Financial SOFA-CFE Exam Questions
Certified Financial iner (Page 15 )

Updated On: 21-Mar-2026

The trigger is the assertion of a claim rather than the occurrence of the injury.

  1. true
  2. False

Answer(s): A



Transaction Code, Class of Risk, Line of Business, and Policy Expiration Date are all claim data elements of a company's:

  1. operational plan
  2. Transaction cycle
  3. Data maintenance
  4. statistical plan

Answer(s): D



In the case of an advance or partial payment, the loss reserve should not be adjusted to zero, but in cases of final payment, the loss reserve is adjusted to zero.

  1. True
  2. False

Answer(s): A



What is used as the control for the company's financial information?

  1. General Ledger
  2. Balance sheet
  3. Financial statement
  4. Accounting cycle

Answer(s): A



The accrual or reserve for anticipated salvage and subrogation receipts would be recorded in which account?

  1. draft register reserve
  2. debt-first reserve
  3. contra-liability loss reserve
  4. unstructured reserve

Answer(s): C



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