AFSB 153 CERTIFICATION EVALUATION
2026 STUDY GUIDE QUESTIONS AND
ANSWERS
◉ Commission Merchants and Produce Dealers Bonds
Answer: Principal = Commission merchant or produce dealer
Obligee = State
Guarantee = That the merchant or dealer will pay the grower for the
produce when sold.
◉ State Livestock Dealers Bonds
Answer: Principal = Dealer
Obligee = State
Guarantee = Payment to producers for livestock that is not included
in the federal act.
◉ Milk Dealer Bonds
Answer: Principal = Dealer
Obligee = State
Guarantee = Dealers pay proceeds from dairy sales to the dairy
farmers.
,◉ Contractors License Bonds
Answer: o Principal = Electrician, plumber, general contractor, or
other construction tradesperson who contracts work to repair
homes or commercial buildings or structures or who adds
equipment or improvements to them, such as wiring, plumbing,
heating, and air conditioning equipment.
o Obligee = State, county or municipality
o Guarantee = will comply with all laws that govern its business or
profession and follow all building codes.
◉ Customs Bonds
Answer: o Principal = Importer or broker, custodian of bonded
merchandise (such as a warehouse), international carrier, foreign
trade zone operator (provides logistics for importers and exporters),
public gauger (organizations and individuals who measure or
sample merchandise)
o Obligee = U.S. government
o Guarantee = Pay import duties, taxes, and other assessments,
redeliver any merchandise that the CBP determines was imported
illegally or was ineligible for importation, comply with CBP
regulations, including statistical reporting.
◉ Blue-Sky Bonds
Answer: Principal = Dealer or broker
,Obligee = State
Guarantee = Will comply with state laws and indemnity security
buyers against loss resulting from false representations made by the
dealer or by any salespeople to induce the buyer to purchase
securities.
◉ Check Sellers Bonds
Answer: Principal = Party that issues the checks, money orders, or
foreign currency
Obligee = State or municipality
Guarantee = Will honor and pay any check, money order, or other
exchange that it sells.
◉ Collection Agency Bonds
Answer: Principal = Collection agency
Obligee = State
Guarantee = Will collect funds on behalf of customers and properly
account for and remit those funds.
◉ Debt Consolidators and Professional Fundraisers Bonds
Answer: Principal = Owner or operator of the business that assists
clients or collects funds on their behalf
Obligee = State or municipality
, Guarantee = Compliance with the laws that govern collections and
solicitations.
◉ Insurance Adjusters Bonds
Answer: Principal = Insurance adjuster
Obligee = State or municipality
Guarantee = Will comply with laws governing the industry and will
properly account for and remit funds for products sold, premium
payments collected, and taxes due.
◉ Insurance Agent and Broker Bonds
Answer: Principal = Insurance agent or broker
Obligee = State or municipality
Guarantee = Will comply with laws governing the industry and will
properly account for and remit funds for products sold, premium
payments collected, and taxes due.
◉ Surplus Lines Agents and Brokers Bonds
Answer: Principal = Surplus Lines agent or broker
Obligee = State or municipality
Guarantee = Will comply with laws governing the industry and will
properly account for and remit funds for products sold, premium
payments collected, and taxes due.
2026 STUDY GUIDE QUESTIONS AND
ANSWERS
◉ Commission Merchants and Produce Dealers Bonds
Answer: Principal = Commission merchant or produce dealer
Obligee = State
Guarantee = That the merchant or dealer will pay the grower for the
produce when sold.
◉ State Livestock Dealers Bonds
Answer: Principal = Dealer
Obligee = State
Guarantee = Payment to producers for livestock that is not included
in the federal act.
◉ Milk Dealer Bonds
Answer: Principal = Dealer
Obligee = State
Guarantee = Dealers pay proceeds from dairy sales to the dairy
farmers.
,◉ Contractors License Bonds
Answer: o Principal = Electrician, plumber, general contractor, or
other construction tradesperson who contracts work to repair
homes or commercial buildings or structures or who adds
equipment or improvements to them, such as wiring, plumbing,
heating, and air conditioning equipment.
o Obligee = State, county or municipality
o Guarantee = will comply with all laws that govern its business or
profession and follow all building codes.
◉ Customs Bonds
Answer: o Principal = Importer or broker, custodian of bonded
merchandise (such as a warehouse), international carrier, foreign
trade zone operator (provides logistics for importers and exporters),
public gauger (organizations and individuals who measure or
sample merchandise)
o Obligee = U.S. government
o Guarantee = Pay import duties, taxes, and other assessments,
redeliver any merchandise that the CBP determines was imported
illegally or was ineligible for importation, comply with CBP
regulations, including statistical reporting.
◉ Blue-Sky Bonds
Answer: Principal = Dealer or broker
,Obligee = State
Guarantee = Will comply with state laws and indemnity security
buyers against loss resulting from false representations made by the
dealer or by any salespeople to induce the buyer to purchase
securities.
◉ Check Sellers Bonds
Answer: Principal = Party that issues the checks, money orders, or
foreign currency
Obligee = State or municipality
Guarantee = Will honor and pay any check, money order, or other
exchange that it sells.
◉ Collection Agency Bonds
Answer: Principal = Collection agency
Obligee = State
Guarantee = Will collect funds on behalf of customers and properly
account for and remit those funds.
◉ Debt Consolidators and Professional Fundraisers Bonds
Answer: Principal = Owner or operator of the business that assists
clients or collects funds on their behalf
Obligee = State or municipality
, Guarantee = Compliance with the laws that govern collections and
solicitations.
◉ Insurance Adjusters Bonds
Answer: Principal = Insurance adjuster
Obligee = State or municipality
Guarantee = Will comply with laws governing the industry and will
properly account for and remit funds for products sold, premium
payments collected, and taxes due.
◉ Insurance Agent and Broker Bonds
Answer: Principal = Insurance agent or broker
Obligee = State or municipality
Guarantee = Will comply with laws governing the industry and will
properly account for and remit funds for products sold, premium
payments collected, and taxes due.
◉ Surplus Lines Agents and Brokers Bonds
Answer: Principal = Surplus Lines agent or broker
Obligee = State or municipality
Guarantee = Will comply with laws governing the industry and will
properly account for and remit funds for products sold, premium
payments collected, and taxes due.
