AFSB 151 Study Guide- Questions and Answers 100% Solved

AFSB 151 Study Guide- Questions and Answers 100% Solved 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 should execute the bid bond because it is within the $30 million annual line of credit. C. Anthony should seek underwriting approval before executing the bid bond because it falls outside the $5 million job contract limit. D. Anthony should execute the bid bond, but will need to seek approval if CC is awarded the job. ️️C. Anthony should seek underwriting approval before executing the bid bond because it falls outside the $5 million job contract limit.