AFSB 152 Practice Exam with Complete Solutions 100% Verified
AFSB 152 Practice Exam with Complete Solutions 100% Verified A. Because the next highest bid ($1 million) is 25 percent more than the low bid ($800,000), which is greater than a 10 percent difference, the bond underwriter would carefully investigate the differences and may not issue the performance and payment bonds. ️️Contractor A submits a bid of $800,000, Contractor B submits $1 million, Contractor C submits $1.2 million, and Contractor D submits $1.1 million. Which one of the following explains the outcome of applying the 10 percent rule for bids? A. Because the next highest bid ($1 million) is 25 percent more than the low bid ($800,000), which is greater than a 10 percent difference, the bond underwriter would carefully investigate the differences and may not issue the performance and payment bonds. B. Because the difference between the high and low bids is 50 percent more than the low bid of $800,000, which is greater than a 10 percent difference, the bond underwriter would probably decline to issue the performance and payment bonds
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