Internal Controls Questionnaire – Life.docVIP

Internal Controls Questionnaire – Life First, in preparation for the scheduled financial examination that will be performed by the Louisiana Department of Insurance, the following questionnaire needs to be filled out by qualified personnel and returned to the Louisiana Department of Insurance –Financial Solvency Divisions at the address below. The Financial Solvency division will use the questionnaire for exam planning purposes. Make note, failure to submit this questionnaire could potentially lengthen the time and cost of your examination. Louisiana Department of Insurance c/o Cindy Riviere, CFE – Examination Manager P.O. Box 94214 Baton Rouge, LA 70804 Second, on the next page, you will find the table of contents. This will help you to identify the areas and business cycles of the company that we will be reviewing in our examination. Lastly, here are the instructions and some clarity on how to fill out the questionnaire. Instructions: Under each question, the format is set up on a “yes” or “no” basis. If the Company’s answer to the question is “yes”, then mark the appropriate “yes” box including the employee responsible for performing such task. The “N/A” term by used for completion of questions that are not applicable. The blank line, before the question’s number, will be used for office/exam staff purposes only and nothing should appear on this line after we have received the questionnaire. Also, the letters in parenthesis (i.e. AC, AP, AU, and CO) are for examination staff purposes only. Table of Contents Premium Cycle Section: 3 Loss Cycle Section: 7 Reinsurance Cycle Section: 12 Investment Cycle Section: 16 ? General Investment 16 ? Bonds, Stocks, and Short-Term Investments 18 ? Securities Lending 20 ? Repurchase Agreements 22 ? Insurer Investment Pools 25 ? Cash on Hand and on Deposit 26 ? Derivative Transactions 26 ? Policy Loans and Premium Notes 28 ? Real Estate, Mortgage Loans and Collateral Loans 29 ? Investment Income Due and Accrued 30 ? S