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FLORIDA BAIL BONDS STATE EXAM
QUESTIONS WITH 100% CORRECT
ANSWERS
1. What percentage of the bond payment is recoverable through
remission after 2 years? - CORRECT ANSWER -50%
2. Breach - CORRECT ANSWER -Failure to perform as agreed
3. Jurisdiction - CORRECT ANSWER -The ability of the court to
hear a case
4. Vacate - CORRECT ANSWER -Set Aside / Render void
5. Exonerate - CORRECT ANSWER -Release from duty or
obligation
6. Liability - CORRECT ANSWER -Obligation that must be
performed
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7. Adjudicate - CORRECT ANSWER -to decide a matter
based on evidence
8. Disposition - CORRECT ANSWER -Final settlement
9. Judgement - CORRECT ANSWER -Court order for payment
10. What types of collateral may be accepted on bonds of over
$50000? - CORRECT ANSWER -Stock in closed corporations
Patents, copyrights or trademarks
Additionally, collateral must also always include a
promissory note, indemnity agreement &/or a real property
mortgage
11. In whose name must the collateral be taken? - CORRECT
ANSWER
-the suretys name, with the bondsman as the fiduciary
How must cash collateral be held? - CORRECT ANSWER -Under
$5000 must be held in an account separate from any other funds
belonging to the surety company or the bondsman.
OVER $5000 must be held by the surety
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12. What is the term (length) of an indemnity contract? -
CORRECT ANSWER -Indefinite
13. When does an Indemnity agreement become cancellable? -
CORRECT ANSWER -When the conditions of the bond are
fulfilled
14. What information must appear on a collateral receipt? -
CORRECT ANSWER -- The date of the receipt
- The name of the Principal
- The numbers of the Powers attached to the bond
- The name of the indemnitor
- The name of who will hold the collateral
15. Upon proof of fulfillment of the obligation of the bond, what
must the bondsman do with the collateral? - CORRECT
ANSWER - The collateral must be returned to the Indemnitor
or the person to whom it is assigned
FLORIDA BAIL BONDS STATE EXAM
QUESTIONS WITH 100% CORRECT
ANSWERS
1. What percentage of the bond payment is recoverable through
remission after 2 years? - CORRECT ANSWER -50%
2. Breach - CORRECT ANSWER -Failure to perform as agreed
3. Jurisdiction - CORRECT ANSWER -The ability of the court to
hear a case
4. Vacate - CORRECT ANSWER -Set Aside / Render void
5. Exonerate - CORRECT ANSWER -Release from duty or
obligation
6. Liability - CORRECT ANSWER -Obligation that must be
performed
, Page | 2
7. Adjudicate - CORRECT ANSWER -to decide a matter
based on evidence
8. Disposition - CORRECT ANSWER -Final settlement
9. Judgement - CORRECT ANSWER -Court order for payment
10. What types of collateral may be accepted on bonds of over
$50000? - CORRECT ANSWER -Stock in closed corporations
Patents, copyrights or trademarks
Additionally, collateral must also always include a
promissory note, indemnity agreement &/or a real property
mortgage
11. In whose name must the collateral be taken? - CORRECT
ANSWER
-the suretys name, with the bondsman as the fiduciary
How must cash collateral be held? - CORRECT ANSWER -Under
$5000 must be held in an account separate from any other funds
belonging to the surety company or the bondsman.
OVER $5000 must be held by the surety
, Page | 3
12. What is the term (length) of an indemnity contract? -
CORRECT ANSWER -Indefinite
13. When does an Indemnity agreement become cancellable? -
CORRECT ANSWER -When the conditions of the bond are
fulfilled
14. What information must appear on a collateral receipt? -
CORRECT ANSWER -- The date of the receipt
- The name of the Principal
- The numbers of the Powers attached to the bond
- The name of the indemnitor
- The name of who will hold the collateral
15. Upon proof of fulfillment of the obligation of the bond, what
must the bondsman do with the collateral? - CORRECT
ANSWER - The collateral must be returned to the Indemnitor
or the person to whom it is assigned
