FoxExams
USA
Accredited Financial Examiner (AFE) Examination
600 questions
Session complete
Keep going in the FoxExams app for adaptive practice, mocks, and Ask Fox.
See you tomorrow
About this exam
The Accredited Financial Examiner (AFE) Examination is part of the Society of Financial Examiners’ professional credential for people who examine insurance companies and other financial institutions. Candidates often work in state insurance departments or related regulatory roles; accountants may pursue the AFE to build expertise in insurance regulation and financial condition analysis. The credential assesses technical knowledge used in financial examinations, rather than selecting applicants for a particular job. Eligibility, experience, and examination requirements are set by SOFE, so candidates should confirm the current rules before applying.
AFE exam preparation commonly involves insurance accounting, statutory financial statements, statutory accounting principles, annual statement analysis, and risk-based capital. Accountants should be ready to apply these concepts to an insurer’s reported financial position, not just memorize terminology. The exam’s format, subject coverage, and requirements can change, so use the current SOFE candidate guidance as the authority for the 2027–2028 cycle. A focused review plan, careful work with statutory reporting concepts, and occasional online MCQ practice can help identify gaps without replacing official study materials.
How to prepare for the AFE Examination
- Start with SOFE’s current examination guidance and map its stated requirements and subject areas into a study schedule; verify any cycle-specific updates directly with the Society.
- Review statutory accounting principles, insurance annual statements, and risk-based capital together. Practice explaining how accounting choices and reported figures affect an insurer’s financial condition.
- Use timed question sets to check recall and application, then review every missed answer. Keep a short list of recurring errors, especially around statutory reporting terms and financial analysis.
FAQ
Who is eligible to take the AFE Examination?
The AFE credential is intended for financial examination professionals, including people examining insurers and other financial institutions. SOFE sets the applicable education, experience, and examination requirements; check its current candidate guidance to confirm your eligibility.
What is the format of the AFE Examination?
The exam format and requirements are determined by SOFE and may be updated. Consult the current candidate materials for the number or organization of examination components, delivery details, and any applicable policies rather than relying on older descriptions.
What subjects should I study for the AFE Examination?
Key preparation areas include insurance accounting, statutory financial statements, statutory accounting principles, insurance annual statement analysis, and risk-based capital. Use SOFE’s current exam guidance to confirm the applicable coverage and prioritize topics where you need more practice.