SOFE AFE - Accredited Financial Examiner

Either immediately or at some future date, periodic income payments to one or more persons, perhaps with a certain guaranteed number of payments or with a minimum guaranteed amount for those annuities not having life contingencies

Either immediately or at some future date, periodic income payments to one or more persons, perhaps with a certain guaranteed number of payments or with a minimum guaranteed amount for those annuities involving life contingencies

Either immediately or at some future date, perpetual income payments to one or more persons, perhaps with a certain guaranteed number of payments or with a maximum guaranteed amount for those annuities involving life contingencies

Either immediately or at some future date, periodic income payments to one or more persons, perhaps with a certain small number of payments

in-exchange

in-use

in-market

in-sale

combined ratio and its operating ratio

single module ratio and its operating ratio

Net ratio

Gross ration and actual ratio

ethical act

controlled procedure

structured settlement

None of the above

Agency does not make loans; it only insures them. For this protection the borrower must pay an annual insurance premium to the FHA of 0.5 percent of the outstanding principal amount of the loan

Agency does not make loans; upon default, the lender has the option either of assigning the mortgage to the FHA and receiving cash and/or securities equal to the loan amount at the date of the default or of foreclosing on the mortgaged property

Establishes standards for property that can not be insured and maximum terms, interest rates, and amounts for the insured loans

All of these

Evaluating and acceptability of risk

Determining the premium

Evaluation of entity’s capacity to retain risk

All of the above

duplication of branch records

maintenance of detailed entries for analytical purposes

use of planning procedures from main office for both premiums and cash

All of the above

Company can periodically audit the servicer’s records and files pertaining to the loans owned by the company. In lieu of making the audit, the company can agree to receive an annual audit report pertaining to its loans from the servicer’s independent certified public accountants. This is the single audit concept

Servicer should not have a fidelity bond and an errors and omission policy of stipulated minimum amounts

Servicer must have a fidelity bond and an errors and omission policy of stipulated minimum amounts

Servicer must have an annual independent audit, with a copy of the audited financial statements sent to the company within a certain period of time after the end of the servicer’s fiscal year

A public entity formed by the members of the public pool primarily to provide business risk competency to the members.

A business entity formed by the members of the private pool primarily to provide commercial asset insurance to the members.

An insurance entity formed by the members of the private pool primarily to provide commercial liability insurance to the members.

An insurance entity formed by the members of the public pool primarily to provide commercial expense insurance to the members.

projected reserves

computing reserves

case-development reserves

claim reserves