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How Do Property & Liability Insurance Fundamentals Improve Your AFE Exam Preparation? The AFE exam also called the Accredited Financial Examiner exam is designed to test how well candidates understand financial systems auditing practices and insurance basics. It is a professional test that needs not only book knowledge but also the ability to use concepts in real cases. Preparing for this exam means paying close attention to key subjects and property and liability insurance are among the important areas to focus on. Property insurance deals with protection against risks such as fire theft or damage to assets. Liability insurance focuses on covering claims made by others when there is injury...