SOFE Exam AFE Topic 3 Question 79 Discussion

Actual exam question for SOFE's AFE exam

Question #: 79
Topic #: 3

[All AFE Questions]

In , an adjustment is based on experience of an individual risk during the term of the policy and is generally subject to maximum and minimum premium limits specified in the policy.

ABusiness recordkeeping

BRetrospective premium adjustments

CPremium transaction flow

DAdjusting premiums

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Suggested Answer: A

by Ruthann at Jul 04, 2024, 05:44 AM

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Naomi

2 months ago

Retrospective premium adjustments, huh? Sounds like the insurance company's way of saying, 'We're going to charge you more next year to make up for the discounts we gave you this year.' Gotta love the insurance game, am I right?

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Annette

2 months ago

Ooh, this is a tricky one. I'm gonna go with retrospective premium adjustments, but I have a feeling the exam gods are trying to trick me. Maybe I should just roll a dice and hope for the best.

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Telma

18 days ago

Let's just hope for the best and go with retrospective premium adjustments.

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Jettie

22 days ago

I'm leaning towards business recordkeeping.

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Andrew

30 days ago

I'm not so sure, maybe it's adjusting premiums.

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Jonell

1 months ago

I think it's retrospective premium adjustments too.

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Melissa

2 months ago

Adjusting premiums, that's my pick. I mean, it's right there in the question, 'an adjustment is based on experience.' Easy peasy, let's move on to the next question!

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Malinda

19 days ago

Business recordkeeping is important for keeping track of all the premium transactions.

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Douglass

20 days ago

I think retrospective premium adjustments might also play a role here.

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Norah

27 days ago

I agree, adjusting premiums is the way to go.

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Maia

1 months ago

Business recordkeeping is crucial for accurate premium adjustments.

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Silva

1 months ago

I think retrospective premium adjustments might also be important to consider.

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Mary

2 months ago

I agree, adjusting premiums is the way to go.

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Lauran

3 months ago

Hmm, I'm going to have to go with option B. Retrospective premium adjustments sound like the way to go. It's gotta be the one with 'premium' in the name, right? I'm feeling confident about this one.

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Rashida

1 months ago

Yeah, option B definitely stands out as the best choice. It's all about looking back at past performance to make adjustments.

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Leah

1 months ago

I think you're right. Retrospective premium adjustments make sense when it comes to individual risk and policy limits.

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Jerry

2 months ago

I agree, option B does seem like the most logical choice. It's all about adjusting premiums based on past experience.

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Leandro

3 months ago

Retrospective premium adjustments, that's the one! I remember learning about that in my risk management class. It's all about adjusting premiums based on the actual experience during the policy term. Nailed it!

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