Important Points for IC 26 - Life Insurance Finance Exam
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Direct expenses such as advertisement which are of one time in nature are amortised over a number of years.
Approved securities - Government securities and other securities charged on the revenues of the Central Government or Government of a State or guaranteed fully as regards principal and interest by Central Government or Government of any State;
Approved securities - Debentures or other securities for money issued under the authority of any Central Act or Act of a State Legislature by or on behalf of a Port Trust or Municipal Corporation or City Improvement Trust in any Presidency town;
Approved securities - Shares of a Corporation established by law and guaranteed fully by the Central Government or the Government of a State as to the repayment of the principal and the payment of the dividend;
Approved securities - Securities issued or guaranteed fully as regards principal and interest by the Government of any Part B State and specified as approved securities for the purposes of this Act by the Central Government by the notification in the official gazette; and
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