The surety relationship - Study guides, Class notes & Summaries

AFSB 151 Practice Exam Questions 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 ...

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...

Hawaii Notary Public Exam Questions and Answers 2023 Ture or false; The Notary Public is required to provide notarial service to the general public? True A Notary Public's functions include these 5 things. 1. Administering oaths 2. Witnessing the signing of documents 3. Attesting to the identity of the signers of the document 4. noting protests 5. taking acknowledgments of documents To be eligible for the notary public commission in Hawaii the applicant must be these 3 thin...

The surety relationship includes all of the following parties, EXCEPT: a. Surety b. Fiduciary c. Obligee d. Principal - correct answer b. Fiduciary All of the following are recognized bond terms, EXCEPT: a. Noncancelable (open term) b. Definite term c. Continuous term d. Revolving term - correct answer 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....

AFSB 151 Practice Exams Questions and 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? -Answer- Statutes of frauds Following the Civil War, the growing number and complexity of financial/commercial relationships led to the need for -Answer-Commercial suretyship. In accordance with a contract to build a county shed for the Village of Malcom, Raymone Construction pur...

AFSB 151 Practice Exam Questions & Answers 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 automatically reinsured, is - ANS ️️ Treaty reinsurance A surety's liability for a surety bond can only cease to exist when the underlying obligation/agre...

The surety relationship includes all of the following parties, EXCEPT: a. Surety b. Fiduciary c. Obligee d. Principal correct answersb. Fiduciary All of the following are recognized bond terms, EXCEPT: a. Noncancelable (open term) b. Definite term c. Continuous term d. Revolving term correct answersd. Revolving term In addition to assisting bond applicants to complete applications and indemnity agreements, some surety producers a. Investigate commercial surety bond losses. b. Des...

Which one of the following characteristics is unique under American personal suretyship compared with corporate suretyship? - correct 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 - correct 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 contract required that CB Constructi...

AFSB 151 Practice Exam Questions and Answers Fully solved 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 Brainpower Read More Previous Play Next Rewind 10 seconds Move forward...

AFSB 151 Practice Exam Questions With 100% Correct Answers. 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 ...