Most Recent SOFE AFE Exam Dumps

Prepare for the SOFE Accredited Financial Examiner exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the SOFE AFE exam and achieve success.

The questions for AFE were last updated on Mar 30, 2025.

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Question No. 1

Scope of Examination and Report of Independent Certified Public Accountant states that:

Athe insurer shall also require that the independent certified public accountant subject the data used by the appointed actuary to testing procedure.

Bthe insurer shall also require that the group of certified public accountant subject the data used by the appointed actuary to planning procedure.

Cthe investor shall also require that the independent certified private accountant subject the data used by the appointed actuary to developing procedure.

Dthe investor shall also require that the independent certified public accountant subject the data used by the appointed actuary to maintaining procedure.

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Correct Answer: A

Question No. 2

During the underwriting process, information related to a mortgage loan is collected, and this information is the basis for a final decision as to whether or not the loan should be made. The documents generated during this underwriting process are all of the following EXCEPT:

ALoan applications

BCredit reports

CBorrower's financial statements

DPeriodic inspection reports

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Correct Answer: D

Question No. 3

Most life insurance companies that are taxable in Canada fall into which one of the following classifications:

ADomestic life insurance companies

BMultinational life insurance companies resident in Canada

CNonresident life insurance companies operating in Canada through a branch

DAll of the above

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Correct Answer: D

Question No. 4

Subrogation is:

Alegal right of the distributer to recover from vendors who may be wholly responsible for the loss paid under the terms of the agreement.

Blegal right of the insurer to recover from a third party who may be wholly or partly responsible for the loss paid under the terms of the policy.

Clegal right of the claimer to recover from the organization that may be wholly or partly responsible for the loss paid under the terms of the company's policy.

Dlegal right of the business to recover from a third party who may be wholly responsible for the loss paid under the terms of the policy.

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Correct Answer: B

Question No. 5

Schedule rating:

Astarts with a real standard, frequently the judgmental rate, and adjusts such standard rates according to an evaluation of greater or lesser exposure to risk.

Bstarts with an assumed standard, frequently the manual rate, and adjusts such standard rates according to an evaluation of greater or lesser exposure to risk.

Cstarts with an assumed standard, frequently the class rate, and adjusts such standard rates according to an evaluation of greater or lesser exposure to risk.

Dstarts with a real standard, frequently the individual rate, and adjusts such standard rates according to an evaluation of greater or lesser exposure to risk.

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Correct Answer: B

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