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American Bankers Association Exam CTFA Topic 11 Question 6 Discussion

Actual exam question for American Bankers Association's Certified Trust and Financial Advisor exam
Question #: 6
Topic #: 11
[All Certified Trust and Financial Advisor Questions]

___________ reserves for income tax purposes are referred to as maximum tax actuarial reserves (MTAR) and replace the actuarial liabilities used for accounting purposes in computing taxable income.

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Suggested Answer: B

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