SOFE SOFA-CFE Exam - Topic 1 Question 64 Discussion

Actual exam question for SOFE's SOFA-CFE exam

Question #: 64
Topic #: 1

[All SOFA-CFE Questions]

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

Aloss credit

Bloss liability

Cremediation

Dreconcile asset

Show Suggested Answer

Suggested Answer: B

by Elvera at Jan 07, 2023, 06:19 PM

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Tamekia

7 months ago

Yeah, loss liability makes the most sense here.

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Essie

7 months ago

Loss credit is not even a thing in this context!

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Lashandra

7 months ago

Wait, are you sure? I thought it was remediation.

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Leonard

7 months ago

I agree, that's the standard term used.

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Sheldon

7 months ago

It's definitely loss liability.

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Dottie

8 months ago

I thought we learned that the company has to account for losses right away, so "loss liability" seems like the best choice.

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Madelyn

8 months ago

I feel like "remediation" doesn't fit here, but I can't recall the exact definition of "loss liability."

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Effie

8 months ago

I remember discussing how losses are recognized immediately, so "loss credit" could be a possibility too.

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Elsa

8 months ago

I think it might be "loss liability," but I'm not entirely sure. We covered something similar in class.

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Lynelle

8 months ago

I'm feeling confident about this one. The Adjourning stage is when the team has completed its work and can move on, feeling good about what they've accomplished together.

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Jackie

8 months ago

This looks like a straightforward pharmacology question. I'll focus on the key details - dapsone gel, acne vulgaris, and G6PD deficiency. That should help me narrow down the potential side effects.

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Chauncey

8 months ago

I'm not entirely sure, but I feel like tying arrangements don't quite fit here. It seems more about collaboration against a common competitor.

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Annamae

1 year ago

If the answer was A) loss credit, the insurance company would be like, 'Sorry, you're out of credit. Gotta pay up or no coverage for you!'

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Jenelle

11 months ago

C) remediation

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Emeline

11 months ago

B) loss liability

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Lizette

12 months ago

A) loss credit

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France

1 year ago

If the correct answer was D) reconcile asset, the insurance company would be like, 'Oops, did we forget to balance the books? Quick, let's reconcile that asset!'

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Precious

1 year ago

I'm going to have to go with B) loss liability. Anything else would just be pulling an answer out of thin air.

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Leonora

11 months ago

Definitely, it's all about managing risk and ensuring the company can cover any losses.

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Sabra

12 months ago

Yeah, I think it's important to consider the financial impact of an insured incident.

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Lavonda

1 year ago

I agree, B) loss liability makes the most sense in this scenario.

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Von

1 year ago

A) loss credit? What is this, a credit card company? Definitely B) loss liability is the way to go.

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Judy

1 year ago

Hmm, C) remediation could work if it's related to the insurance company's actions after the incident, but I think B) loss liability is the best fit here.

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