Question

Investments, other than bank balances, must be classified into one of three categories. Which of the...

Investments, other than bank balances, must be classified into one of three categories. Which of the following is NOT one of those categories?

A. Insured, registered in the name of the government or held by the government or its agent in the government’s name.

B. Uninsured and unregistered, with securities held by the other party’s trust department or agent in the government’s name.

C. Uninsured and unregistered in the government’s name and held by the other party or the other party’s agent.

D. Uncollateralized

Homework Answers

Answer #1

The Answer option here is 'D'

   The fair value (or amortized cost) of investments is  divided among three categories:

  • Category 1—investments that are insured or registered in the name of the government or securities that are held by the government itself or by its agent in the government’s name
  • Category 2—investments that are neither insured nor registered, with securities that are held by the trust department of the other party to the investment or by an agent in the government’s name
  • Category 3— investments that are neither insured nor registered, with securities that are held by the other party or its trust department or agent but not in the government’s name.
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