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SOFE SOFA-CFE Exam - Topic 6 Question 91 Discussion

The premium which is earned over the contract period in relation to the expiration of risk is known as:
B) annual premium
A) monthly premium
C) single premium
D) None of the above

SOFE SOFA-CFE Exam - Topic 6 Question 91 Discussion

Actual exam question for SOFE's SOFA-CFE exam
Question #: 91
Topic #: 6
[All SOFA-CFE Questions]

The premium which is earned over the contract period in relation to the expiration of risk is known as:

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Suggested Answer: B

by Frederick at Jul 05, 2024, 03:40 AM

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Nan
7 months ago
I’m not sure about this, sounds confusing!
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Ilda
8 months ago
Wait, is it really not "None of the above"?
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Elli
8 months ago
Single premium seems off for this one.
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Jerlene
8 months ago
I thought it was the monthly premium, but I guess not!
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Harrison
8 months ago
It's definitely the annual premium.
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Laurene
9 months ago
I'm leaning towards "None of the above," but I can't recall the exact definition we studied.
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Garry
9 months ago
This question feels familiar; I think I practiced something similar where we discussed how premiums are recognized over time.
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Jerry
9 months ago
I remember something about monthly premiums being paid regularly, but I don't think that's what they're asking for here.
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Germaine
9 months ago
I think the answer might be annual premium since it covers the whole year, but I'm not completely sure.
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Tomoko
9 months ago
Okay, I've got this! The premium earned over the contract period is clearly referring to the "earned premium," which is the portion of the premium that corresponds to the expired risk. I'll go with option C, "single premium."
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Marjory
9 months ago
Hmm, I'm a bit unsure about this one. The wording is a bit technical, so I'll need to read through the options carefully to see if I can spot the key difference between them.
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Paulina
9 months ago
This seems like a straightforward insurance-related question. I'll need to think carefully about the relationship between the premium and the contract period to determine the correct answer.
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Jerilyn
9 months ago
I'm a little confused by the phrasing of this question. The options don't seem to be directly addressing the concept of "expiration of risk." I'll need to think this through step-by-step to make sure I understand what they're asking.
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Aleisha
9 months ago
I'm not sure about this one. I'll need to think it through carefully and maybe even sketch out a diagram to visualize the different approaches before making a decision.
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Chantell
1 year ago
As an insurance agent, I can tell you that the correct answer is definitely not A) monthly premium. That's just way too short of a time period.
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Oliva
1 year ago
I'm going to guess C) single premium. It's the only one that mentions 'over the contract period', so it must be the right answer.
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Stevie
1 year ago
I agree, C) single premium seems to be the most fitting choice based on the description.
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Miriam
1 year ago
I believe it's C) single premium because it mentions the contract period.
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Ellen
1 year ago
I'm not sure, but I'll go with C) single premium as well.
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Stacey
1 year ago
I think it's C) single premium too. It makes sense with the context.
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Selma
1 year ago
This is a tough one, but I'm going to go with D) None of the above. The question is a bit too vague for any of the options to be completely accurate.
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Lashunda
1 year ago
I'm going with B) annual premium. That makes the most sense to me since the premium is earned over the contract period.
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Santos
1 year ago
I'm not sure, but I think D) None of the above could also be a possibility.
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Jolanda
1 year ago
I agree with A) monthly premium because it is earned over a shorter period of time.
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Nettie
1 year ago
I'm not sure about this one, but I'll go with A) monthly premium just to mix it up.
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Beata
1 year ago
I think C) single premium is the correct answer.
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Mignon
1 year ago
I think C) single premium might also be a possibility, but I see why you chose B) annual premium.
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Brett
1 year ago
I agree with you, B) annual premium seems like the correct choice.
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Crista
1 year ago
I'm pretty sure it's D) None of the above. The question is asking about the premium earned over the contract period, not the premium paid.
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Howard
1 year ago
B) annual premium
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Lynsey
1 year ago
A) monthly premium
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Clare
1 year ago
That makes sense. I agree with you, Franchesca.
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Franchesca
1 year ago
I think it's C) single premium because it's paid all at once.
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Fabiola
1 year ago
Hmm, this one's tricky. I think it might be C) single premium, since that's the premium paid upfront for the entire contract period.
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Tarra
1 year ago
Yeah, D) None of the above doesn't seem like the right answer in this case.
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Jamie
1 year ago
I don't think it's B) annual premium, that's just paid once a year.
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Muriel
1 year ago
I'm not sure, but I think A) monthly premium could also be a possibility.
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Angelica
1 year ago
I think you're right, C) single premium makes sense because it's paid all at once.
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Clare
1 year ago
What is the premium earned over the contract period called?
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Sang
1 year ago
I'm not sure, but I think it could also be A) monthly premium since it's earned periodically.
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Cherri
1 year ago
I agree with Tasia. Single premium makes sense because it's earned over the contract period.
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Tasia
1 year ago
I think the answer is C) single premium.
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