American Bankers Association Exam CTFA Topic 4 Question 55 Discussion

Actual exam question for American Bankers Association's CTFA exam

Question #: 55
Topic #: 4

[All CTFA Questions]

What must be properly coded to meet the statutory reporting requirements of the annual statement and to provide statistics to support filling?

AClaims data

BInsurance act

CRisk estimation

DClaim settlement

Show Suggested Answer

Suggested Answer: B

by Sherita at Nov 21, 2023, 09:45 PM

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Judy

16 days ago

I wonder if the exam writers are trying to trip us up with the 'filling' part. Maybe they're testing our ability to read between the lines and figure out the real purpose of the data collection.

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Edna

21 days ago

You know, I bet the insurance adjusters would have a field day with this question. They probably see all kinds of 'creative' attempts at coding the claims data.

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Karan

1 months ago

Claim settlement? Really? That's just the end result, not the actual data we need to collect and report on. Gotta be claims data, no doubt.

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Chandra

2 days ago

Insurance act is important, but without claims data, we can't provide the necessary statistics for filling.

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Misty

8 days ago

Risk estimation is important too, but claims data is definitely a must for reporting.

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Jina

9 days ago

Yeah, claim settlement is just the outcome, we need the actual claims data for reporting.

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Aja

16 days ago

I agree, claims data is essential for meeting statutory reporting requirements.

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Frank

2 months ago

I don't know, you guys. I'm thinking it might be risk estimation. That seems like a key piece of the puzzle when it comes to reporting and filling.

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Howard

2 months ago

Hmm, I'm not so sure. The insurance act might be important too, since that's the legal framework we need to follow, right?

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Huey

D) Claim settlement

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Louisa

1 days ago

C) Risk estimation

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Lewis

2 days ago

B) Insurance act

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Xuan

3 days ago

A) Claims data

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Samira

4 days ago

I think claims data is also important for providing statistics to support filing.

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Jeanice

7 days ago

Yes, you're right. The insurance act is crucial for meeting statutory reporting requirements.

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Willodean

8 days ago

D) Claim settlement

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Shayne

9 days ago

C) Risk estimation

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Nobuko

10 days ago

B) Insurance act

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Afton

1 months ago

A) Claims data

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Lettie

2 months ago

I believe risk estimation is also important for providing statistics.

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Joesph

2 months ago

I agree with Dolores, claims data is essential for statutory reporting.

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Domonique

2 months ago

Claims data is the obvious answer here. How else are we supposed to provide the necessary statistics for the annual statement?

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Holley

2 days ago

Claim settlement is important too, but claims data is what really drives the reporting requirements.

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Garry

3 days ago

I agree, claims data is crucial for supporting the filling process and ensuring compliance with regulations.

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Nathan

5 days ago

Without accurate claims data, it would be impossible to provide the necessary statistics for the annual statement.

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Zoila

20 days ago

Claims data is definitely the key to meeting statutory reporting requirements.

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Dolores

2 months ago

I think claims data must be properly coded.

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