User Account

All Pages

What major regulatory obstacle does financial services face

Assignment Help Accounting Basics
Reference no: EM133101066

Question - The financial Service Company is a large life insurer that sells annuity products to retired people. Company actuaries have designed a new annuity contract that combines lifetime annuity benefits with long-term care in a skilled nursing home. Financial Services wants to market the new annuity nationally in all 50 states. The company faces competition from a national commercial bank that is trying to sell a similar product to Social Security beneficiaries. The CEO of Financial Services believes that the new annuity product could be marketed more efficiently if the company had a federal charter. Several members of the board of directors, however, believe that a federal charter would be undesirable.

(a) What major regulatory obstacle does Financial Services face in trying to market the new annuity product in each state under the present system of state regulation?

(b) Assume that Financial Services has the option of obtaining a federal charter. Explain the advantage, if any, of a federal charter to Financial Services in their efforts to market the new annuity product.

(c) Explain the major arguments against federal charters.

Reference no: EM133101066

Questions Cloud

Challenges faced by small and medium enterprise : Prepare paper on challenges faced by small and medium enterprise
Indicate the pension-related amounts : Indicate the pension-related amounts that would be reported on the income statement and the balance sheet for Ivanhoe Company for the year 2020
Messaging or representation in global content : Star Wars, Downton Abbey and That Certain Summer are all artifacts/expressions in popular culture. explain how they might affect social issues messaging
Major agents of socialization : Sociology: Choose three of the major agents of socialization (family, school, church/religion, peer, workplace, mass media, etc.) And explain how the major agen
What major regulatory obstacle does financial services face : What major regulatory obstacle does Financial Services face in trying to market the new annuity product in each state under the present system
What you motivates you as an employee : What are some different ways that managers can motivate their employees? And what you motivates you as an employee?
What the net profit and cash flow from this sale for year : Although the firm paid in full for merchandise during the year it only collected 10,000 at year end. What the net profit and cash flow from this sale for year
What is the company debt ratio : National Co. had P24,000,000 in sales last year. The company is financed entirely with debt and common equity. What is the company's debt ratio
Communication relate to particular communication genre : How does the purpose of the communication relate to the particular communication genre? Is the communication intended for external or internal distribution?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss the fraud triangle and the auditor responsibilities

Discuss the fraud triangle and the auditor's responsibilities relating to fraud in an audit of a financial report

  What are mixed costs

What are mixed costs? What are some examples? Discuss relevant range in more detail. What is this? How is it used? What is the high-low method? How is is used?

  What amount must be remitted to state for octobers sales tax

Total receipts for October amounted to $29,400. If the sales tax rate is 5%, what amount must be remitted to the state for October's sales taxes?

  Quayle company has been sued by customer who claims injury

quayle company has been sued by a customer who claims injury from use of quayles product. the companys lawyers and a

  The publication of the magazine every month

Both events, by recognizing a portion of the revenue with cash sale of the magazine subscription and a portion of the revenue with the publication of the magazine every month.

  Record the transactions which occurred consecutively

Record the following transactions which occurred consecutively. A total cash dividend of $75,000 was declared and payable to stockholders of record

  Determining return on total assets

Braverman Company's net income last year was $75,000 and its interest expense was $10,000. Total assets at the beginning of the year were $650,000 and total assets at the end of the year were $610,000. The company's income tax rate was 30%. The co..

  Discuss the accounting treatment in relation to provisions

Discuss the accounting treatment in relation to provisions, contingent liabilities and contingent assets required by PAS 37

  What are your costs for january and february

You're a used car dealer. On January 1st, you bought 10 used cars for $5,000 each. What are your costs for January and February

  What is the budgeted manufacturing overhead rate

What is the budgeted manufacturing overhead rate in the machining department? In the finishing department?

  What is Arianna gain basis

Arianna's personal residence has an adjusted basis of $230,000 and a fair market value of $210,000. What is Arianna gain basis

  What is nolan return on assets

Nolan manufactures, markets, and sells cellular telephones. The average total assets for Nolan is $250,000. In its most recent year.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd