这题

问题如下：

Cioffi’s comments about the regulatory requirements for NANLife are best described as:

选项：

A.correct. B.incorrect with respect to accounting rules. C.incorrect with respect to capital adequacy requirements.

解释：

Solution

A is correct. Cioffi’s comments about the regulatory requirements for US-based insurance companies are all correct. The insurance industry does not have a set of global regulatory standards like Basel III, but capital standards do exist in various jurisdictions, including the United States. In the United States, the NAIC (National Association of Insurance Commissioners) has established minimum capital adequacy standards. Also in the United States, insurance companies prepare financial reports according to statutory accounting rules, which differ from US GAAP and IFRS.

B is incorrect. Cioffi’s comments with respect to accounting rules are correct. In the United States, insurance companies prepare financial reports according to statutory accounting rules, which differ from US GAAP and IFRS.

C is incorrect. Cioffi’s comments with respect to capital adequacy are correct. The insurance industry does not have a set of global regulatory standards as the banking industry has with its Basel III regulations, but capital standards do exist in various jurisdictions, including the United States. In the United States, the NAIC has established minimum capital adequacy standards.