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IFPUG AFE Exam Overview:
| Certification Vendor: | Society of Financial Examiners (SOFE) |
|---|---|
| Exam Name: | Accredited Financial Examiner (AFE) |
| Exam Number: | AFE |
| Related Certifications: | Certified Financial Examiner (CFE) |
| Certificate Validity Period: | Maintained through continuing education; minimum 20 credit hours annually and 120 credit hours per triennial reporting period |
| Real Exam Qty: | 4 separate examinations |
| Exam Format: | Written examination, Multiple examinations |
| Available Languages: | English |
| Sample Questions: |  |
| Exam Way: | SOFE-administered examinations; testing available through official SOFE testing program. |
| Pre Condition: | Bachelor's degree in accounting, or a bachelor's degree in another field with required coursework in accounting, finance/economics, and business law; SOFE General Membership; two years of qualifying insurance department financial solvency regulation experience. |
| Official Syllabus URL: | https://www.sofe.org/education/accredited-financial-examiner.html |
IFPUG AFE Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Property and Liability Insurance Accounting | - Accounting and financial analysis
|
| Property and Liability Insurance Fundamentals | - Property insurance concepts
|
| Life and Health Insurance Fundamentals | - Life insurance fundamentals
|
| Life and Health Insurance Accounting | - Accounting principles
|
AFE Exam FAQ: What Candidates Ask About IFPUG Accredited Financial Examiner (AFE)
The AFE exam, officially known as IFPUG Accredited Financial Examiner (AFE), is the IFPUG test that leads to the IFPUG Certifications certification at the Associate level. Passing it validates the skills employers expect from a certified professional. It is also associated with related credentials such as Certified Financial Examiner (CFE).
Bachelor's degree in accounting, or a bachelor's degree in another field with required coursework in accounting, finance/economics, and business law; SOFE General Membership; two years of qualifying insurance department financial solvency regulation experience.
Entry requirements can change, so confirm the latest conditions on the official exam page: https://www.sofe.org/education/accredited-financial-examiner.html.
Yes. A free PDF demo of the IFPUG Accredited Financial Examiner (AFE) questions is available, so you can check the question style and answer quality before you pay. Every purchase also includes 365 days of free updates, and if the product expires you can renew the update service at a 50% discount from your member zone.
If you take the corresponding AFE exam within 60 days of purchase and do not pass, you can apply for a full refund under the 100% Money Back Guarantee: submit a scan of your enrollment slip and your official Score Report (PDF) within 2 days of the exam date, and the claim is processed within 7 days. Attempts made within 3 days of purchase, downloads without an actual exam attempt, free materials, and expired orders are not eligible, and the candidate name must match the payer name. Prefer new material instead of a refund? You can exchange your purchase for two free products of equal value and keep the update service on your original product. As for delivery, the files are available for instant download and are also emailed to you within one minute of payment — if nothing arrives within 2 hours, contact customer service. There is no limit on how many computers you can install the product on.
The official IFPUG Accredited Financial Examiner (AFE) outline is organized into 4 domains. The first three are:
- Property and Liability Insurance Fundamentals
- Life and Health Insurance Fundamentals
- Property and Liability Insurance Accounting
See the complete exam topics section above for the full outline and the weighting of every domain.
IFPUG Accredited Financial Examiner (AFE) Sample Questions:
Question 1
The reason behind, when an insurance entity may request permission from the domiciliary state regulatory authority to use a specific accounting practice in the preparation of its statutory financial statements, may include:
A. the prescribes SAP address the accounting for transaction
B. Neither A nor B
C. Both A & B
D. the entity wishes to depart from Statutory Accounting Practices (SAP)
Question 2
Which of the following may NOT involve a high degree of management judgment and subjectivity and may present risks of material misstatement due to fraud?
A. key estimates
B. Reinsurance
C. Deferred acquisition costs
D. Investments
Question 3
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.
A. True
B. False
Question 4
A package of coverage including most property and liability coverage except workers' compensation, automobile insurance and surely bonds is called:
A. Single peril
B. Multiple peril
C. professional property
D. Property lines
Question 5
Short-term portfolios are:
A. Portfolios consisting of assets with maturities of less than one year to meet liquidity needs.
B. Portfolios consisting of liabilities with maturities of one year to meet dollar needs.
C. Portfolios consisting of combined revenues of less than one year to meet liquidity needs.
D. Portfolios consisting of expenses with maturities of less than or equal to one year to meet dollar needs.
Solutions:
| Question 1 Answer: D | Question 2 Answer: A | Question 3 Answer: B | Question 4 Answer: B | Question 5 Answer: A |
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We still understand the effort, time, and money you will invest in preparing for your certification exam, which makes failure in the IFPUG AFE exam really painful and disappointing. Although we cannot reduce your pain and disappointment but we can certainly share with you the financial loss.
This means that if due to any reason you are not able to pass the AFE actual exam even after using our product, we will reimburse the full amount you spent on our products. you just need to mail us your score report along with your account information to address listed below within 7 days after your unqualified certificate came out.
