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SOFE SOFA-CFE Exam - Topic 9 Question 93 Discussion

Actual exam question for SOFE's SOFA-CFE exam
Question #: 93
Topic #: 9
[All SOFA-CFE Questions]

When gross premiums written are reduced by ceded reinsurance premiums in financial statements, the result is termed as:

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Suggested Answer: B

by Tyra at Jul 13, 2024, 11:20 PM

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Werner
6 months ago
Yeah, net analyzed premiums sounds made up!
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Lindsey
6 months ago
Ceded premiums is just the amount passed on, not the net.
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Salena
6 months ago
Wait, are we sure about that? I thought it was something else.
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Leota
7 months ago
Totally agree, A is the right answer.
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Aretha
7 months ago
It's definitely net premiums written!
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Sherrell
7 months ago
I’m a bit confused; I thought earn premiums written was a term used for something else. I hope I remember correctly!
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Dana
7 months ago
Ceded premiums sounds familiar too, but I don’t think that’s the right term for this situation.
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Lashunda
7 months ago
I feel like I’ve seen a similar question before, and I think it was definitely about net premiums written.
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Franchesca
8 months ago
I think the answer might be net premiums written, but I’m not completely sure. I remember something about it in class.
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Margurite
8 months ago
This is a good test of my understanding of insurance financial statements. I'm going to carefully read through the options and think through the definitions to select the right answer.
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Bulah
8 months ago
Okay, I think I know the answer to this. Gross premiums written are the total premiums an insurer receives, and ceded reinsurance premiums are the amounts the insurer pays to reinsurers. So the result of subtracting those is net premiums written, which is the correct answer.
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Leonora
8 months ago
Hmm, I'm a bit unsure about the difference between gross premiums written and ceded reinsurance premiums. I'll need to review my notes on insurance accounting to make sure I have that clear.
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Evelynn
8 months ago
This seems like a straightforward insurance accounting question. I'll focus on understanding the key terms and how they relate to the financial statement presentation.
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Veronika
8 months ago
I'm pretty confident about this one. I think the answer is D - an IES does not require a spoke SDP.
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Tiara
8 months ago
Okay, I've got this. The stage with the most product variations is the maturity stage, when the industry is well-established and companies are competing by offering different product options.
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Lashonda
8 months ago
Ah, I know this one! Booting into Safe Mode with the roommate's account should let me change the password from there. I'm confident that's the right solution.
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Francoise
1 year ago
I'm going with A. Net premiums written. It just makes the most sense, you know? Unless the insurance gods are playing some kind of cruel joke on us.
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Dominga
12 months ago
User 3: Definitely A) net premiums written. It's the net amount retained by the insurer.
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Kanisha
12 months ago
User 2: Yeah, I think so too. It's the amount left after ceding reinsurance.
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Renay
1 year ago
User 1: I agree, A) net premiums written seems like the logical choice.
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William
1 year ago
Earn premiums written? That's a new one. Is the exam question trying to trick us or something?
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Narcisa
1 year ago
B) ceded premiums
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Leah
1 year ago
No, it's not trying to trick us. Earn premiums written is just another way of saying net premiums written.
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Irving
1 year ago
A) net premiums written
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Francesco
1 year ago
Hmm, I think it's C. Net analyzed premiums. Sounds like something an insurance accountant would say, you know?
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Latrice
1 year ago
Wait, isn't ceded premiums the correct answer? That's when you transfer part of the risk to a reinsurer, right?
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Kimi
1 year ago
I'm pretty sure it's option A. Reducing gross premiums by ceded reinsurance gives you net premiums written. Easy peasy!
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Ozell
1 year ago
Got it, thanks for the clarification!
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Leila
1 year ago
So, net premiums written is the term used when gross premiums are reduced by ceded reinsurance premiums.
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Nana
1 year ago
Yeah, that's correct. Net premiums written is the result.
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Karl
1 year ago
I think you're right, it's definitely option A.
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Cristy
1 year ago
I agree with Rocco, A) net premiums written is the correct term in this case.
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Rocco
1 year ago
I think it's A) net premiums written because it makes sense to subtract ceded reinsurance premiums from gross premiums.
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Mila
1 year ago
A) net premiums written
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