaries must...
Before obtaining
insurance in the surplus lines market for an insurance
customer, surplus lines intermediaries must do which one of the
following?
Select one:
a. Conduct a diligent search for admitted lines insurance and
determine it is not available
b. Obtain regulatory approval
c. Review the insurance application and determine that surplus
lines insurance is the best choice
d. Receive the recommendation of three customers that surplus
lines insurance is the best insurance available
Which of the following is a true statement regarding the taxation of compensation received in the...
Which of the following is a true statement regarding the
taxation of compensation received in the form of restricted
property A) an employee is not taxed on compensation received in
the form of restricted property B) an employee recognizes no income
until the property is either (1) no longer subject to a substantial
risk of forfeiture or (2) becomes transferable free of the
risk,whichever occurs earlier c) an employee who receives
restricted property may not elect to recognize income immediately...
Part 20. In a surplus lines insurance submission, the surplus lines insurer may agree to quote...
Part 20. In a surplus
lines insurance submission, the surplus lines insurer may agree
to quote the customer’s submission without a new inspection if
the customer submits which one of the following to the insurer?
Select one:
a. Annual report
b. Risk control report
c. Form 10-K
d. Financial statement
Question 1 Which of the following is true about disability insurance? Select one: a. Because the...
Question 1
Which of the following is true about disability insurance?
Select one:
a. Because the chance of becoming disabled is small, most people
do not purchase disability insurance coverage.
b. The probability of a 35 year becoming disabled for three
months or longer before age 65 is 20 percent.
c. Older people are less likely to become disabled than younger
people.
d. For people who become disabled longer than three months, the
average length of time is 2.9 years....
Which of the following is a true statement? Which of the following is a true statement?...
Which of the following is a true statement? Which of the
following is a true statement? a. The electric potential energy
depends on both the electric field and the amount of charge moving
through that field. b. The electric potential depends on both the
electric field and the amount of charge moving through that field.
c. The electric potential energy and the electric potential depend
on both the electric field and the amount of charge moving through
that field. d....
Which of the following is a true statement about virtual images?
Part A Which of the following is a true statement about virtual images?You cannot see a virtual image. A virtual image must be larger than the object A virtual image is formed at the position from which the rays appear to have originated A virtual image must be upside down Part B If an object is placed a great distance away from and in front of a converging lens such as the one shown in the video, where will its image be formed? It will be a...
Which of the following is not a true statement about a 403(b)?
Which of the following is not a true statement about a
403(b)?A 403(b) can only be established by a non-profit organization,
like a hospital or a school.A 403(b) only involves the employer making contributions.A 403(b) could be enabled for plan loans.A 403(b) is not available to independent contractors who work
for the non-profit organization.Which of the following statements correctly describes a
SEP plan?The plan can exclude employees who are aged 25 or younger.The allocation formula cannot be integrated with Social...
1. Which of the following is a TRUE statement regarding trend lines? A. Using closing prices,...
1. Which of the following is a TRUE statement regarding trend
lines?
A. Using closing prices, rather than intraday prices, increases
the chance of a false breakout from a trend line
B. The flatter a trend line is, the sooner it will be
broken.
C. The longer a trend line is in play, the less significant is a
break in the trend line.
D. The more times a trend line has been touched by prices, the
more significant is a...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Respond to the following in a minimum of 175 words: The flow of a program is...
- Write a version of the binary search algorithm that can be used to search a string...
- Using the following reduction potentials: I2(s) + 2e- <---> 2I-(aq) E0 = 0.535 V I2 (aq)...
- Why are learnability and critical thinking crucial skills for the 21stcentury? And, how can you improve...
- Hudson Corporation is considering three options for managing its data warehouse: continuing with its own staff,...
- LUVE produces bracelets. Each band generates $460 in revenue and requires one ounce of gold as...
- (The following data apply to the next three questions.) Assume the following cost and revenue data...
ADVERTISEMENT