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Accredited Financial Examiner
Premium Q&As: 286
Last update: August 30, 2023
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Related AFE Questions & Answers
- Which are the types of misstatements relevant to the auditor’s consideration of fraud in a financial statement audit?
- Which of the following is NOT the interrelated component of internal control?
- Adjusting and Others (AO) reserves are often provided for by using the calendar year paid-to-paid method rather than the accident year paid-to-paid method used for Inflation in Defense & Cost Containment (DCC) reserves.
- Which investments held by life insurance enterprises should be carried in the balance sheet at amortized cost?
- A premium deficiency relating to which insurance contracts indicate a probable loss on premiums yet to be earned.
- The pro rata portion of premiums written allocable to unexpired policy periods represents unearned premiums, which are reflected as in the balance sheet.
- The agents submit to the insurance entity a statement of all policies issued or due during the current month, and the net amount of the statement is subsequently to be paid in accordance with the agency agreement, is an account current of:
- The adjustments of the premium during the period of coverage based on actual experience during that same period are called:
- For immediate annuities, this is the ______________, defined by the sequence of periodic
- An attitude that includes a questioning mind and a critical assessment of audit evidence is called:
- Accounting for escrow funds is difficult because of the large number of transactions related to such funds.
- Which counterparts of duration and convexity are the first- and second order sensitivities of an equity market instrument to changes in the price of the underlying?
- A holistic analysis in a multi-scenario framework of all significant factors that can affect an insurer’s future financial condition is called:
- Direct serving loans method requires a system of good internal control and requires that the functions be split between the Accounting Department and the Investment Department.
- At the end of each reporting period, unearned premiums are calculated and the change in unearned premiums is recorded as a change or debit to premium income.