LOMA 291 MODULE 4 ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

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LOMA 291 MODULE 4 ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS At a typical insurance company, which of the following areas are part of financial operations? Choose all that apply. a. Accounting and financial reporting b. Treasury operations c. Information technology d. Investment operations e. Internal audit - Answer -A, B, D, & E- All of these areas—except for information technology—are part of a typical insurance company's financial operations. Although the IT department plays an essential role in maintaining the quality of the data provided to financial managers, it is not technically part of financial operations. Board and Executive Roles The financial management function - Answer -Provides information to stakeholders Ensures that financial obligations are met Ensures compliance with complex financial regulations Generates adequate returns for the company's owners and customers Role of the Board of Directors - Answer -- Investment committee: The investment committee sets Forthright's investment policy and oversees investment operations. - Audit/risk committee: The audit/risk committee directs Forthright's audit and internal control function. The role of the Ceo - Answer -I approve our budget numbers. Then I manage our resources—in line with budget guidelines and all current laws and regulations. Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com Technically I'm responsible for directing financial objectives and strategies, but I delegate most of these responsibilities to senior financial officers. However, make no mistake, the buck stops here! We are a publicly held company. Investors, customers, and regulators can, and should, hold me responsible for our financial results. The role of the CFO - Answer -As CFO, I report to Grace Avon, our CEO. I work closely with company directors to develop corporate goals and strategies. I coordinate, monitor, and direct Forthright's financial activities. That covers a lot of territory. In the financial world, information quality and accuracy are critically important—I work closely with IT to make sure we get that right. That information has to be communicated to company managers and external parties. When we need to raise funds—that's also my job. Last, but not least, strong financial controls and measurement tools are absolutely essential. Financial Management Operating Units - Answer -Specific job titles and organizational structures vary according to a company's unique needs, but all insurers must perform certain core financial functions, as shown below. An organization chart. Under Financial Operations are Accounting and Financial Reporting, Treasury Operations, and Investment Operations. Separate is Internal Audit. An insurance company's investment committee directs the company's internal audit and control function. a. True b. False - Answer -A company's internal audit and control function is directed by the audit/risk committee. The investment committee sets the company's investment policy and oversees investment operations. Let's look at how Forthright Financial organizes its financial operations, starting with its accounting and financial reporting function. accounting Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com