SOFE
SOFA-CFE · Question #52
SOFA-CFE Question #52: Real Exam Question with Answer & Explanation
The correct answer is B. Incurred losses = (Losses paid to date) _ (Loss reserve prior period) + (loss reserve current period). See the full explanation below for the reasoning.
Question
The formula to calculate Losses incurred for the accounting period is:
Options
- AIncurred losses = (Losses paid to date) / (Loss reserve prior period) + (loss reserve final period)
- BIncurred losses = (Losses paid to date) _ (Loss reserve prior period) + (loss reserve current period)
- CIncurred losses = (Annual Losses) _ (Losses paid to date) + (loss reserve current period)
- DIncurred losses = (Losses paid to date) + (Loss reserve prior period) _ (loss reserve current period)
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