Afsb 151 stuvia Study guides, Class notes & Summaries

AFSB 151 Final Exam Questions & Answers 100% CorrectAFSB 151 Final Exam Questions & Answers 100% CorrectAFSB 151 Final Exam Questions & Answers 100% CorrectAFSB 151 Final Exam Questions & Answers 100% Correct A surety bond is a written document in which one party guarantees a second party's - ANSWERPerformance 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...

AFSB 151 Practice Exam with Complete Questions & Answers| 100% Verified AFSB 151 Practice Exam with Complete Questions & Answers| 100% Verified AFSB 151 Practice Exam with Complete Questions & Answers| 100% Verified AFSB 151 Practice Exam with Complete Questions & Answers| 100% Verified 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? - ANSWER Statutes of frauds Following ...

Which one of the following characteristics is unique under American personal suretyship compared with corporate suretyship? - ANSWERSSureties 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 - ANSWERSUp 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 perf...

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? - ANSWERSStatutes of frauds Following the Civil War, the growing number and complexity of financial/commercial relationships led to the need for - ANSWERSCommercial 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 In...

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 - ANSWERSTreaty reinsurance A surety's liability for a surety bond can only cease to exist when the underlying obligation/agreement has - ANSWERSbeen performed as specified in t...

AFSB 151 Practice Exam | 135 Questions| Correct Answers| 100% Verified AFSB 151 Practice Exam | 135 Questions| Correct Answers| 100% Verified AFSB 151 Practice Exam | 135 Questions| Correct Answers| 100% Verified AFSB 151 Practice Exam | 135 Questions| Correct Answers| 100% Verified AFSB 151 Practice Exam | 135 Questions| Correct Answers| 100% Verified A type of reinsurance transaction that involves an agreement between the primary insurer and the reinsurer specifying how to transfer risks, ...

AFSB 151 Test Questions & Answers 100% CorrectAFSB 151 Test Questions & Answers 100% CorrectAFSB 151 Test Questions & Answers 100% CorrectAFSB 151 Test Questions & Answers 100% Correct fidelity bonds - ANSWER bonds that historically have guaranteed the performance of obligations that do not arise from contracts performance bonds - ANSWER a contract bond guaranteeing that a contractor's work will be completed according to plans and specifications payment bond - ANSWER a contract bond ...

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...

AFSB 151 Practice Exam | 135 Questions & Answers 100% Correct AFSB 151 Practice Exam | 135 Questions & Answers 100% Correct AFSB 151 Practice Exam | 135 Questions & Answers 100% Correct AFSB 151 Practice Exam | 135 Questions & Answers 100% Correct AFSB 151 Practice Exam | 135 Questions & Answers 100% Correct 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...

Which one of the following characteristics is unique under American personal suretyship compared with corporate suretyship? - ANSWER 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 - ANSWER 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 perf...