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Total 286 questions

Accredited Financial Examiner Questions and Answers

Question 5

An increase in loss reserves may lead to offset by a reduction in premiums and a decrease in loss reserves may be a receivable for additional premiums.

Options:

A.

True

B.

False

Question 6

Which of the following is NOT included when initial acquisition of Subsidiary, Controlled and Affiliated Entities (SCA) is recorded as the sum of?

Options:

A.

any cash payment

B.

the fair value of other assets distributed

C.

the fair value of any expenses

D.

any direct costs of the acquisition

Question 7

The organizations in which the ownership and control of operations are vested in the policyholders are known as:

Options:

A.

Private entities

B.

Public entities

C.

Reciprocal entities

D.

Mutual entities

Question 8

Who is responsible for accounting for customer remittance advices and the agent’s current account?

Options:

A.

Accounts department

B.

Customer release policy

C.

Payment policy

D.

Premium collection department

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Total 286 questions