SOFE Exam SOFA-CFE Topic 1 Question 64 Discussion

Actual exam question for SOFE's SOFA-CFE exam

Question #: 64
Topic #: 1

[All SOFA-CFE Questions]

An insurance company incurs ___________ as soon as an insured incident occurs.

Aloss credit

Bloss liability

Cremediation

Dreconcile asset

Show Suggested Answer

Suggested Answer: B

by Elvera at Jan 07, 2023, 06:19 PM

Limited Time Offer

25%

Off

Get Premium SOFA-CFE Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Annamae

1 months ago

If the answer was A) loss credit, the insurance company would be like, 'Sorry, you're out of credit. Gotta pay up or no coverage for you!'

upvoted 0 times

Jenelle

2 days ago

C) remediation

upvoted 0 times

...

Emeline

6 days ago

B) loss liability

upvoted 0 times

...

Lizette

8 days ago

A) loss credit

upvoted 0 times

...

France

1 months ago

If the correct answer was D) reconcile asset, the insurance company would be like, 'Oops, did we forget to balance the books? Quick, let's reconcile that asset!'

upvoted 0 times

...

Precious

1 months ago

I'm going to have to go with B) loss liability. Anything else would just be pulling an answer out of thin air.

upvoted 0 times

Leonora

6 days ago

Definitely, it's all about managing risk and ensuring the company can cover any losses.

upvoted 0 times

...

Sabra

12 days ago

Yeah, I think it's important to consider the financial impact of an insured incident.

upvoted 0 times

...

Lavonda

25 days ago

I agree, B) loss liability makes the most sense in this scenario.

upvoted 0 times

...

Von

1 months ago

A) loss credit? What is this, a credit card company? Definitely B) loss liability is the way to go.

upvoted 0 times

...

Judy

2 months ago

Hmm, C) remediation could work if it's related to the insurance company's actions after the incident, but I think B) loss liability is the best fit here.

upvoted 0 times