1:

Compare and contrast the financial statements of a bank and an insurance company. (To do this please download the financial statements of a bank and an insurance company. Please limit the comparison to the Income statement and the statement of financial position. Though it is preferred to use Omani businesses you may do the comparison using global businesses if you prefer.)

Question 2:

Which principle of insurance is highlighted in the following statement? Explain in brief?

1. The insurer is not liable for any uninsured causes/perils.  
2. Insured should not make any profit in any way or as a consequence of loss.

You should use relevant examples while explaining the principle

Question 3:   

Assess the loan loss provision requirements provided in CBO Circular BM 977 dated September 25, 2004.

Question 4

Explain the IFRS 9 ‘three-stage’ model (‘general model’) for impairment based on changes in credit quality since initial recognition.

Answer rating: 100% (QA)

1 Banks accept shortterm deposits and make longterm loans This means that there is a mismatch between their liabilities and their assets In case a large number of their depositors want their money bac... View the full answer