AFE SOFE Exam Lab Questions

An entity’s practices concerning loss settlement, such as a practice of vigorously defending suits or of quickly settling suits, can have a significant effect on an entity’s loss experience.

In many states, a claims-made insurance policy is required to:

Selling a stream of contingent revenues to another party, at a discount to the expected value is called:

Sales of securities are recorded as of the trade date. A receivable due from the broker is established in instances when a security has been sold, but the proceeds from the sale have not been received. Receivable for securities not received within settlement date are non-admitted, and are classified as other than invested assets.