Insurance

Insurance

Professional Development

10 Qs

quiz-placeholder

Similar activities

Getting to know the Philippines!

Getting to know the Philippines!

3rd Grade - Professional Development

15 Qs

Engagements DD

Engagements DD

Professional Development

10 Qs

Matematik Tahun 4 - Nilai Tempat & Nilai Digit

Matematik Tahun 4 - Nilai Tempat & Nilai Digit

KG - Professional Development

10 Qs

Tyre Safety Knowledge Quiz

Tyre Safety Knowledge Quiz

Professional Development

10 Qs

OSH - Module 1

OSH - Module 1

Professional Development

11 Qs

EVALUACIÒN Y7 2018

EVALUACIÒN Y7 2018

Professional Development

10 Qs

Territorio y memoria: La dictadura argentina

Territorio y memoria: La dictadura argentina

Professional Development

15 Qs

One Time Cleansing - Exercise 1

One Time Cleansing - Exercise 1

Professional Development

15 Qs

Insurance

Insurance

Assessment

Quiz

Other

Professional Development

Hard

Created by

Glenizze Nicole Camarce

Used 4+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Management Fees earned by Life and Non-life Insurance Companies are subject to 2% PT and VAT, respectively.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

S1: Investment expenses relating to investment income that has been subjected to final tax should not form part of direct cost; neither are they deductible in determining the net taxable income.

S2: Investment expenses relating to investment income that has not been subjected to final tax are allowed as deduction as part of the direct costs.

S1 is True, S2 is False

S1 is False, S2 is True

Both statements are True

Both statements are False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Every person, company doing non-life insurance business of any sort in the Philippines, except purely cooperative companies or associations, is subject to the 2% Premium Tax (PT).

FALSE

TRUE

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Investment income earned by the life insurance company from the investment activities using the fund, in the addition to the Income tax, is subject to ____

12% VAT

2% PT

RCIT

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An Insurance Company make the following entries upon the Actual disbursement of policyholder/beneficiary:

DR Losses and Claims Expense

CR Losses and Claims Payable

DR Losses and Claims Expense

CR Cash

DR Losses and Claims Payable

CR Losses and Claims Expense

DR Cash

CR Losses and Claims Expense

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Investment Income of Life Companies from Invested Insurance Premium is subject to

Depending on the nature of Income

2% PT

12% VAT

Exempt

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The following are direct costs except:

Commission on direct writings

Inspection and Medical Fees

Reinsurance Ceded

Renewal Fees

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?