AFSB 152 Assignment 10 Exam with all Correct & 100% Verified Answers |
Latest Version |Already Graded A+
1. Surety claims representative Sheila is busy
setting accurate case loss reserves. She knows Contract balances
that case loss reserves can be established as
gross or net. Which one of the following items
will be included in Sheila's calculation to change
gross case loss reserves to net case loss
reserves?
2. Which one of these parties is protected by a
perfor-mance bond?
The named obligee
3. Which one of the following best describes what
oc-
The surety is substituted
for
curs when the surety successfully asserts its rights of the obligee.
subrogation?
4. Which one of these are costs associated with operat- General and
administrative
ing an organization's office? expenses
5. Which one of the following is generally not a covered Insurance premiums
expense under a Miller Act labor and material
pay-ment bond?
6. Which one of the following is a defense for a
surety to the obligee's claim under a bid bond? The principal discovers
a mathematical error in
the bid it has provided to
7. Which one of the following best describes the the oblig-ee.
dis-advantages to the surety of the owner
completion option? The surety has no
con-trol over the
selection of
the completion contractor,
1/
11
, AFSB 152 Assignment 10 Exam with all Correct & 100% Verified Answers |
Latest Version |Already Graded A+
its price to complete the work, or the terms of the comple-tion
contract.
2/
11
Latest Version |Already Graded A+
1. Surety claims representative Sheila is busy
setting accurate case loss reserves. She knows Contract balances
that case loss reserves can be established as
gross or net. Which one of the following items
will be included in Sheila's calculation to change
gross case loss reserves to net case loss
reserves?
2. Which one of these parties is protected by a
perfor-mance bond?
The named obligee
3. Which one of the following best describes what
oc-
The surety is substituted
for
curs when the surety successfully asserts its rights of the obligee.
subrogation?
4. Which one of these are costs associated with operat- General and
administrative
ing an organization's office? expenses
5. Which one of the following is generally not a covered Insurance premiums
expense under a Miller Act labor and material
pay-ment bond?
6. Which one of the following is a defense for a
surety to the obligee's claim under a bid bond? The principal discovers
a mathematical error in
the bid it has provided to
7. Which one of the following best describes the the oblig-ee.
dis-advantages to the surety of the owner
completion option? The surety has no
con-trol over the
selection of
the completion contractor,
1/
11
, AFSB 152 Assignment 10 Exam with all Correct & 100% Verified Answers |
Latest Version |Already Graded A+
its price to complete the work, or the terms of the comple-tion
contract.
2/
11
