SOFE Exam SOFA-CFE Topic 3 Question 92 Discussion

Actual exam question for SOFE's SOFA-CFE exam

Question #: 92
Topic #: 3

The reserve for a reported claim that is established by an adjuster or a formula based on the company's loss experience is called:

Aloss reserve

Bcase reserve

Cadjustment reserve

Dpredefined reserve

Show Suggested Answer

Suggested Answer: A

by Elfrieda at Jul 09, 2024, 06:31 AM

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Carey

1 months ago

Haha, I bet the insurance company would love to have a 'predefined reserve' that they could just pull from whenever they needed it. But in all seriousness, I agree with Rachael - B) case reserve is the way to go here.

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Lauryn

1 months ago

D) predefined reserve is an interesting option, but I don't think it quite fits the description. I'm leaning towards B) case reserve.

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Kimi

2 days ago

I think C) adjustment reserve could be the correct answer based on the description.

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Julene

19 days ago

I'm not sure, but A) loss reserve could also be a possibility.

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Peggy

1 months ago

I agree, I think B) case reserve makes more sense in this context.

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Darrin

2 months ago

Hmm, I'm not so sure. A) loss reserve seems like it could also be a valid answer. I'll have to think about this one a bit more.

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Cassi

1 months ago

I'm not sure, but D) predefined reserve sounds plausible.

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Rodrigo

2 months ago

I'm leaning towards C) adjustment reserve.

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Susana

2 months ago

I believe it could also be B) case reserve.

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Alisha

2 months ago

I think A) loss reserve is the correct answer.

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Rachael

2 months ago

I think the correct answer is B) case reserve. That makes the most sense to me based on the description.

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Ashton

2 months ago

I'm not sure, but I think it could also be B) case reserve since it's for a reported claim.

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Louisa

2 months ago

I agree with Cordelia, loss reserve makes sense because it's based on the company's loss experience.

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Cordelia

3 months ago

I think the answer is A) loss reserve.

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