Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

SOFE Exam SOFA-CFE 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.

Show Suggested Answer Hide Answer
Suggested Answer: B

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

Limited Time Offer

25%

Off

Get Premium SOFA-CFE Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Annamae
2 months 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!'
upvoted 0 times
Jenelle
1 months ago
C) remediation
upvoted 0 times
...
Emeline
1 months ago
B) loss liability
upvoted 0 times
...
Lizette
1 months ago
A) loss credit
upvoted 0 times
...
...
France
2 months 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!'
upvoted 0 times
...
Precious
3 months ago
I'm going to have to go with B) loss liability. Anything else would just be pulling an answer out of thin air.
upvoted 0 times
Leonora
1 months ago
Definitely, it's all about managing risk and ensuring the company can cover any losses.
upvoted 0 times
...
Sabra
1 months ago
Yeah, I think it's important to consider the financial impact of an insured incident.
upvoted 0 times
...
Lavonda
2 months ago
I agree, B) loss liability makes the most sense in this scenario.
upvoted 0 times
...
...
Von
3 months ago
A) loss credit? What is this, a credit card company? Definitely B) loss liability is the way to go.
upvoted 0 times
...
Judy
3 months 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.
upvoted 0 times
Elizabeth
1 months ago
I'm leaning towards B) loss liability as well, it seems to align with the concept of incurring costs after an insured incident.
upvoted 0 times
...
Moon
2 months ago
I think C) remediation could also be a possibility depending on the specific situation.
upvoted 0 times
...
Jamal
2 months ago
I agree, B) loss liability makes the most sense in this context.
upvoted 0 times
...
...
Dorothy
3 months ago
D) reconcile asset? Really? I don't think that makes any sense in the context of insurance claims. Gotta go with B on this one.
upvoted 0 times
Tijuana
2 months ago
C) remediation
upvoted 0 times
...
Fletcher
2 months ago
B) loss liability
upvoted 0 times
...
Elin
2 months ago
A) loss credit
upvoted 0 times
...
Blondell
2 months ago
B) loss liability? Yeah, that sounds more relevant to insurance claims.
upvoted 0 times
...
Casie
2 months ago
C) remediation
upvoted 0 times
...
Antonette
3 months ago
B) loss liability
upvoted 0 times
...
Sherell
3 months ago
A) loss credit
upvoted 0 times
...
...
Janna
3 months ago
I'm pretty sure the correct answer is B) loss liability. Insurance companies have to set aside funds to cover claims as soon as an incident occurs.
upvoted 0 times
...
Karima
3 months ago
I think it could also be A) loss credit, as the company may have to adjust their financial statements.
upvoted 0 times
...
Glory
4 months ago
I agree with Franklyn, because the insurance company has to pay out for the insured incident.
upvoted 0 times
...
Franklyn
4 months ago
The answer is B) loss liability.
upvoted 0 times
...

Save Cancel