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SOFA-CFE Exam Questions & Answers

Certified Financial Examiner  •  SOFE

415 Questions 90 min Updated Sep 2026 99% Pass Rate
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Sample SOFA-CFE Questions

Practice with real exam-style questions, each with the verified correct answer and explanation.

Q1 MultipleChoice

What are most often used in actuarial studies of ratemaking or loss reserving?

Correct Answer: C
Q2 MultipleChoice

Which of eth following is NOT the common method for concealing liabilities and expenses?

Correct Answer: D
Q3 MultipleChoice

Under statutory accounting principles, __________________costs are non-admitted assets and are charged directly to earnings, as their respective expense components are incurred.

Correct Answer: B
Q4 MultipleChoice

___________ are usually issued together with a bond or preferred stock, which entitles the holder to buy a specific amount of common stock at a specific price.

Correct Answer: D
Q5 MultipleChoice

What is a form of reinsurance whereby the reinsurers and the reinsured both share a proportional part of the original premiums?

Correct Answer: A

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Frequently Asked Questions

The SOFA-CFE (Certified Financial Examiner) certification is a professional credential offered by SOFE (Society of Financial Examiners) that validates expertise in financial examination and regulatory compliance. It is ideal for professionals working in banking, insurance, credit unions, and other financial institutions who want to advance their careers in examination, compliance, or risk management.

Candidates typically need a high school diploma or equivalent and relevant work experience in financial examination or a related field. Specific experience requirements may vary, but most applicants need 2-3 years of professional experience in banking, insurance, or financial services before they are eligible to sit for the exam.

The SOFA-CFE exam typically consists of multiple-choice questions covering various topics related to financial examination and regulatory compliance. The exact number of questions and passing score requirements are set by SOFE and may be updated periodically, so candidates should verify current exam specifications through the official SOFE website.

The exam covers essential areas including banking regulations, examination procedures, risk assessment, compliance requirements, and financial institution management. Candidates should also expect questions on ethical standards, fraud detection, and regulatory frameworks specific to different types of financial institutions.

SOFE offers official study materials, textbooks, and review courses designed specifically for CFE exam preparation. Many candidates also benefit from joining study groups, attending training workshops, and gaining practical experience in financial examination roles while preparing to take the exam.
Exam Details
  • Exam CodeSOFA-CFE
  • VendorSOFE
  • Total Questions415
  • Duration90 min
  • LanguageEnglish
  • Last UpdatedSep 2, 2026
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