Afsb 151 test stuvia - Study guides, Class notes & Summaries

AFSB 151 Test Questions & Answers 100% CorrectAFSB 151 Test Questions & Answers 100% CorrectAFSB 151 Test Questions & Answers 100% CorrectAFSB 151 Test Questions & Answers 100% Correct 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 ...

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...

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 - Answer A) Sureties were protected by la...