BAIL BONDS UPDATED EXAM SCRIPT QUESTIONS AND
ANSWERS MARKED A+
✔✔Producer - ✔✔A person required to be licensed under the laws of this state to sell,
solicit, or negotiate insurance, and includes all persons or business entities otherwise
referred to in the La. Insurance code
✔✔False Swearing - ✔✔when a person tells a lie under oath,and it is put in writing and
sworn before a notary or other such official
✔✔Waiver - ✔✔implies giving up of a known right
✔✔Offer & Acceptance - ✔✔one party must take a proposition to the other and the
other must accept the proposal
✔✔Competent Parties - ✔✔sometimes referred to as "sui juris" parties
The parties must be legal age and in no way mentally impaired
✔✔Breach of Contract - ✔✔One party's failure to perform some act, which be
contractually agreed to do. In addition the aggrieved party may ask for monetary
damages under a suit
✔✔Unilateral Contract - ✔✔A contract in which only one party is obligated to perform.
Compare to bilateral contracts
✔✔Contract - ✔✔an agreement between 2 or more persons which is legally binding
✔✔Informal Contract - ✔✔Any contract that is not formal contract. Also called simple
contract
✔✔Bilateral Contract - ✔✔A contract in which both parties have promised to perform.
Compare to unilateral contract
✔✔Implied Contract - ✔✔a contract that infers to exist from the words and conducts of
the parties
✔✔Appearance Bond - ✔✔in a criminal proceeding, guarantees that the defendant will
appear in court each and every time he is ordered to do so until the case is disposed of
by the court
✔✔Exonerate - ✔✔to remover a burden or release from a duty. To free from
responsibility
,✔✔Jump bail - ✔✔leaving the jurisdiction or any other act by a defendant to avoid a
court appearance after a bail bond has been posted
✔✔Judgment - ✔✔the decision of a court. In cases of forfeiture, the judgment is the
court's order for the surety to pay
✔✔Bail Bond Regulatory Board - ✔✔a 7 member board appointed by the Insurance
Commissioner to assist the Dept. Of Ins. in the regulation of the bail industry
✔✔Bail Bondsman - ✔✔a limited surety agent or professional bondsman, as hereinafter
defined
✔✔Co-sureties - ✔✔2 or more sureties to the same obligation
✔✔Department - ✔✔in this course, The Dept of Ins
✔✔Liability - ✔✔In surety, an obligation, which must be preformed or otherwise fulfilled.
The face amount of a bond.
✔✔Indemnify - ✔✔to secure against loss; to insure; to hold harmless
✔✔Indemnitor - ✔✔One who indemnifies
✔✔Defendant - ✔✔one who must defend himself in some action of law. In criminal
proceedings, the accused. In criminal surety bonds, the principal
✔✔Collateralize - ✔✔to make secure with collateral
✔✔Misrepresentation - ✔✔False statement made during the period of inducement to
sign a contract
✔✔Build-Up-Fund (BUF) - ✔✔A fund which is held in trust for the limited surety agent
by the surety company and into which a portion of all bond premiums are paid. This
fund is normally used to indemnify the company from losses, which might be caused by
the agent
✔✔Extradite - ✔✔to surrender or deliver (a fugitive) to another jurisdiction
✔✔Contempt of Court - ✔✔an act or omission tending to obstruct or interfere with the
orderly administration of justice or to impair the dignity of the court or respect for its
authority
, ✔✔A court possesses inherently all powers necessary for the exercise of its jurisdiction
and the enforcement of its lawful orders. A court has the power to punish for contempt -
✔✔
✔✔Courts have the jurisdiction and powers over criminal proceedings that are conferred
upon them by the constitution and statues of this state - ✔✔
✔✔5 elements of Fraud - ✔✔1. False Statement
2. The party who makes the statement must know its untrue
3.He must intend that the other party will believe falsehood
4. The other party must accept the statement as the truth
5. The other party must be damaged as a result
✔✔Unfair methods of competition and unfair or deceptive acts or practices in the
business of insurance - ✔✔1. Misrepresentation
2. False information & advertising
3. Defamation
4. Boycott, coercion, & intimidation
5. False financial statements/False entries
6. Stock operations
7. Rebates
8. Unfair claims
✔✔Obligee, Obligor, Surety - ✔✔Parties of a bail bond contract
✔✔Actions that make a bond unenforceable - ✔✔Fraud, misrepresentation,
concealment, false swearing, waiver
✔✔Representations - ✔✔statements made by contracting parties during the stages of
inducement to sign a contract. If 1 statement is untrue it is called misrepresentations
✔✔Concealment - ✔✔the intentional withholding of facts by one party to a contract,
which if they were known, would prevent the other party from signing the contract
✔✔Agreement - ✔✔a meeting of the minds
✔✔Consideration - ✔✔the integral part of a valid contract; "good and valuable"
Can be an act for an act, a promise for a promise, or an act for a promise
✔✔Legality of object - ✔✔the contract must be entered into for legal purposes
✔✔Executory Contract - ✔✔a contract that sets forth promises that are not yet
performed
ANSWERS MARKED A+
✔✔Producer - ✔✔A person required to be licensed under the laws of this state to sell,
solicit, or negotiate insurance, and includes all persons or business entities otherwise
referred to in the La. Insurance code
✔✔False Swearing - ✔✔when a person tells a lie under oath,and it is put in writing and
sworn before a notary or other such official
✔✔Waiver - ✔✔implies giving up of a known right
✔✔Offer & Acceptance - ✔✔one party must take a proposition to the other and the
other must accept the proposal
✔✔Competent Parties - ✔✔sometimes referred to as "sui juris" parties
The parties must be legal age and in no way mentally impaired
✔✔Breach of Contract - ✔✔One party's failure to perform some act, which be
contractually agreed to do. In addition the aggrieved party may ask for monetary
damages under a suit
✔✔Unilateral Contract - ✔✔A contract in which only one party is obligated to perform.
