SOFE SOFA-CFE Exam Questions Instant Access

Question 1

The date an insurer or its agent is informed of a claim is known as:

Aclaim date

Baccount date

Creport date

Dtestimony date

Answer : C

Question 2

15 percent of otherwise tax exempt interest income and the dividends received deduction are included in the company's income, in which factor?

AOffset property

BColonial act

CProration

Dreserved act

Answer : C

Question 3

Tax expense for interim periods is measured using an estimated ______________of the annual period.

AAnnual dividend rate

Bannual effective rate

CDeferred rate

DInterim report rate

Answer : B

Question 4

A mutual company may issue shares of guaranty capital that have a stated par value.

ATrue

BFalse

Answer : A

Question 5

An insurance company incurs ___________ as soon as an insured incident occurs.

Aloss credit

Bloss liability

Cremediation

Dreconcile asset

Answer : B

Question 6

What utilize company-provided financial data to review and approve rate filings and to gather industry statistics?

ABoards and bureaus

BBoards and risks

CBoards and investments

DActuaries and bureaus

Answer : A

Question 7

Which of the following is the loss characteristic?

Aknown vs. unknown

Breported vs. unreported

Cshort-tail vs. long-tail

DAll of the above

Answer : D

SOFE Certified Financial Examiner SOFA-CFE Exam Questions