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SOFE SOFA-CFE Exam - Topic 5 Question 87 Discussion

What is an agreement that releases the reinsurer of all its obligations under the original reinsurance agreement for a negotiated consideration as a final settlement?
A) Statutory Act
B) Accounting practices
C) commutation
D) None of the above

SOFE SOFA-CFE Exam - Topic 5 Question 87 Discussion

Actual exam question for SOFE's SOFA-CFE exam
Question #: 87
Topic #: 5
[All SOFA-CFE Questions]

What is an agreement that releases the reinsurer of all its obligations under the original reinsurance agreement for a negotiated consideration as a final settlement?

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Suggested Answer: A

by Desmond at May 12, 2024, 05:53 PM

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Long
7 months ago
None of the above seems off; commutation is the clear answer!
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Jerlene
8 months ago
Totally agree, commutation is the right term here.
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Cecil
8 months ago
Commutation makes sense, but is it really that straightforward?
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Kerry
8 months ago
I thought it was statutory act, but I guess not.
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Graciela
8 months ago
It's definitely commutation!
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Ricki
9 months ago
I definitely recall that commutation involves a final settlement, so I’m leaning towards option C as the correct answer.
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Geraldo
9 months ago
I’m a bit confused; I thought commutation was just a type of agreement, not specifically for releasing obligations.
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Mickie
9 months ago
I remember discussing something similar in class, and I believe commutation is the term used for settling reinsurance obligations.
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William
9 months ago
I think the answer might be commutation, but I'm not entirely sure. It sounds familiar from our practice questions.
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Kattie
9 months ago
I'm a bit stumped on this one. The terminology around reinsurance is not my strongest area. I'll have to make an educated guess and move on.
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Laquita
9 months ago
Commutation, that's the one that releases the reinsurer from all obligations, right? I'm pretty sure that's the answer, but I'll double-check the options just to be sure.
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Justine
9 months ago
Okay, let me break this down step-by-step. The key is understanding what a "commutation" is in the context of reinsurance. I think I can work this out.
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Rebecka
9 months ago
This question seems pretty straightforward. I'm pretty confident the answer is C - commutation.
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Juliann
9 months ago
Hmm, I'm not too sure about this one. The wording is a bit confusing. I'll have to think it through carefully.
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Alline
9 months ago
This looks straightforward, I'll just need to identify the 3 required fields from the options provided.
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Lynsey
9 months ago
I remember practicing something similar, and I think Direct Connect was more about establishing physical connections, not managing routers directly.
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Sharika
10 months ago
Option C sounds reasonable, but I'm not confident if asking for the email back is the best move.
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Lilli
1 year ago
None of the above? Well, that's certainly a safe bet when you have no idea what the right answer is.
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Otis
1 year ago
Statutory Act? I thought this was about reinsurance, not government legislation.
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William
1 year ago
Statutory Act? I thought this was about reinsurance, not government legislation.
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Rolland
1 year ago
C) commutation
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Dyan
1 year ago
A) Statutory Act
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Stephaine
1 year ago
Accounting practices? Really? This is an insurance question, not a math quiz.
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Janna
1 year ago
C) commutation
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Domonique
1 year ago
B) Accounting practices
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Tiffiny
1 year ago
A) Statutory Act
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Maurine
1 year ago
Commutation? Sounds like some kind of wizard spell to get out of a contract. I'll go with that one!
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Cherilyn
1 year ago
User 3: Commutation is the correct answer, it releases the reinsurer of all obligations.
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Claudia
1 year ago
User 2: I agree, I think it's the right answer.
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Buffy
1 year ago
User 1: Commutation sounds like a wizard spell to get out of a contract.
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Eden
1 year ago
I'm not sure, but I think it's C) commutation too.
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Chantay
1 year ago
I agree with Luis, commutation makes sense as the final settlement.
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Luis
1 year ago
I think the answer is C) commutation.
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