Compare to bilateral contracts
✔✔Contract - ✔✔an agreement between 2 or more persons which is legally binding
✔✔Informal Contract - ✔✔Any contract that is not formal contract. Also called simple
contract
✔✔Bilateral Contract - ✔✔A contract in which both parties have promised to perform.
Compare to unilateral contract
✔✔Implied Contract - ✔✔a contract that infers to exist from the words and conducts of
the parties
✔✔Appearance Bond - ✔✔in a criminal proceeding, guarantees that the defendant will
appear in court each and every time he is ordered to do so until the case is disposed of
by the court
✔✔Exonerate - ✔✔to remover a burden or release from a duty. To free from
responsibility
,✔✔Jump bail - ✔✔leaving the jurisdiction or any other act by a defendant to avoid a
court appearance after a bail bond has been posted
✔✔Judgment - ✔✔the decision of a court. In cases of forfeiture, the judgment is the
court's order for the surety to pay
✔✔Bail Bond Regulatory Board - ✔✔a 7 member board appointed by the Insurance
Commissioner to assist the Dept. Of Ins. in the regulation of the bail industry
✔✔Bail Bondsman - ✔✔a limited surety agent or professional bondsman, as hereinafter
defined
✔✔Co-sureties - ✔✔2 or more sureties to the same obligation
✔✔Department - ✔✔in this course, The Dept of Ins
✔✔Liability - ✔✔In surety, an obligation, which must be preformed or otherwise fulfilled.
The face amount of a bond.
✔✔Indemnify - ✔✔to secure against loss; to insure; to hold harmless
✔✔Indemnitor - ✔✔One who indemnifies
✔✔Defendant - ✔✔one who must defend himself in some action of law. In criminal
proceedings, the accused. In criminal surety bonds, the principal
✔✔Collateralize - ✔✔to make secure with collateral
✔✔Misrepresentation - ✔✔False statement made during the period of inducement to
sign a contract
✔✔Build-Up-Fund (BUF) - ✔✔A fund which is held in trust for the limited surety agent
by the surety company and into which a portion of all bond premiums are paid. This
fund is normally used to indemnify the company from losses, which might be caused by
the agent
✔✔Extradite - ✔✔to surrender or deliver (a fugitive) to another jurisdiction
✔✔Contempt of Court - ✔✔an act or omission tending to obstruct or interfere with the
orderly administration of justice or to impair the dignity of the court or respect for its
authority
, ✔✔A court possesses inherently all powers necessary for the exercise of its jurisdiction
and the enforcement of its lawful orders. A court has the power to punish for contempt -
✔✔
✔✔Courts have the jurisdiction and powers over criminal proceedings that are conferred
upon them by the constitution and statues of this state - ✔✔
✔✔5 elements of Fraud - ✔✔1. False Statement
2. The party who makes the statement must know its untrue
3.He must intend that the other party will believe falsehood
4. The other party must accept the statement as the truth
5. The other party must be damaged as a result
✔✔Unfair methods of competition and unfair or deceptive acts or practices in the
business of insurance - ✔✔1. Misrepresentation
2. False information & advertising
3. Defamation
4. Boycott, coercion, & intimidation
5. False financial statements/False entries
6. Stock operations
7. Rebates
8. Unfair claims
✔✔Obligee, Obligor, Surety - ✔✔Parties of a bail bond contract
✔✔Actions that make a bond unenforceable - ✔✔Fraud, misrepresentation,
concealment, false swearing, waiver
✔✔Representations - ✔✔statements made by contracting parties during the stages of
inducement to sign a contract. If 1 statement is untrue it is called misrepresentations
✔✔Concealment - ✔✔the intentional withholding of facts by one party to a contract,
which if they were known, would prevent the other party from signing the contract
✔✔Agreement - ✔✔a meeting of the minds
✔✔Consideration - ✔✔the integral part of a valid contract; "good and valuable"
Can be an act for an act, a promise for a promise, or an act for a promise
✔✔Legality of object - ✔✔the contract must be entered into for legal purposes
✔✔Executory Contract - ✔✔a contract that sets forth promises that are not yet
performed
