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SOFE Exam AFE Topic 3 Question 39 Discussion

Actual exam question for SOFE's AFE exam
Question #: 39
Topic #: 3
[All AFE Questions]

In which account current, for individual policies, the agent collects the premiums directly from the insureds, subtracts his or her commissions and remits the net premiums due to entity?

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Suggested Answer: B

by Rhea at May 05, 2022, 05:34 PM

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Delisa
1 months ago
Wait, hold on, 'Bushiness costs'? I didn't realize we were grading insurance policies on their ability to keep the bushes trimmed. Someone's got their priorities all mixed up here.
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Kaitlyn
9 days ago
D) Bushiness costs
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Johnetta
18 days ago
C) Item basis
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Tuyet
23 days ago
B) Paying commission basis
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Margurite
25 days ago
A) Billing basis
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Alex
2 months ago
Hold up, 'Bushiness costs'? Really? I think someone's trying to pull a fast one on us with that one. Nice try, but I'm gonna have to pass on that one.
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Kallie
4 days ago
A) Billing basis
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Scarlet
16 days ago
D) Bushiness costs
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Evelynn
19 days ago
C) Item basis
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Marjory
25 days ago
B) Paying commission basis
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Kenneth
1 months ago
A) Billing basis
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Steffanie
2 months ago
Nah, nah, 'Item basis' has gotta be the winner. I mean, how else would the agent keep track of all those individual policies and their corresponding premiums? This is clearly the way to go.
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Ivette
1 months ago
Yeah, I agree. It seems like the most organized option for handling individual policies.
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Matthew
1 months ago
I think 'Item basis' is the best choice too. It makes sense for keeping track of everything.
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Merlyn
2 months ago
I'm not sure, but I think it might be C) Item basis. Can someone explain why it's not that option?
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Alonso
2 months ago
I'm gonna go with 'Paying commission basis' on this one. It just makes sense that the agent would get their cut before sending the rest to the entity, you know?
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Kasandra
2 months ago
I agree with Dolores, because the agent collects the premiums and subtracts commissions before remitting the net premiums.
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Enola
2 months ago
Hmm, 'Billing basis' sounds like the right answer here. The agent collects the premiums directly from the insureds, and then remits the net premiums after deducting their commission. Seems like a pretty straightforward process.
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Truman
17 days ago
Definitely, 'Billing basis' ensures transparency in the premium collection process.
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Kristine
21 days ago
It's important for the agent to handle the premiums properly to ensure accurate payments.
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Mable
1 months ago
Yes, the agent collects the premiums and deducts their commission before remitting the net premiums.
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Royal
2 months ago
I think you're right, 'Billing basis' is the correct answer.
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Dolores
2 months ago
I think the answer is B) Paying commission basis.
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