AFSB 152 ACTUAL TEST QUESTIONS WITH
COMPLETE ANSWER KEY
●● Surety
Answer: The party (usually an insurer) to a surety bond that guarantees
to the obligee that the principal will fulfill an obligation or perform as
required by the underlying contract, permit, or law.
●● Obligee
Answer: The party to a surety bond that receives the surety's guarantee
that the principal will fulfill an obligation or perform as promised.
●● Principal
Answer: The party to a surety bond whose obligation or performance the
surety guarantees.
●● Suretyship
Answer: The obligation of one entity to answer for the debt, default, or
miscarriage of performance of duties by another entity.
●● Contract bond
Answer: A surety bond guaranteeing the fulfillment of obligations under
construction contracts or other types of contracts.
,●● Bid bond
Answer: A contract bond guaranteeing that a contractor bidding on a
construction or supply contract will enter into the contract and will
provide a performance bond if the bid is accepted.
●● Design/build
Answer: A construction method that offers "one-stop shopping" to
property owners for design and construction services.
●● Subcontractor (specialty contractor)
Answer: An independent contractor who specializes in a particular kind
of work and who is engaged by a general contractor to perform a
particular portion of the general contractor's contract.
●● Mobilization
Answer: The process before construction begins that involves initial
activities to facilitate a construction process, such as moving equipment
and a field office onto the job site and installing temporary utilities.
●● Critical path method (CPM)
Answer: A process that identifies every major element of the
construction project, as well as a time estimate for each element, and
assembles these elements into one master schedule.
, ●● Punch list
Answer: A list of small finishing tasks that must be accomplished for
completion.
●● General building contractor
Answer: An independent contractor who obtains the primary contract for
a project and either completes all the work or subcontracts portions (or
all) of the work to other independent contractors who specialize in such
work.
●● General engineering contractor
Answer: A contractor that constructs locks and dams, power plants, large
bridges, sewage and water treatment plants, or similar projects for public
and private owners.
●● Heavy and highway construction
Answer: A type of construction used for highways, bridges, dams, roads,
railroad beds, and similar projects.
●● Material supplier
Answer: Manufacturer or distributor that sells materials and equipment.
●● Change order
COMPLETE ANSWER KEY
●● Surety
Answer: The party (usually an insurer) to a surety bond that guarantees
to the obligee that the principal will fulfill an obligation or perform as
required by the underlying contract, permit, or law.
●● Obligee
Answer: The party to a surety bond that receives the surety's guarantee
that the principal will fulfill an obligation or perform as promised.
●● Principal
Answer: The party to a surety bond whose obligation or performance the
surety guarantees.
●● Suretyship
Answer: The obligation of one entity to answer for the debt, default, or
miscarriage of performance of duties by another entity.
●● Contract bond
Answer: A surety bond guaranteeing the fulfillment of obligations under
construction contracts or other types of contracts.
,●● Bid bond
Answer: A contract bond guaranteeing that a contractor bidding on a
construction or supply contract will enter into the contract and will
provide a performance bond if the bid is accepted.
●● Design/build
Answer: A construction method that offers "one-stop shopping" to
property owners for design and construction services.
●● Subcontractor (specialty contractor)
Answer: An independent contractor who specializes in a particular kind
of work and who is engaged by a general contractor to perform a
particular portion of the general contractor's contract.
●● Mobilization
Answer: The process before construction begins that involves initial
activities to facilitate a construction process, such as moving equipment
and a field office onto the job site and installing temporary utilities.
●● Critical path method (CPM)
Answer: A process that identifies every major element of the
construction project, as well as a time estimate for each element, and
assembles these elements into one master schedule.
, ●● Punch list
Answer: A list of small finishing tasks that must be accomplished for
completion.
●● General building contractor
Answer: An independent contractor who obtains the primary contract for
a project and either completes all the work or subcontracts portions (or
all) of the work to other independent contractors who specialize in such
work.
●● General engineering contractor
Answer: A contractor that constructs locks and dams, power plants, large
bridges, sewage and water treatment plants, or similar projects for public
and private owners.
●● Heavy and highway construction
Answer: A type of construction used for highways, bridges, dams, roads,
railroad beds, and similar projects.
●● Material supplier
Answer: Manufacturer or distributor that sells materials and equipment.
●● Change order
