NC Bailbond State Exam Questions With 100% Verified Solutions

NC Bailbond State Exam Questions With 100% Verified Solutions How many days between a forfeiture notice and final judgement? - ANSWER -150 days How many days does the school board attorney have to object to a bondsman's motion to set aside a forfeiture? - ANSWER -20 days A bond forfeiture may be set aside for all of the following reasons: - ANSWER -Death of the defendant -FTA set aside and OFA recalled -The defendant was surrendered in a county other than the one he was bonded from Bondsmen are allowed to charge a: - ANSWER -premium How many days does a bondsman have to notify the DOI that he has moved his business or residence? - ANSWER -10 business days A bondsman must give the person who gives him collateral: - ANSWER -a written receipt describing the collateral What are the requirements on a bond premium receipt: - ANSWER -the total bond amount -the amount of premium received -the defendant's name A bondsman may be paid over 15% of the bond if: - ANSWER -the bond amount if reduced after the original bond is written All contracts and forms used by an NC bondsman must be: - ANSWER -approved by the DOI prior to use Who is the NC DOI commissioner? - ANSWER -Mike Causey All contracts and forms used by an NC bondsman must include: - ANSWER -form number -bondsman's license number -NCDOI approval A bondsman must notify the NCDOI of his bankruptcy within how many days? - ANSWER -3 business days If a bondsman fails to notify NCDOI of bankruptcy within the statutorily defined time, his license may be suspended for a maximum of: - ANSWER -3 years A defendant's bond can be revoked if they: - ANSWER -do not fulfill an obligation of the court A bondsman may: - ANSWER -surrender a defendant after a breach of the undertaking As long as he has copy of the bail bond, a bondsman may surrender a defendant to the sheriff: - ANSWER -any time A surety may surrender a defendant with: - ANSWER -the appearance bond A bondsman may surrender a defendant pre-breach: - ANSWER -at the county from which the defendant was originally bonded or where his case will be tried A bondman may surrender a defendant post-breach: - ANSWER -in the county where the defendant was originally bonded, is to be tried, or is incarcerated A bondsman's _______________ responsibility relates to money or funds they are entrusted to that bondsman's care: - ANSWER -fiduciary What is the minimum bond premium that a bondsman may charge? - ANSWER -no minimum What is the maximum bond a bondsman may charge? - ANSWER -15% What type of bondsman must file a monthly report with the DOI? - ANSWER - professional bondsman A bondsman must maintain records of his bail bond transactions after final entry for: - ANSWER -36 months A monthly bail bond report must list all the bonds: - ANSWER -the professional bondsman is still libel for If a bail bondsman makes payment arrangements for the balance of the premium, the details are spelled out in a: - ANSWER -Memorandum of Agreement A bondman may sell collateral in order to pay: - ANSWER -a forfeiture If the bondman's liability is reduced, he must: - ANSWER -reduce the collateral to the new liability amount A bondsman must deposit cash collateral in a trust account within how many days? - ANSWER -2 banking days Collateral must be returned within ______ after the bond is terminated, if the defendant is returned to jail by a bondsman prior to the disposition of the bond. - ANSWER -72 hours After final termination of bond liability, a bondsman must return collateral within: - ANSWER -15 days If a bondsman knowingly and willfully fails to return collateral with a value that exceeds _______, that bondsman is guilty of a Class I Felony. - ANSWER -$1500 A surety bondsman: - ANSWER -is NOT a surety Indemnity agreements must: - ANSWER -be listed the appearance bond affidavit A professional bondman's largest single bond cannot be large than: - ANSWER -1/4 of their security deposit What type of bondsman is legally obligated to the state to pay a forfeiture? - ANSWER -professional bondsman If a bond forfeits, who has the greatest monetary incentive to return the defendant to jail? - ANSWER -the surety A bondsman must make his business records available to the Commissioner of Insurance: - ANSWER -at any time, as often as deemed appropriate by the Commissioner What is the minimum period of time that the DOI can revoke a license? - ANSWER -no minimum What is the maximum period of time that the DOI can revoke a license? - ANSWER -no maximum Who all must be notified if a defendant fails to appear in court: - ANSWER -surety insurance company