Surety bonds - Study guides, Class notes & Summaries
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CEE 4100 Exam 2 Questions And Answers (100% Pass) 2024
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CEE 4100 Exam 2 Questions And Answers (100% Pass) 2024 
What causes contractor failure? - ANS-- Rapid overexpansion 
- Subcontractor failure 
- Changes in line of work, scope of work or territory 
- Lack of comprehensive business plan 
- Poor financial controls 
- Failure in communication 
Surety Bonds - ANS-Offers assurances to the owner of a construction project that the general 
contractor will perform the work specified in the contract and pay certain subcontractors and suppliers 
Owner Ben...
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AFSB 151 Practice Exam Questions and Answers 2024
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AFSB 151 Practice Exam Questions and Answers 2024 
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 con...
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| latest 2024/25 exams updates | AFSB 151 PRACTICE EXAM QUESTIONS. QUESTIONS & ANSWERS/ VERIFIED/
- Exam (elaborations) • 27 pages • 2024
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AFSB 151 PRACTICE EXAM QUESTIONS. QUESTIONS & 
ANSWERS/ VERIFIED/ 
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 constructi...
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AFSB 151 PRACTICE EXAM QUESTIONS & ANSWERS/ VERIFIED/| latest 2024/25 exams updates |
- Exam (elaborations) • 27 pages • 2024
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| latest 2024/25 exams updates | 
AFSB 151 PRACTICE EXAM QUESTIONS & ANSWERS/ 
VERIFIED/ 
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...
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CSLB Contractor's Law practice test Part 2 (Questions and Answers) 2024 / 2025
- Exam (elaborations) • 10 pages • 2022
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When should you let your attorney see a construction contract? 
A. Before you let the client see the contract 
B. After the contract is prepared but before you sign it 
C. After the building permit is obtained 
D. After the contract is signed by you and the client -ANSWER-B. After the contract is 
prepared but before you sign it 
Which is the most correct statement as to what must be included in every home 
improvement contract? 
A. Notice of right to cancel 
B. Contractor's license number 
C. T...
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Bail Bonds Louisiana Exam Study Guide with Complete Solutions
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Bail Bonds Louisiana Exam Study Guide with Complete Solutions 
Acquit - Correct Answers to set free:to judicially discharge from an acquisition;to clear (a person) of a criminal charge 
 
Bail Enforcement - Correct Answers the apprehension or surrender of a principal by a natural person who is released on bail or who has failed to appear at and state of the proceedings to answer to the charge before the court, in which he may be prosecuted 
 
obligor - Correct Answers the party who owes the duty...
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AFSB 151 Practice Exams with Complete Solutions 100% Verified
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AFSB 151 Practice Exams with Complete 
Solutions 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? ️️Statutes of frauds 
Following the Civil War, the growing number and complexity of financial/commercial 
relationships led to the need for ️️Commercial suretyship. 
In accordance with a contract to build a county shed for the Village of Malcom, Raymone 
C...
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AFSB 151 PRACTICE EXAMS REVIEW QUESTIONS & ANSWERS. GRADED A| latest 2024/25 exams updates |+
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AFSB 151 PRACTICE EXAMS REVIEW QUESTIONS & 
ANSWERS. GRADED A+ 
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 need for - -Commercial suretyship. 
In accordance with a contract to build a county shed for the Village of Malcom, Raymone Constructi...
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AFSB 153 Sample Exam
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AFSB 153 Sample Exam 
 
The surety relationship includes all of the following parties, EXCEPT: 
a. Surety 
b. Fiduciary 
c. Obligee 
d. Principal - b. Fiduciary 
 
All of the following are recognized bond terms, EXCEPT: 
a. Noncancelable (open term) 
b. Definite term 
c. Continuous term 
d. Revolving term - d. Revolving term 
 
In addition to assisting bond applicants to complete applications and indemnity agreements, 
some surety producers 
a. Investigate commercial surety bond losses. 
b. Desi...
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AFSB 151 Practice Exams
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AFSB 151 Practice Exams 
 
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 need for - Commercial suretyship. 
 
In accordance with a contract to build a county shed for the Village of Malcom, Raymone 
Construction purchases a contract surety bond ...
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