Accredited Financial Examiner Practice Exam
The Accredited Financial Examiner (AFE) designation is a stepping stone towards becoming a Certified Financial Examiner (CFE), a highly sought-after credential in the field of fraud detection and prevention. Offered by the Society of Financial Examiners (SOFE), the AFE program validates your foundational understanding of key financial concepts applicable to insurance examinations.
Who Should Take the AFE Exam?
This exam is ideal for individuals aspiring to careers in:
- Insurance claims adjusting
- Insurance underwriting
- Insurance fraud investigation
- Risk management within the insurance industry
Are There Prerequisites?
A Bachelor of Science degree or two years of continuous experience in comparable subjects in finance are required. The candidate must be a General Member in good standing of the Society of Financial Examiners in order to be eligible for the AFE designation.
Roles and Responsibilities
Bypassing the AFE exam, you'll gain the knowledge to:
- Analyze Insurance Policies: Comprehend various insurance policy types and their coverage details.
- Assess Insurance Claims: Evaluate the legitimacy of insurance claims and identify potential red flags.
- Understand Insurance Accounting: Grasp core insurance accounting principles and practices.
- Apply Risk Management Techniques: Learn to implement risk management strategies within the insurance industry.
Earning the AFE demonstrates your commitment to the insurance field and lays the groundwork for pursuing the more advanced CFE certification, which opens doors to a wider range of career opportunities in fraud examination and financial crime investigation.
Course Outline
The topics that the Accredited Financial Examiner exam covers are:
1. Life and health insurance
2. Property and liability insurance
3. Accounting property insurance
4. Accounting life insurance