American Bankers Association Exam CTFA Topic 5 Question 71 Discussion

Actual exam question for American Bankers Association's CTFA exam

Question #: 71
Topic #: 5

___________ reserves for income tax purposes are referred to as maximum tax actuarial reserves (MTAR) and replace the actuarial liabilities used for accounting purposes in computing taxable income.

AProcedure-related

BPolicy-related

CStandardized- related act

DNone of the above

Show Suggested Answer

Suggested Answer: B

by Tiera at Jul 17, 2024, 05:42 PM

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Gilberto

4 months ago

This question is a real tax-ercise, but I'm going with B) Policy-related. Gotta keep those reserves in check!

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Tawny

3 months ago

I think it's important to understand the different types of reserves for tax purposes.

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Derrick

3 months ago

I agree with you, B) Policy-related seems like the right choice here.

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Lenita

4 months ago

Ah, the age-old tax reserve question. B) Policy-related is the way to go, no doubt about it.

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Kattie

3 months ago

It's always good to stay informed about tax reserve regulations.

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Wade

4 months ago

I think it's important to understand the difference between MTAR and actuarial liabilities.

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Lindsay

4 months ago

I agree, B) Policy-related is definitely the correct choice.

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Xuan

4 months ago

I believe it's B) Policy-related as well, because it makes sense to have specific policies for income tax reserves.

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Simona

4 months ago

I'm not sure, but I think it might be C) Standardized-related act.

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Allene

4 months ago

I think the answer is B) Policy-related. It mentions 'income tax purposes' so it must be related to the policy.

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Farrah

3 months ago

I think it's either policy-related or procedure-related.

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Lajuana

3 months ago

I'm not sure, but it could also be procedure-related.

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Janae

4 months ago

I agree, it makes sense that it would be policy-related.

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Nichelle

4 months ago

I think the answer is B) Policy-related. It mentions 'income tax purposes' so it must be related to the policy.

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Tegan

4 months ago

I agree with Keshia, because MTAR is related to policies for income tax purposes.

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Kristine

5 months ago

Hmm, I'm not too sure about this one. Maybe it's D) None of the above?

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Jina

3 months ago

I'm leaning towards C) Standardized-related act.

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Providencia

3 months ago

I believe it's B) Policy-related.

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Shayne

3 months ago

I think it's A) Procedure-related.

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William

3 months ago

I'm leaning towards C) Standardized-related act.

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Sherell

4 months ago

I believe it's B) Policy-related.

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Linn

4 months ago

I think it's A) Procedure-related.

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Adelle

5 months ago

This question seems straightforward, the answer is clearly B) Policy-related.

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Roxane

4 months ago

I agree, it's important to understand the difference between MTAR and actuarial liabilities.

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Taryn

4 months ago

I think the answer is B) Policy-related.

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Keshia

5 months ago

I think the answer is B) Policy-related.

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