Afsb 151 exam - Study guides, Class notes & Summaries

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 guaranteeing that the project will be free of liens public official bond - Answer a commercial surety bond guaranteeing that a public official will perform his or her duties faithfully an...

AFSB 151 exam 2023 with 100% correct answers / AFSB 151 Study Guide A comparison of how surety operates with how insurance operates shows that underwriting must contrast the nature of insurance policies with bond forms. Which one of the following is a feature that is unique to insurance policies? Select one: A. They are typically filed with and approved by insurance departments in each state in which they are to be used B. They incorporate statutes or other legal documents by reference, ther...

AFSB 151 Exam Quizzes & Ans…

AFSB 151 Exam Questions with 100% Correct Answers | Verified | Latest Update

fidelity bonds correct answersbonds that historically have guaranteed the performance of obligations that do not arise from contracts performance bonds correct answersa contract bond guaranteeing that a contractor's work will be completed according to plans and specifications payment bond correct answersa contract bond guaranteeing that the project will be free of liens public official bond correct answersa commercial surety bond guaranteeing that a public official will perform his or ...

AFSB 151 Exam Questions & Answers Which one of the following characteristics is unique under American personal suretyship compared with corporate suretyship? A. Sureties were protected by laws that were favorable to them. B. This form of suretyship was subject to statutory law. C. This form of suretyship was subject to common law.Incorrect. Under American personal suretyship, sureties were protected by laws that were favorable to them. D. Surety bonds were required to be in writing A) ...

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, ...

AFSB 151 Exam Questions & Answers Which one of the following characteristics is unique under American personal suretyship compared with corporate suretyship? A. Sureties were protected by laws that were favorable to them. B. This form of suretyship was subject to statutory law. C. This form of suretyship was subject to common law.Incorrect. Under American personal suretyship, sureties were protected by laws that were favorable to them. D. Surety bonds were required to be in writing A) ...