American Bankers Association Certified Trust and Financial Advisor Exam Practice Test

Monetary items and non-monetary items carried at market value are translated into the reporting currency at the rate of exchange in effect on the balance sheet date under:

What is made on an instrument-by-instrument basis, generally when an instrument is initially recognized in the financial statements?

Fair quoted techniques used to measure fair value should maximize the use of observable inputs and minimize the use of unobservable inputs.

What technique uses a risk-adjusted discount rate and contractual, promised, or most likely cash flows?

To avoid double counting or omitting the effects of risks factors what should reflect assumptions that are consistent with those inherent in the cash flows?

Insurance entities usually write covered-call options because they consider the premium received for writing the options to be either:

The options for securities that insurance entities own and can deliver if the options are exercised by the option buyers are called: