Answers for the Quest  "Staff Accounting Bulletin No. 122" in Certik (https://skynet.certik.com/quest/staff-accounting-bulletin-no-122?referralId=10768100638733563356)

1. What is the primary purpose of SAB 122?
- To rescind the guidance provided in SAB 121.

2. Which of the following was a requirement under SAB 121?
- Recording safeguarding obligations as liabilities at fair value

3. How does SAB 122 affect the accounting treatment of safeguarding obligations?
- It allows entities to use their own risk assessments.

4. What was a concern that led to the rescission of SAB 121?
- Increased balance sheet liabilities for institutions.