3/28/26, 8:47 AM AFSB 153 EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | Qui…
AFSB 153 EXAM, MOST TESTED QUESTIONS AND
VERIFIED SOLUTIONS/GET IT 100% ACCURATE!!
2026!!
Save
Terms in this set (150)
Packers and Stockyards Act Bonds Principal = Party who sells or buys livestock, meat,
and poultry in the United States and abroad.
Obligee = Federal government
Guarantee = The principal will comply with state
and federal laws under the Packers and Stockyard
Act. The principal will properly remit funds due to
the seller. The principal will keep proper
accounting records. The principal will submit
accurate, timely reports to the Grain Inspection,
Packers and Stockyards Administration (GIPSA),
which administers the act.
Commission Merchants and Produce Principal = Commission merchant or produce
Dealers Bonds dealer
Obligee = State
Guarantee = That the merchant or dealer will pay
the grower for the produce when sold.
https://quizlet.com/1161354772/afsb-153-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 1/34
,3/28/26, 8:47 AM AFSB 153 EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | Qui…
State Livestock Dealers Bonds Principal = Dealer
Obligee = State
Guarantee = Payment to producers for livestock
that is not included in the federal act.
Milk Dealer Bonds Principal = Dealer
Obligee = State
Guarantee = Dealers pay proceeds from dairy sales
to the dairy farmers.
Contractors License Bonds 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 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.
https://quizlet.com/1161354772/afsb-153-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 2/34
,3/28/26, 8:47 AM AFSB 153 EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | Qui…
Blue-Sky Bonds 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 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 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 Principal = Owner or operator of the business that
Fundraisers Bonds 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 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.
https://quizlet.com/1161354772/afsb-153-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 3/34
, 3/28/26, 8:47 AM AFSB 153 EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | Qui…
Insurance Agent and Broker Bonds 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 Principal = Surplus Lines agent or broker
Bonds 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.
Third-Party Administrators Bonds Principal = Third-party administrator
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 Company Qualifying Principal = Insurer
Bonds Obligee = State
Guarantee = Insurance company will remain
solvent.
Mortgage Brokers, Bankers, and Principal = Broker, banker, or lender
Lenders Bonds Obligee = State
Guarantee = Will comply with all laws applicable to
the industry and will properly account for and remit
funds collected from clients and others.
https://quizlet.com/1161354772/afsb-153-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 4/34
AFSB 153 EXAM, MOST TESTED QUESTIONS AND
VERIFIED SOLUTIONS/GET IT 100% ACCURATE!!
2026!!
Save
Terms in this set (150)
Packers and Stockyards Act Bonds Principal = Party who sells or buys livestock, meat,
and poultry in the United States and abroad.
Obligee = Federal government
Guarantee = The principal will comply with state
and federal laws under the Packers and Stockyard
Act. The principal will properly remit funds due to
the seller. The principal will keep proper
accounting records. The principal will submit
accurate, timely reports to the Grain Inspection,
Packers and Stockyards Administration (GIPSA),
which administers the act.
Commission Merchants and Produce Principal = Commission merchant or produce
Dealers Bonds dealer
Obligee = State
Guarantee = That the merchant or dealer will pay
the grower for the produce when sold.
https://quizlet.com/1161354772/afsb-153-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 1/34
,3/28/26, 8:47 AM AFSB 153 EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | Qui…
State Livestock Dealers Bonds Principal = Dealer
Obligee = State
Guarantee = Payment to producers for livestock
that is not included in the federal act.
Milk Dealer Bonds Principal = Dealer
Obligee = State
Guarantee = Dealers pay proceeds from dairy sales
to the dairy farmers.
Contractors License Bonds 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 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.
https://quizlet.com/1161354772/afsb-153-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 2/34
,3/28/26, 8:47 AM AFSB 153 EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | Qui…
Blue-Sky Bonds 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 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 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 Principal = Owner or operator of the business that
Fundraisers Bonds 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 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.
https://quizlet.com/1161354772/afsb-153-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 3/34
, 3/28/26, 8:47 AM AFSB 153 EXAM, MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS/GET IT 100% ACCURATE!! 2026!! Flashcards | Qui…
Insurance Agent and Broker Bonds 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 Principal = Surplus Lines agent or broker
Bonds 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.
Third-Party Administrators Bonds Principal = Third-party administrator
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 Company Qualifying Principal = Insurer
Bonds Obligee = State
Guarantee = Insurance company will remain
solvent.
Mortgage Brokers, Bankers, and Principal = Broker, banker, or lender
Lenders Bonds Obligee = State
Guarantee = Will comply with all laws applicable to
the industry and will properly account for and remit
funds collected from clients and others.
https://quizlet.com/1161354772/afsb-153-exam-most-tested-questions-and-verified-solutionsget-it-100-accurate-2026-flash-cards/?new 4/34
