AFSB 151 Exam Bundle Pack with Complete Solutions | Latest Update

AFSB 153 Sample Exam with correct Answers 2024 The surety relationship includes all of the following parties, EXCEPT: a. Surety b. Fiduciary c. Obligee d. Principal - ANS ️️ b. Fiduciary All of the following are recognized bond terms, EXCEPT: a. Noncancelable (open term) b. Definite term...

AFSB 151 Practice Exam Questions & Answers Which one of the following characteristics is unique under American personal suretyship compared with corporate suretyship? - ANS ️️ Sureties were protected by laws that were favorable to them Except in the case of a forfeiture bond, if the principa...

AFSB 151 - Principles of Suretyship (Ch. 3: Bond Production) Exam 2023 In the next step of the bond prequalification process, once the producer has compiled the contractor's financial documents showing significant liquidity, - ANS ️️ The producer may facilitate underwriter interviews to hel...

AFSB 152 Practice Exam Part A Questions and Answers The two main types of construction are heavy and highway construction and - ANS ️️ The general building trades Dramatic increase in project size, taking work in new geographical areas, moving into new types of construction, and lack of mana...

AFSB 151 Practice Exams Questions with Answers 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? - ANS ️️ Statutes of frauds Following the Civil War, the growing number and co...

(AFSB 151) Chapter 1 Quiz Questions with correct Answers A basic type of bond that involves all situations in which sureties guarantee performance of obligations that generally do not arise from contracts is - ANS ️️ commercial surety bonds bonds for which the laws specify the bond condition...

AFSB 151 - Chapter 4 Exam with complete solutions Line Underwriter - ANS ️️ Underwriter who is responsible for implementing the steps in the underwriting process Staff Underwriter - ANS ️️ Underwriter who is usually located in the home office who assists underwriting management with maki...

AFSB 151 - Principles of Suretyship, Terms Questions and Answers Surety bond - ANS ️️ A written contract that expresses one party's promise to answer for another party's failure to do something as promised. Principal - ANS ️️ The party to a surety bond whose obligation or performance ...

AFSB 151 - Assignment 3 (Bond Production) Exam Questions and Answers Percentage of Completion Method - ANS ️️ Reports revenues and expenses in terms of percentage of work completed to date Agent - ANS ️️ represents surety in a contractual agreement and executes bonds in accordance with ...

AFSB 151 Study Guide Latest Updated 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 followi...

AFSB 151 FLEX EXAM QUESTIONS AND ANSWERS 2024 Which one of the following statements regarding fidelity bond claims is true? - ANS ️️ 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...

AFSB 151 4: Commercial Surety and Fidelity Exam Questions and Answers line underwriter - ANS ️️ Underwriter who is primarily responsible for implementing the steps in the underwriting process. staff underwriter - ANS ️️ Underwriter who is usually located in the home office and who assis...

AFSB 151 Chapter 6 Exam Questions and Answers 2024 Equifax - ANS ️️ - A consumer credit report provide that offers investigative reports based on interviews and confirms unfavorable information with two or more sources - Services are used by insurers, lenders, trade creditors, merchants, etc...

AFSB 151 6: Credit Investigations Exam Questions and Answers 2024 credit risk - ANS ️️ the chance that a party will be unable to make required payments on an obligation as they become due most significant federal credit law - ANS ️️ Consumer Credit Protection Act Title 1 - ANS ️️ Tr...