SOFE Exam SOFA-CFE Topic 1 Question 96 Discussion

Actual exam question for SOFE's SOFA-CFE exam

Question #: 96
Topic #: 1

[All SOFA-CFE Questions]

The greater the size of the Incurred but not reported (IBNR) liabilities, the longer the:

Acatastrophe procedure

Btrack claims

Cemergence pattern

Dsettlement pattern

Show Suggested Answer

Suggested Answer: A

by Ezekiel at Sep 10, 2024, 01:42 PM

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Arlette

29 days ago

Wait, is this a trick question? What if the answer is 'All of the above'? The IBNR can affect everything!

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Trinidad

29 days ago

Hmm, I'm stumped. Maybe A) catastrophe procedure? The IBNR could be related to some catastrophic event, right?

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Becky

10 days ago

I think it might be D) settlement pattern. The larger the IBNR liabilities, the longer it may take to settle claims.

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Josue

1 months ago

I'm going with B) track claims. The IBNR makes it harder to track and monitor the claims as they come in.

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Tina

1 months ago

D) settlement pattern makes the most sense to me. The bigger the IBNR, the longer it takes to settle those claims.

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Caren

1 months ago

I think the answer is C) emergence pattern. The larger the IBNR liabilities, the longer it takes for the claims to emerge and be reported.

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Martha

12 hours ago

That makes sense. It affects the settlement pattern as well.

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Tony

2 days ago

Yes, you're right. The larger the IBNR liabilities, the longer it takes for claims to emerge.

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Malcom

29 days ago

I think the answer is C) emergence pattern.

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Nicholle

2 months ago

I'm not sure, but I think it could also be C) emergence pattern because it takes longer for the claims to emerge.

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Cherry

2 months ago

I agree with Jess, a larger IBNR liability would indicate a longer settlement pattern.

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Jess

3 months ago

I think the answer is D) settlement pattern.

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