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SOFE SOFA-CFE Exam - Topic 3 Question 92 Discussion

The reserve for a reported claim that is established by an adjuster or a formula based on the company's loss experience is called:
A) loss reserve
B) case reserve
C) adjustment reserve
D) predefined reserve

SOFE SOFA-CFE Exam - Topic 3 Question 92 Discussion

Actual exam question for SOFE's SOFA-CFE exam
Question #: 92
Topic #: 3
[All SOFA-CFE Questions]

The reserve for a reported claim that is established by an adjuster or a formula based on the company's loss experience is called:

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Suggested Answer: A

by Elfrieda at Jul 09, 2024, 06:31 AM

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Charlie
7 months ago
Wow, I didn't know that!
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Alishia
7 months ago
Wait, are we sure it's not an adjustment reserve?
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Pamella
7 months ago
I thought it was a case reserve?
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Tegan
8 months ago
Totally agree, loss reserve is the right term!
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Dominque
8 months ago
It's definitely called a loss reserve.
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Iluminada
8 months ago
I vaguely recall something about adjustment reserves, but it seems less common. I think I’ll go with A, loss reserve.
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Emile
8 months ago
I’m really torn between A and B. I feel like both terms were used in similar questions we practiced.
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Mike
8 months ago
I remember discussing case reserves in class, but I feel like loss reserve is the more general term. Maybe it's A?
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Ciara
9 months ago
I think the answer might be A, loss reserve, but I'm not completely sure. It sounds familiar from our last practice session.
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Geoffrey
9 months ago
Ah, this is a good one. I'll make sure to review my notes on reserves before answering.
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Lottie
9 months ago
Okay, let me see. The question is asking about the reserve set by an adjuster or formula, so I think the answer is B - case reserve.
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Hyun
9 months ago
Hmm, I'm a little unsure about this one. I'll have to think it through carefully before answering.
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Cherry
9 months ago
This one seems pretty straightforward. I'm pretty confident the answer is B - case reserve.
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Darci
9 months ago
I remember learning about this in class. I believe the correct answer is B - case reserve.
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Chu
9 months ago
I think the key here is to choose options that will clearly and prominently display the high-profile customer information to the sales reps. The Custom Component and Component Visibility Filter seem like the best choices to achieve that goal.
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Lonna
9 months ago
Hmm, I'm a bit confused on the TRUNCATE behavior. Does that really delete all rows for just the current session, or for all sessions? I'll need to double-check the documentation to be sure.
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Carey
1 year ago
Haha, I bet the insurance company would love to have a 'predefined reserve' that they could just pull from whenever they needed it. But in all seriousness, I agree with Rachael - B) case reserve is the way to go here.
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Lauryn
1 year ago
D) predefined reserve is an interesting option, but I don't think it quite fits the description. I'm leaning towards B) case reserve.
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Kimi
1 year ago
I think C) adjustment reserve could be the correct answer based on the description.
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Julene
1 year ago
I'm not sure, but A) loss reserve could also be a possibility.
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Peggy
1 year ago
I agree, I think B) case reserve makes more sense in this context.
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Darrin
1 year ago
Hmm, I'm not so sure. A) loss reserve seems like it could also be a valid answer. I'll have to think about this one a bit more.
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Cassi
1 year ago
I'm not sure, but D) predefined reserve sounds plausible.
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Rodrigo
1 year ago
I'm leaning towards C) adjustment reserve.
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Susana
1 year ago
I believe it could also be B) case reserve.
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Alisha
1 year ago
I think A) loss reserve is the correct answer.
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Rachael
1 year ago
I think the correct answer is B) case reserve. That makes the most sense to me based on the description.
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Ashton
1 year ago
I'm not sure, but I think it could also be B) case reserve since it's for a reported claim.
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Louisa
1 year ago
I agree with Cordelia, loss reserve makes sense because it's based on the company's loss experience.
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Cordelia
1 year ago
I think the answer is A) loss reserve.
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