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Test Number : CFE
Test Name : Certified Financial Examiner (CFE)
Vendor Name : Financial
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CFE exam Format | CFE Course Contents | CFE Course Outline | CFE exam Syllabus | CFE exam Objectives


1. CFE designation requirement
To qualify for the CFE designation, you must have obtained the AFE designation or be applying for the AFE designation concurrently with the application for the CFE designation. A CFE designation will not be granted until the AFE designation is obtained. This may occur on the same day, but the AFE designation requirements must be met before the CFE can be obtained.

2. Education requirements
To qualify for the CFE designation, you must have:

Successfully completed three semester hours of a Management course from an accredited college or university or its demonstrable equivalent, and you must provide evidence of the successful completion of this course by either a certificate of completion or a college transcript.

Note that the Management courses offered by CPCU, LOMA, and CLU will satisfy this requirement. For more information about their courses in Management, visit their websites at www.aicpcu.org, www.loma.org, and www.theamericancollege.edu.

To qualify for the CFE designation, you must successfully complete the three CFE examinations administered by the Society of Financial Examiners. The three CFE exams are:

CFE1 - Examination Methods and Management
CFE2 - Enterprise Risk Management
CFE3 - Reinsurance

The information about registering for these examinations is provided at http://www.sofe.org/testing/. To assist in studying for these examinations, the Society provides study guides and textbook materials. A description of these study items is also provided at http://www.sofe.org/testing/. You are welcome to take CFE exams prior to receiving the AFE designation but must receive the AFE designation prior to receiving the CFE designation.

Conditional Credit Policy - Effective January 1, 2012, a candidate for the CFE designation will be subject to the conditional credit policy as stated below:

The passing grade for each of the tests of the CFE is 66 prior to July 1, 2014; thereafter it is 74. A candidate who passes any test of the CFE will earn conditional credit for that test. This conditional credit expires 36 months after the testing date. If a candidate does not successfully pass the remaining tests within the 36 months, the test associated with the conditional credit must be retaken.

An application reflecting fulfillment of all requirements for a designation must be submitted within thirty-eight months following the month in which the applicant passed his/her first exam for that designation track.

4. Work-related experience requirements
To qualify for the CFE designation, you must be an insurance department employee, or self-employed with a contract for services directly with an insurance department, or be employed with a company that has a contract with a state insurance department and have three (3) years of continuous, responsible insurance department examination experience as a financial examiner. Note that the two years required for the AFE designation, qualify as the first two years of the requirement for the CFE, therefore, you only need to obtain one additional year.

5. Membership requirements
To qualify for the CFE designation, you must be an Accredited Member in good standing of the Society of Financial Examiners.

6. Application approval requirements
To receive the CFE designation, you must submit an application to SOFE headquarters and it must be approved first by the Membership Committee, who will then recommend it for approval by the Executive Committee of the Society. Upon approval by the Executive Committee, the designation will become effective.

Deadlines — The approval process of a properly completed designation application is typically between six to eight weeks, as follows: The completed application, with all required information and documentation must be submitted to SOFE by email, fax or mail, for arrival by the 3rd week of the month for inclusion in the next months Membership Committee review. Applicants recommended for approval by the Membership Committee are then submitted for vote by the Executive Committee, generally within 30 days of Membership Committee approval. Applications may be found on the Society's website at www.sofe.org under the link for SOFE Forms or under the Resource tab.



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Financial real questions

Three questions to Ask earlier than Investing In Property technology | CFE Cheatsheet and boot camp

Prasan Kale is CEO of upward thrust Buidings, a property know-how platform powering connections between americans & constructions.

getty

In precise property, they regularly hear suave advertising that touts how know-how can advantage a constructing. while or not it's regularly the case that expertise has a lot of perks, when it comes to investing in technology for your property, those merits are usually measured a technique: have an effect on to profitability.

