SOFE Exam SOFA-CFE Topic 3 Question 69 Discussion

Actual exam question for SOFE's SOFA-CFE exam

Question #: 69
Topic #: 3

Which insurance arrangement, which involved insurance of a loss that had previously occurred, similarly was found not to be insurance for federal income tax purposes?

Aannual statement

Bretroactive

Creserved

DTax reserves

Show Suggested Answer

Suggested Answer: D

by Mariann at Apr 19, 2023, 08:24 AM

Limited Time Offer

25%

Off

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

Contribute your Thoughts:

Submit Cancel

Marica

1 days ago

I agree with Sherly, retroactive insurance involves covering losses that have already happened.

upvoted 0 times

...

Sherly

6 days ago

I think the answer is B) retroactive.

upvoted 0 times

...

Lynna

9 days ago

Whoa, retroactive insurance? That's like trying to insure your house after it's already burned down. Pretty sure that's not how it works, am I right?

upvoted 0 times

...