The Largest Asset Category on the Balance Sheet of U

question 63

Multiple Choice

The largest asset category on the balance sheet of U.S.life insurance companies as of 2015 was

• A)government securities.
• B)corporate bonds.
• C)corporate stock.
• D)cash.
• E)mortgages.

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Definitions:

Personal Property

Assets or belongings that are not permanently attached to or part of real estate; includes both tangible items like cars and furniture, and intangible items like stocks and bonds.

Municipal Bonds

Bonds issued by local municipalities to finance public projects such as schools and highways; interest income is often exempt from federal income taxes.

Investment Interest Expense

The cost of interest on money borrowed to purchase taxable investments, which can sometimes be deducted from income for tax purposes.

Job Hunting

The process of actively seeking new employment, including activities such as applying for jobs, networking, and interviewing.