Free CFE Exam Braindumps (page: 58)

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is typically either the date of report to the insurer or the earlier of the dates of report to the insurer or the policyholder.

  1. Record-made date
  2. Claims-made date
  3. Transaction-made date
  4. Report-made date

Answer(s): B



The total of the individual estimates of outstanding liability for recorded claims is the:

  1. case reserve
  2. occurrence reserve
  3. adjustment reserve
  4. engaging reserve

Answer(s): A



What is the estimated liability for claims reported but not yet recorded?

  1. claims-adjustment reserve
  2. liability-for-claim reserve
  3. claims-in-transit reserve
  4. incurred-claim reserve

Answer(s): C



For a given financial statement, what should represent an insurer's best estimate of the liability?

  1. reasonable reserve
  2. carried reserve
  3. indicated reserve
  4. formula reserve

Answer(s): B



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sena commented on May 31, 2019
I will see if this helps
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