Free SOFE AFE Practice Exam with Questions & Answers

Final approval should be obtained prior to placing a new system into operation is the activity that can be fall into which control?

If claims have been reported to the insurer after the contract period, it may several months for the insurer to investigate and establish a case reserve for reported claims.

Insurance entities usually write covered-call options because they consider the premium received for writing the options to be either:

The difference between the purchase price and the repurchase price, or sale price, plus accrued interest on the security represents:

The date on which the contract becomes effective is known as _.

Financial statements of a self-sustaining foreign operation are translated using the current rate method whereby assets and liabilities are translated in the reporting currency using the exchange rate.

Which of the following is NOT the primary consideration for defining the capital of a company for purposes of measuring capital adequacy?

Insurance entities establish

claims of the member companies.

An estimate due to time lags in the receipt of reports from cendants is called reinsurance.

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