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We reexamine the hypothesis that the optical/UV/soft X-ray continuum of Active Galactic Nuclei is thermal emission from an accretion disk. Previous studies have shown that fitting the spectra with the standard, optically thick and geometrically thin accretion disk models often led to luminosities which contradict the basic assumptions adopted in the standard model. There is no known reason why the accretion rates in AGN should not be larger than the thin disk limit. In fact, more general, slim accretion disk models are self-consistent even for moderately super-Eddington luminosities. We calculate here spectra from a set of thin and slim, optically thick accretion disks. We discuss the differences between the thin and slim disk models, stressing the implications of these differences for the interpretation of the observed properties of AGN. We found that the spectra can be fitted not only by models with a high mass and a low accretion rate (as in the case of thin disk fitting) but also by models with a low mass and a high accretion rate. In the first case fitting the observed spectra in various redshift categories gives black hole masses around 10^9 solar masses for a wide range of redshifts, and for accretion rates ranging from 0.4 to 8 solar masses/year. In the second case the accretion rate is around 10^2 solar masses/year for all AGN and the mass ranges from 3*10^6 to 10^8 solar masses. Unlike the disks with a low accretion rate, the spectra of the high-accretion-rate disks extend into the soft X-rays. A comparison with observations shows that such disks could produce the soft X-ray excesses claimed in some AGNs. We show also that the sequence of our models with fixed mass and different accretion rates can explain the time evolution of the observed spectra in Fairall 9.
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