Bundle for AFSB 151 Exams Compilation | Verified | Guaranteed Success

In the next step of the bond prequalification process, once the producer has compiled the contractor's financial documents showing significant liquidity, - The producer may facilitate underwriter interviews to help determine the contractor's experience in meeting past contractual obligations P...

Which one of the following is the producer's ultimate objective in the contractor-producerunderwriter relationship? - To be as responsive as possible to the contractor's needs while presenting business that is reasonably consistent with the surety's underwriting standards Which one of the follo...

Which one of the following statements regarding fidelity bond claims is true? - By promptly investigating a bond loss, an insurer may discover that it has recourse against persons or entities whose conduct caused or contributed to the loss, but is not relevant to the proof of loss In proper handl...

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? - Mu...

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 automa...

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 n...

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 penalt...