AFSB

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Examen

AFSB 153 Sample Exam 2023 with 100% correct answers
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20

octubre 2023

2023/2024

A+
The surety relationship includes all of the following parties, EXCEPT: a. Surety b. Fiduciary c. Obligee d. Principal - correct answer b. Fiduciary All of the following are recognized bond terms, EXCEPT: a. Noncancelable (open term) b. Definite term c. Continuous term d. Revolving term - correct answer d. Revolving term In addition to assisting bond applicants to complete applications and indemnity agreements, some surety producers a. Investigate commercial surety bond losses. b....
YANCHY
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Examen

AFSB 151 Final Exam 2023 with 100% correct answers
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20

octubre 2023

2023/2024

A+
A surety bond is a written document in which one party guarantees a second party's - correct answer Performance to a third party for the second party's failure to fulfill an obligation. Which one of the these groups, for the most part, serves the market for fidelity and surety bonds in the United States? - correct answer Multiline property-casualty insurers Sureties use what written document to authorize a producer to act as the surety's agent in bond production? - correct answer A powe...
YANCHY
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Examen

AFSB 153 - Practice Exam 2023 with 100% correct answers
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14

octubre 2023

2023/2024

A+
Which one of these is a reason that sureties face significant hazards on reclamation, mining, and removal bonds? - correct answer long-tail liability Which one of these statements about handling reclamation, mining, and removal bond claims is true? - correct answer Courts seldom rule in favor of sureties. Which one of these is the second phase of the reclamation process? - correct answer Revegetation Which one of these statements about surface or strip mining bonds is true? - correct an...
YANCHY
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Examen

AFSB 152: Simulated Exam 2023 with 100% correct answers
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8

octubre 2023

2023/2024

A+
Which one of the following is an advantage of the takeover option? - correct answer The obligee may forgive a delay or liquidated damages. The quality of the plans and specifications can greatly influence three tasks that can determine whether the contractor can successfully perform the work. The three tasks are... - correct answer Estimating, planning, and managing the work to be performed. Eastown Contracting's balance sheet shows $100,000 in cash, $300,000 in accounts receivable, $50,0...
YANCHY
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Examen

AFSB 153 - Practice Exam 2023 with 100% correct answers
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7

octubre 2023

2023/2024

A+
Which one of these is a reason that sureties face significant hazards on reclamation, mining, and removal bonds? - correct answer long-tail liability Which one of these statements about handling reclamation, mining, and removal bond claims is true? - correct answer Courts seldom rule in favor of sureties. Which one of these is the second phase of the reclamation process? - correct answer Revegetation Which one of these statements about surface or strip mining bonds is true? - correct an...
YANCHY
$17.99 Más información

Examen

AFSB 151 Final Exam with complete questions and answers
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20

mayo 2024

2023/2024

A+
A surety bond is a written document in which one party guarantees a second party's Performance to a third party for the second party's failure to fulfill an obligation. Which one of the these groups, for the most part, serves the market for fidelity and surety bonds in the United States? Multiline property-casualty insurers Sureties use what written document to authorize a producer to act as the surety's agent in bond production? A power of attorney While suretyship and banking both use...
kydocuments
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Examen

AFSB 151 Practice Exams with complete questions and answers
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20

mayo 2024

2023/2024

A+
Any promise to answer for another person's debts or defaults, including the promise that a surety makes to the obligee under a bond, derives from which one of these? Statutes of frauds Following the Civil War, the growing number and complexity of financial/commercial relationships led to the need for Commercial suretyship. In accordance with a contract to build a county shed for the Village of Malcom, Raymone Construction purchases a contract surety bond from SureRite Insurance. Identify t...
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Examen

AFSB 151 Practice Exam with complete questions and answers
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19

mayo 2024

2023/2024

A+
Large accounts should be monitored to ensure that when companies add subsidiaries or affiliates or are acquired by new owners, the new parties sign a new indemnity agreement. Otherwise, if a claim arises, the surety might have only which one of the following to fall back on? Select one: A. The bond form B. The three-party surety agreement. C. Its common-law rights D. An obsolete indemnity agreement C. Its common-law rights The Barker Group hired Meyer Construction to build a new high-ris...
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Examen

AFSB 151 Practice Exam Q's with complete questions and answers
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15

mayo 2024

2023/2024

A+
A type of reinsurance transaction that involves an agreement between the primary insurer and the reinsurer specifying how to transfer risks, that defines the eligible risks in terms of lines and classes of business, that specifies the parties' obligations, and for which eligible risks are automatically reinsured, is Treaty reinsurance A surety's liability for a surety bond can only cease to exist when the underlying obligation/agreement has been performed as specified in the contract or w...
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