FLORIDA BAIL BONDS STATE EXAM
QUESTIONS WITH 100% COMPLETE
SOLUTIONS| LATEST UPDATE
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
In whos 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
What is the term (length) of an indemnity contract? - correct answer-Indefinite
When does an Indemnity agreement become cancellable? - correct answer-When the
conditions of the bond are fulfilled
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
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
How much time does the bondsman have to return collateral after the obligation of the
bond is fulfilled? - correct answer-21 days
, If a bondsman is charged with a felony, what happens to their license? - correct answer-
It is suspended until the bondsmans case is adjucated in their favor
What 4 types of dicsipline can the department of financial services impose on a
licensee? - correct answer-Permanent Revokation
Suspension for up to 2 years
Probation for up to 2 years
A fine
What may be required of a bondsman before a suspended license can be reinstated? -
correct answer-The bondsman may be required to retake the basic certification course
and/or the correspondence course
Soliciting business in a court or jail is a ... - correct answer-Misdemeanor
Employing a convicted felon is a .... - correct answer-felony
Recommending an atty to a defendant is a... - correct answer-midemeanor
Making a false statement on the license application is a... - correct answer-
Departmentally disciplined
Being incompetent or dishonest in dealings is... - correct answer-Departmentally
disciplined
Failing to file required reports is a... - correct answer-Felony
Failing to return collateral is a... - correct answer-Felony & Departmentally disciplined
Withholding funds from the Surety is a ... - correct answer-Felony
Signing blank bonds is a... - correct answer-Misdemeanor
QUESTIONS WITH 100% COMPLETE
SOLUTIONS| LATEST UPDATE
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
In whos 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
What is the term (length) of an indemnity contract? - correct answer-Indefinite
When does an Indemnity agreement become cancellable? - correct answer-When the
conditions of the bond are fulfilled
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
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
How much time does the bondsman have to return collateral after the obligation of the
bond is fulfilled? - correct answer-21 days
, If a bondsman is charged with a felony, what happens to their license? - correct answer-
It is suspended until the bondsmans case is adjucated in their favor
What 4 types of dicsipline can the department of financial services impose on a
licensee? - correct answer-Permanent Revokation
Suspension for up to 2 years
Probation for up to 2 years
A fine
What may be required of a bondsman before a suspended license can be reinstated? -
correct answer-The bondsman may be required to retake the basic certification course
and/or the correspondence course
Soliciting business in a court or jail is a ... - correct answer-Misdemeanor
Employing a convicted felon is a .... - correct answer-felony
Recommending an atty to a defendant is a... - correct answer-midemeanor
Making a false statement on the license application is a... - correct answer-
Departmentally disciplined
Being incompetent or dishonest in dealings is... - correct answer-Departmentally
disciplined
Failing to file required reports is a... - correct answer-Felony
Failing to return collateral is a... - correct answer-Felony & Departmentally disciplined
Withholding funds from the Surety is a ... - correct answer-Felony
Signing blank bonds is a... - correct answer-Misdemeanor
