Florida Claims Adjuster Exam (New 2026/
2027 Update) Questions & Answers {Grade
A} 100% Correct (Verified Solutions)
Guarantees the performance between the principle and the obligee:
A. Principal
B. Obligee
C. Surety
D. All of the Above - Correct answer C. Surety
aka Bonding Company; Surety is a "guarantee"
This bond guarantees indemnification to the obligee for any losses resulting from the
principal's failure to complete the contract work in accord with specifications:
A. Performance
B. Bid
C. Court
D. Maintenance - Correct answer A. Performance
Considered a contract bond
,One who undertakes to perform, to fulfill a contract or to meet an obligation is known
as:
A. Principal
B. Obligee
C. Surety
D. All of the Above - Correct answer A. Principal
Obligee - needs guarantee principal will perform
Surety - guarantees performance between principal and obligee
This form of bond is required to accompany a bid for a contract which will require that
the successful bidder furnish further bond if awarded the job:
A. Bid
B. Performance
C. Court
D. Maintenance - Correct answer A. Bid
May act as part of the bonding party and agrees to reimburse the surety for any loss it
may suffer from having bonded the principal:
,A. Indemnitor
B. Surety
C. Obligee
D. None of the Above - Correct answer A. Indemnitor
Known as "fourth party", may put up collateral
Which of the following are parties to a Bond?
A. Principal
B. Obligee
C. Surety
D. All of the Above - Correct answer D. All of the Above
Principal - undertakes to perform/fulfill
Obligee - guaranteed principal will perform
Surety - guarantees performance
*Indemnitor - may act as additional party; agrees to reimburse surety for any loss
This type of bond covers streets, sidealks, sewers, etc.:
A. Sidewalk
, B. Subdivision
C. Supply
D. None of the Above - Correct answer B. Subdivision
Falls under Maintenance Bond
When a person has lost stock certificates, bonds or similar instruments, a bond is
generally required by the issuing company to reissue the document. This is known as
a:
A. Public Official Bond
B. Lost Instrument Bond
C. Public Instrument Bond
D. None of the Above - Correct answer B. Lost Instrument Bond
Also guarantees to save issuer from any loss growing out of lost instrument
A __________ is a selected group of hospitals and medical practitioners in a given area
who have joined together in an effort to reduce medical costs.
A. HMO
B. Major Medical Insurance
2027 Update) Questions & Answers {Grade
A} 100% Correct (Verified Solutions)
Guarantees the performance between the principle and the obligee:
A. Principal
B. Obligee
C. Surety
D. All of the Above - Correct answer C. Surety
aka Bonding Company; Surety is a "guarantee"
This bond guarantees indemnification to the obligee for any losses resulting from the
principal's failure to complete the contract work in accord with specifications:
A. Performance
B. Bid
C. Court
D. Maintenance - Correct answer A. Performance
Considered a contract bond
,One who undertakes to perform, to fulfill a contract or to meet an obligation is known
as:
A. Principal
B. Obligee
C. Surety
D. All of the Above - Correct answer A. Principal
Obligee - needs guarantee principal will perform
Surety - guarantees performance between principal and obligee
This form of bond is required to accompany a bid for a contract which will require that
the successful bidder furnish further bond if awarded the job:
A. Bid
B. Performance
C. Court
D. Maintenance - Correct answer A. Bid
May act as part of the bonding party and agrees to reimburse the surety for any loss it
may suffer from having bonded the principal:
,A. Indemnitor
B. Surety
C. Obligee
D. None of the Above - Correct answer A. Indemnitor
Known as "fourth party", may put up collateral
Which of the following are parties to a Bond?
A. Principal
B. Obligee
C. Surety
D. All of the Above - Correct answer D. All of the Above
Principal - undertakes to perform/fulfill
Obligee - guaranteed principal will perform
Surety - guarantees performance
*Indemnitor - may act as additional party; agrees to reimburse surety for any loss
This type of bond covers streets, sidealks, sewers, etc.:
A. Sidewalk
, B. Subdivision
C. Supply
D. None of the Above - Correct answer B. Subdivision
Falls under Maintenance Bond
When a person has lost stock certificates, bonds or similar instruments, a bond is
generally required by the issuing company to reissue the document. This is known as
a:
A. Public Official Bond
B. Lost Instrument Bond
C. Public Instrument Bond
D. None of the Above - Correct answer B. Lost Instrument Bond
Also guarantees to save issuer from any loss growing out of lost instrument
A __________ is a selected group of hospitals and medical practitioners in a given area
who have joined together in an effort to reduce medical costs.
A. HMO
B. Major Medical Insurance
