Tabitha has a client who purchases a life insurance contract and then asks her if it is okay to roll funds from another policy into this policy using a 1035 exchange. He also wishes to have some bank fund transfers sent to the insurance company and deposited into the cash value accumulation on this policy. This would best be identified as which of the following? A) Modified endowment contract B) Violation under TAMRA C) 7-pay test violation D) Layering

Answers

Answer 1

Answer:

This would best be identified as a Violation under TAMRA. Thus, option B is correct.

What is insurance?

A person may use insurance as a means of protection against potential financial losses or predicted losses. Additionally, you can get health, property, or auto insurance.

The purchaser of an income protection or annuities arrangement using a 1035 exchange may swap one product for the next without the transfer being treated as a chargeable sale thanks to swap laws.

The option to swap coverage of life insurance for such annuities is available, but the reverse is not true. When Tabitha had the error appears, the business will let the policyholders know and provide them the option to return the paid amount. this violates TAMRA.

Therefore, option B is the correct option.

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Answer 2

Answer: I think its B but I'm not sure

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Reference to the core and emerging markets and the need to market south Africa at an international level

Answers

The core and emerging market from south africa all involved in the mining sector, such as Gold and Diamond
Currently, south Africa is the major producer of Gold and Diamond in the world, contributing a lot to the country's GDP

hope this helps

Department is related to organization as employee is related to what

Answers

I would say that the answer to this question is most likely staff. Just as departments are subdivisions and part of a larger organization, employees are part of a larger staff or workforce.

A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 13,000 defective units that cost $5.40 per unit to manufacture. The units can be a) sold as is for $2.80 each, or b) reworked for $4.60 each and then sold for the full price of $8.20 each. What is the incremental income from selling the units as scrap and reworking and selling the units

Answers

Answer:

Incremental income for Sale as scrap is $36,400 and Rework is $46,200

Explanation:

Sale as scrap Rework

Sales of reworked units (13000*8.2) $106,000

Sales of scrap units (13000*2.8) $36,400

Cost to rework units (13000*4.6) ($59,800)

Opportunity cost of not making new units

Incremental income (loss) $36,400 $46,200

Cafe Italiano pays $70,000 for the trademark rights to a line of specialty sandwiches. After several years, sales for this line of specialty sandwiches are disappointing, and management estimates the total future cash flows from sales will be only $40,000. The estimated fair value of the trademark is now $20,000. What is the amount of the impairment loss

Answers

Answer:

the amount of the impairment loss is $50,000

Explanation:

The computation of the amount of the impairment loss is shown below:

Impairment loss = Purchase price of trade marks - Estimated fair value

= $70,000 - $20,000

= $50,000

Hence, the amount of the impairment loss is $50,000

The same should be considered and relevant

What describes this angoul of the sqware

Answers

If the word 'angoul' is supposed to be angle then the answer would be 90 degrees. A square has 4 sides that are all equal in length.

All of the following are true of custodial accounts, except: Group of answer choices custodial accounts represent a way parents can indefinitely control children. minors can set up custodial accounts with a parent. minors can set up custodial accounts with an older relative or friend. custodians can withdraw money from a custodial account for the benefit of the minor.

Answers

The incorrect statement related to the custodial accounts is " custodial accounts represent a way parents can indefinitely control children.

What are custodial accounts?

The custodial accounts can be defined as the accounts that are managed by a legal person or a guardian for the benefit of the beneficiary. The person who administer the account has an fiduciaryobligation towards the beneficiary.

The minors can set a custodial account with their parents or any of the elder relative or friend. The Guardian can withdraw money from the custodial account for the benefit of the beneficiary or minor.

Therefore the correct option is a.

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Answer:

custodial accounts represent a way parents can indefinitely control children

Explanation:

A custodial account is a financial account like the bank account, the trust fund or the brokerage account that could be set up for the beneficiary benefit and it is held by the responsible person who we called as the legal guardian

So as per the given situation, the above statement should be considered as it does not represent the way in which the parents could have the indefinite control with their children

Therefore the same is to be relevant

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