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- IFRS 4 – Insurance Contracts 0%
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Question 1 of 10
1. Question
Which of the following estimates shall be considered during the application of the liability adequacy test?
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Question 2 of 10
2. Question
If a cedant’s reinsurance asset is impaired, the cedant shall reduce its carrying amount accordingly and recognise that impairment loss in profit or loss.
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Question 3 of 10
3. Question
Under which of the following circumstances is a reinsurance asset impaired?
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Question 4 of 10
4. Question
Under which conditions does IFRS 4 allow an insurer to change its accounting policies for insurance contracts?
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Question 5 of 10
5. Question
An insurer is required to change its accounting policies so that it remeasures designated insurance liabilities to reflect current market interest rates and recognises changes in those liabilities in profit or loss.
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Question 6 of 10
6. Question
An insurer __________ change its accounting policies for insurance contracts to eliminate excessive prudence.
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Question 7 of 10
7. Question
According to IFRS 4, which of the following is used in some measurement approaches in order to determine the present value of a future profit margin?
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Question 8 of 10
8. Question
Which of the following information shall an insurer disclose in order to enable users of its financial statements to evaluate the nature and extent of risks arising from insurance contracts?
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Question 9 of 10
9. Question
Which of the following definitions agrees with the term ‘cedant’?
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Question 10 of 10
10. Question
Which of the following terms agrees with this definition: ‘A contract that requires the issuer to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payment when due in accordance with the original or modified terms of a debt instrument’?
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