Financial CFE Exam (page: 10)
Financial Certified Examiner (CFE)
Updated on: 25-Dec-2025

Viewing Page 10 of 85

Which of the following is NOT the loss category?

  1. paid losses
  2. losses reserved for future payment
  3. losses incurred
  4. subsidiary losses

Answer(s): D



Which of the following is the loss characteristic?

  1. known vs. unknown
  2. reported vs. unreported
  3. short-tail vs. long-tail
  4. All of the above

Answer(s): D



The reserve for a reported claim that is established by an adjuster or a formula based on the company's loss experience is called:

  1. loss reserve
  2. case reserve
  3. adjustment reserve
  4. predefined reserve

Answer(s): B



Which practices will vary based on company claim procedures, the line of business and size of claim.

  1. loss reserve
  2. claim reporting
  3. Loss reporting
  4. portfolio reserve

Answer(s): B



The claims that have occurred prior to the company's balance sheet date, were not reported, and therefore are not recorded by the company are known as:

  1. Unknown losses
  2. Unclaimed losses
  3. Unrecorded losses
  4. Long-tail losses

Answer(s): A



Viewing Page 10 of 85



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