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SOFE Accredited Financial Examiner AFE Question # 35 Topic 4 Discussion

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SOFE Accredited Financial Examiner AFE Question # 35 Topic 4 Discussion

AFE Exam Topic 4 Question 35 Discussion:
Question #: 35
Topic #: 4

Direct serving loans method requires a system of good internal control and requires that the functions be split between the Accounting Department and the Investment Department. In such a case the Accounting Department is responsible for all of the following EXCEPT:
A.

Supplying the Investment Department with correct data and reports that summarize all loan transactions

B.

Alerting the Investment Department promptly whenever an exception to the normal processing routine occurs

C.

The design, maintenance, and accuracy of accounting records, for periodic management and exception reports, and for statutory statement preparation

D.

Its records may or may not provide the needed data to support this reporting function

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Actual exam question for SOFE AFE exam by Nyx43193 at Aug 3, 2025, 12:00:00 AM

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