SOFE Accredited Financial Examiner Set 4

1.

Tax Act states that:

A life insurer is subject to an investment income tax of 15 percent on its net Canadian life investment income A life insurer is subject to an investment income tax of 25 percent on its net Canadian life investment income A life insurer is subject to an investment income tax of 35 percent on its net Canadian life investment income A life insurer is subject to an investment income tax of 45 percent on its net Canadian life investment income

2.

Which of the following id NOT the kind of Insurance?

Business policies fire and alliance lines inland marine professional liability

3.

A package of coverage including most property and liability coverage except workers' compensation, automobile insurance and surely bonds is called:

Single peril Multiple peril Property lines professional property

4.

Fidelity bonds cover employees against dishonest acts by employees.

1

5.

What provide for monetary compensation to third parties for failure by the insured to perform specifically covered acts with in a state period?

Worker compensation pools Multiple perils Surety bonds Inter-insurance act

6.

Excess liability:

covers the insured against the loss in access of an actual amount, but only for profits as covered and defined in a predetermined planning. covers the insured against the loss in access of an actual amount, but only for profits as covered and defined in an underlying policy. covers all uninsured against the gain in access of a stated amount, but only for losses as covered and defined in an underlying policy. covers the insured against the loss in access of a stated amount, but only for losses as covered and defined in an underlying policy.

7.

Coverage of risks that do not fit normal underwriting patterns and that are not commensurate with standard rates is normally refers to as:

Surplus lines Commercial lines Risk lines Standardized lines

8.

In which plan all activities writing automobile insurance in a state are allocated a share of the involuntary business on an equitable basis?

Automobile equitability Automobile insurance Automobile assurance None of the above

9.

Mutual entities, reciprocal or inter-insurance exchanges, public entity risk pools are all principal kinds of:

Property and expense insurance organizations Feasibility and performance assurance organizations Property and liability insurance organizations Building and asset related organizations

10.

The organizations in which the ownership and control of operations are vested in the policyholders are known as:

Private entities Public entities Reciprocal entities Mutual entities

SOFE Accredited Financial Examiner Set 4

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Congratulations

COMPANY

Products

OTHERS

Partner

SOFE Accredited Financial Examiner Set 4

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Answer & Solution

Answer: Option B

Solution:

Congratulations

Detail Form

COMPANY

Products

OTHERS

Partner