where to pull Non-federal TLF

zachboazzachboaz
in Odomirok.8-9-IS

On the wiki, the (non-federal TLF) is subtracted from Investment Income. In problem 16 of the Full BattleQuiz it shows Investment Income = (Investment Revenue) - (Investment Expenses).

Also, a side-note, isn't TLF typically included as (other U/W expense) which would get stripped out of U/W Income?

Comments

  • Staff - ACStaff - AC

    What is on the Income Statement is net investment income, which is as per the formula in the wiki. But problem 16 asks for investment income (not net), so non-federal TLF is not included in the answer.

    The non-federal TLF referred to here is investment-specific, not premium TLF.

  • aggarw16aggarw16

    Can you please point to an example where the non-federal TLF is given ?

  • grahamgraham

    I'm not sure there are any text examples or examples of past exam questions where a distinction is made between federal and non-federal TLFs. Since insurance companies are regulated at the state level they often have to pay state taxes, licensing fees, and other regulatory charges that are specific to the states in which they operate. So these TLFs are generally state not federal to begin with. Federal income taxes are a separate thing.

  • jeancui74jeancui74

    so what is the full name of the TLF, I sadly cannot find it...

  • jono1234jono1234
    edited October 2024

    taxes, licenses, and fees^
    You can sort of find it in the IEE article.

    Side note - this is definitely subjective, but I'm not sure about the helpfulness of the comments in that article talking about how boring the material is. I think it's possible to throw someone off their groove and get someone to think "man, this really is boring" and make it harder to get through the material. It's even possible that someone might not really find it boring until someone else says it. Just pointing out another perspective.

  • grahamgraham

    That's a good point about removing the reference to the material being "boring". (It was late at night when I wrote that and so there was no filter on my thoughts.)

    I suppose anything can be interesting if you find the right way to look at it. :) I did change the wording:

    Thanks for your comment, @jono1234.

  • jono1234jono1234

    Definitely understand losing the filter late at night, haha; I've probably even done that on this forum. Thank you, Graham!

  • grahamgraham

    You're welcome. Slay the beast this week! (Or next week, depending on your exam date!)

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