FL Bail Bonds Exam Questions With Verified Answers.

FL Bail Bonds Exam Questions With Verified Answers. Which two Florida Statutes govern the bail bond industry? - answerChapter 648 and 903 Which Governmental agency or department governs the bail bond industry in the state of Florida? - answerFlorida Department of Financial Services The Records of all Bail Bond written in this state must be made available within how many hours after being requested by the state? - answer48 hours What types of action can the department take against an agents bail bond license? ( 4 types) - answerFine-Probation-suspension-Revoke What is a daily bond register? - answerThe power registry-Daily log of powers used- Itemized list to count What must be held in an individual file or envelope for each principal for whom a bail bond has been executed? - answerPower- Appearance Bond-premium receipt-Collateral receipt- promissory note-indemnity agreement-disclosure notice-Application/Contract-Discharge What is considered to be reasonable business hours - answer8 hours a day 5 days a week (Between the hours of 8am and 6pm) Explain what is acceptable as it pertains to the branch office of a bail agency's entrance and sign? - answerBusiness name and address you have filed with the department. How and whom must an agent notify if there has been a change in address, telephone number or name and what is the time frame allowed? - answerThe Department-The Sheriff-The surety within 10 days. What is a build up fund? Aka BUF - answerA joint account between the surety company and agency to protect the Surety Company How is a build up fund account opened or titled? - answerOpened jointly in the name of the agent or agency and the insurer or in trust for the agent or agency by the insurer. Interest accrued on a build up fund account is credited to whom? - answerThe Bail Bond agent Build up funds are due payable to the agent how long after final discharge? - answer6 months