SOFE AFE Accredited Financial Examiner Exam Practice Test

To avoid double counting or omitting the effects of risks factors what should reflect assumptions that are consistent with those inherent in the cash flows?

The estimated liability includes the amount of money that will be used for future payments of:

For reinsurance assumed, the concepts analogous to attachment points and limits.

An entity's practices concerning loss settlement, such as a practice of vigorously defending suits or of quickly settling suits, can have a significant effect on an entity's loss experience.

A basic premise underlying the application of is that it is reasonable to assume that plausible relationships among data exist and continue in the absence of known conditions to the contrary.

The establishment of loss reserves generally requires considerable judgment and knowledge of the entity's business is known as:

Which of the following is NOT the way to make changes in variables that can be considered in the loss reserving process?