SOFE Exam SOFA-CFE Topic 6 Question 110 Discussion

Actual exam question for SOFE's SOFA-CFE exam

Question #: 110
Topic #: 6

The claims that have occurred prior to the company's balance sheet date, were not reported, and therefore are not recorded by the company are known as:

AUnknown losses

BUnclaimed losses

CUnrecorded losses

DLong-tail losses

Show Suggested Answer

Suggested Answer: A

by Susana at Apr 07, 2025, 01:58 AM

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Sylvia

15 days ago

Haha, this is a classic accounting question. I bet the auditors were scratching their heads on this one. What do you think, did the company 'lose' the losses? (Wink, wink)

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Kristin

18 days ago

A) Unknown losses seems like the most logical choice. If the company didn't know about them, how could they have recorded them? Unrecorded is just a fancy way of saying unknown, if you ask me.

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Raul

1 months ago

B) Unclaimed losses is my pick. Maybe the company just forgot to claim them or something. Got to keep an eye on those unclaimed losses!

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Ruth

18 days ago

C) Unrecorded losses

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Sena

20 days ago

B) Unclaimed losses is my pick. Maybe the company just forgot to claim them or something. Got to keep an eye on those unclaimed losses!

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Elke

26 days ago

A) Unknown losses

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Ligia

1 months ago

I'm not sure, but D) Long-tail losses also sound plausible to me. It could be losses that take a long time to materialize.

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Laurena

1 months ago

D) Long-tail losses sounds like the right answer to me. These types of losses can often go unnoticed for a long time.

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Valentine

23 hours ago

A) Unknown losses

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Kris

2 months ago

I agree with Mariko, unrecorded losses make sense because they were not reported before the balance sheet date.

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Bettina

2 months ago

I think the correct answer is C) Unrecorded losses. The question clearly states that the claims were not reported, so they would not be recorded by the company.

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Yaeko

26 days ago

Yes, unrecorded losses make sense in this scenario.

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Tatum

1 months ago

I agree, the correct answer is C) Unrecorded losses.

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Mariko

2 months ago

I think the answer is C) Unrecorded losses.

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