Afsb Study guides, Class notes & Summaries

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 ...

AFSB 151 Final Exam Questions With Complete Solutions. 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 p...

Anthony is the surety producer for Coyle Construction (CC). CC has a pre-set annual surety credit line of $5 million/$30 million. About 3 months into the fiscal year, the contractor is bidding on an $8 million job and needs a bid bond. Which one of the following correctly describes Anthony's responsibility as the surety producer? Select one: A. Anthony should arrange a back-up surety with adequate capacity because CC appears to be outgrowing the capacity of the current surety. B. Anthony sho...

Lansing Construction Company completed major jobs including road grading, bridges, and base and paving work. Which one of the following types of contractors is Lansing? · Heavy and highway construction · General Engineering contractor · General Building contractor · Design/build contractor - correct answer Heavy and highway construction The project owner for a new shopping plaza being built in Highville is the Highville Municipal Property Company. The role of the project owner at the ...

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AFSB 152 - The Institutes Practice Exam Questions and Answers 2023 Lansing Construction Company completed major jobs including road grading, bridges, and base and paving work. Which one of the following types of contractors is Lansing? • Heavy and highway construction • General Engineering contractor • General Building contractor • Design/build contractor - Correct Answer-Heavy and highway construction The project owner for a new shopping plaza being built in Highville is the Hig...

AFSB 153 Sample Exam Questions with 100% Correct Answers | Latest Update 2024 | Verified

Which one of the following characteristics is unique under American personal suretyship compared with corporate suretyship? - Sureties were protected by laws that were favorable to them Except in the case of a forfeiture bond, if the principal defaults the surety will pay - Up to the bond penalty, but no more than the obligee's actual loss amount CB Construction entered into a construction contract with Lee Properties. The contract required that CB Construction obtain a performance bond, ...