AFSB 153 COMPREHENSIVE EXAM SCRIPT
2026 FULL QUESTIONS AND CORRECT
ANSWERS
◉Which one of these is not a determination that may be made based
on an evaluation of underwriting information?
A: The applicant's deductibles
B: The premium to be charged
C: Risks an insurer will avoid
D: Risks an insurer will assume. Answer: A
◉Which one of the following provides a determination of the final
correct rate of duty?
A: The Harmonized Tariff System
B: The Treasury Department
C: Customs and Border Protection
D: The United States International Trade Commission. Answer: C
,◉Insurance company qualifying bonds essentially guarantee that
the insurer will
A: Remain solvent.
B: Maintain its A.M. Best rating.
C: Properly set claim reserves.
D: Pay all claims.. Answer: A
◉A local civic club carries $10,000 per occurrence coverage for loss
due to employee theft under the ISO Commercial Crime Coverage
Form. The club president reported to the insurance carrier there
were seven separate acts of theft by the same two employees acting
in collusion over the course of the policy year. The losses totaled
$50,000. How much should the club's insurer pay?
A: The insurer should pay $10,000 for one occurrence, despite the
number of employees.
B: The insurer should pay $10,000 per employee or $20,000.
C: The insurer should pay $50,000, the total loss for both employees.
D: The insurer should pay $70,000, the total number of acts times
the per occurrence limit.. Answer: A
, ◉Grayville Aviation Authority is requiring all airlines using the
newly-constructed Grayville Municipal Airport to provide which one
of the following bonds?
A: Financial Guarantee Bond
B: Insurance Program Deductible Bond
C: Concessionaire Bond
D: Public Property Lease Bond. Answer: D
◉Which one of these statements about a fiduciary bond surety is
accurate?
A: The surety is liable for damages caused by negligent acts.
B: Courts are never involved in the determination of a fiduciary's
liability.
C: In most jurisdictions, the surety is liable for the fiduciary's
wrongful acts committed before the bond was written that reduced
the value of the estate.
D: The surety is liable for damages caused by any breach of the
principal's fiduciary duty except negligent acts.. Answer: A
2026 FULL QUESTIONS AND CORRECT
ANSWERS
◉Which one of these is not a determination that may be made based
on an evaluation of underwriting information?
A: The applicant's deductibles
B: The premium to be charged
C: Risks an insurer will avoid
D: Risks an insurer will assume. Answer: A
◉Which one of the following provides a determination of the final
correct rate of duty?
A: The Harmonized Tariff System
B: The Treasury Department
C: Customs and Border Protection
D: The United States International Trade Commission. Answer: C
,◉Insurance company qualifying bonds essentially guarantee that
the insurer will
A: Remain solvent.
B: Maintain its A.M. Best rating.
C: Properly set claim reserves.
D: Pay all claims.. Answer: A
◉A local civic club carries $10,000 per occurrence coverage for loss
due to employee theft under the ISO Commercial Crime Coverage
Form. The club president reported to the insurance carrier there
were seven separate acts of theft by the same two employees acting
in collusion over the course of the policy year. The losses totaled
$50,000. How much should the club's insurer pay?
A: The insurer should pay $10,000 for one occurrence, despite the
number of employees.
B: The insurer should pay $10,000 per employee or $20,000.
C: The insurer should pay $50,000, the total loss for both employees.
D: The insurer should pay $70,000, the total number of acts times
the per occurrence limit.. Answer: A
, ◉Grayville Aviation Authority is requiring all airlines using the
newly-constructed Grayville Municipal Airport to provide which one
of the following bonds?
A: Financial Guarantee Bond
B: Insurance Program Deductible Bond
C: Concessionaire Bond
D: Public Property Lease Bond. Answer: D
◉Which one of these statements about a fiduciary bond surety is
accurate?
A: The surety is liable for damages caused by negligent acts.
B: Courts are never involved in the determination of a fiduciary's
liability.
C: In most jurisdictions, the surety is liable for the fiduciary's
wrongful acts committed before the bond was written that reduced
the value of the estate.
D: The surety is liable for damages caused by any breach of the
principal's fiduciary duty except negligent acts.. Answer: A