I do not say this to be cynical; many of the things that result in greater profitability, comparable to energy effectivity or automation, have effective external consequences as well (e.g., a cleaner atmosphere or much less waste). The premier intention of any monetary investment, although, is to make money.

Yet when real property homeowners and operators consider making most important expertise purchases, they regularly focus on conducting prolonged request-for-concept (RFP) or different techniques that do not cowl what I consider to be three of essentially the most consequential questions:

1. Will your technology generate a good return on funding (ROI)?

2. How directly can i expect to see that ROI?

3. What records or proof elements do you've got that i'll obtain the ROI?

1. Will your technology deliver a favorable return on investment (ROI)?

The reply may still be an unequivocal sure. Any answer that would not convey a positive ROI won't meet your needs — and without doubt might not be around very lengthy. while this should be intuitive, and expertise partners should still provide a transparent response, lack of specificity can cloud the answer through conflating two different types of ROI: complicated and soft.

challenging-dollar ROI can be naturally described and quantified. It represents direct, measurable savings or incremental revenue because of an funding. On the can charge aspect, savings customarily come from operational efficiency (automation), alternative can charge (substituting a cheaper expertise for a more high priced one) or cost avoidance (purchasing one expertise at a reduce charge to stay away from buying varied solutions that add as much as a enhanced fee). On the salary side, ROI comes from charging your valued clientele (tenants) extra for rent or additional features.

tender-greenback ROI, then again, is greater complex and speculative. It takes time to know or can also not be realized at all. it is commonly tied to desires that can be affected by diverse variables and as a result it can also be harder to tease out the direct impact of a selected funding on an followed outcomes.

Examples of sentimental-dollar ROI often relate to secondary desires such as engagement or retention. within the case of retention, if an owner observes a reduce in tenant turnover three years after procuring tenant event technology, how do they understand if the reduce turned into because of expertise, the standard economic system or other elements which are problematic to separate? Of path, this isn't to assert that soft-dollar ROI is never real — only that it's not effortless to attribute the effect to the trigger.

due to this, the other two questions are critical.

If an owner invests in a know-how for their constructing or portfolio and they are expecting to earn a positive ROI, they may still have ambitions towards which their investment is measured to ensure they are assembly their desires and really take note where their efficiency advancements are coming from.

2. How directly can i are expecting to look that ROI?

Timing is essential to understanding the possibility charge of your return. a positive ROI that takes a long time to achieve is likely now not a superb investment relative to different places you may invest your capital.

Having a timeline also serves as a fact verify for the know-how accomplice through comfortably announcing, "I hear you selling me the dream; when will i do know the dream has come authentic?" with out certainly setting up this, a technology provider can all the time argue, "It just takes a bit longer."

three. What information or proof elements do you've got that i'll achieve the ROI?

The intention of this query is to ask the know-how company to clarify how you can inform if in case you have finished your intention. no longer simplest is statistics significant for developing an inexpensive estimate of a future soft-greenback ROI, however establishing proof features permits you to appreciate the milestones as they're finished. In other words, remember to ask, "What proof can you supply me that what you're asserting to me is precise?" regular proof facets encompass case stories or testimonials.

The point of all this is never to assert that difficult-dollar ROI is always more advantageous than gentle-dollar ROI — it will probably now not be. complicated-dollar ROI is always lessen possibility, notwithstanding, because it's bankable within the near term, whereas many issues may additionally have to go correct to trap tender-greenback ROI, supplied the probability to accomplish that exists within the first location. 

Too frequently home owners misperceive tender-greenback ROI as having the same chance as challenging-greenback ROI. The greatest applied sciences present each — an upfront return on expertise dollars mitigates the chance, which permits you to pursue downstream delicate-greenback ROI the usage of "residence funds."

Of direction, the usage of condominium funds is one of the most appropriate easy methods to invest. by asking the right questions from the birth, you can be certain you have the ideal possibility of maximizing returns in your technology investments.

Forbes precise property Council is an invite-simplest community for executives within the genuine property industry. Do I qualify?


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