8. In the life insurance industry, the largest asset category is and the largest liability category is A) Bonds, separate account items B) Separate account items, current policy claims C) Bonds, policy reserves D) Policy reserves, mortgage loans E) Common stock, dividend reserve 9. The most important legislation affecting the regulation of life insurance companies prior to 1999 was the A) McCarran-Ferguson Act B) McFadden Act C) Investment Company Act D) SEC Act E) Insurance Freedom Act