License and permit bonds Study guides, Class notes & Summaries

AFSB 151 Final Exam Questions With Complete Solutions Graded A+ A surety bond is a written document in which one party guarantees a second party's Performance to a third party for the second party's failure to fulfill an obligation. Which one of the these groups, for the most part, serves the market for fidelity and surety bonds in the United States? Multiline property-casualty insurers Sureties use what written document to authorize a producer to act as the surety's agent in bond p...

NY Independent General Adjuster Exam - Series 17-70 Questions and Answers 100% Pass Dram Shop Liability refers to: Liquor Law Liability. The insured has suffered a covered loss under his DP-3 dwelling form. He fails to protect the property from further loss. The additional loss that occurs as a result of his inactions may be denied because of what clause in the policy? Neglect. To be eligible for the New York assigned risk auto plan a person must: Hold a valid driver's license. Any insurance...

Which one of these is a reason that sureties face significant hazards on reclamation, mining, and removal bonds? - long-tail liability Which one of these statements about handling reclamation, mining, and removal bond claims is true? - Courts seldom rule in favor of sureties. Which one of these is the second phase of the reclamation process? - Revegetation Which one of these statements about surface or strip mining bonds is true? - The mining permit process is time consuming and expensive....

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...

Hair and nails are chiefly composed of a horny substance called? Keratin An even and smooth brush out cut over the entire head is called? Quo vidas Which of the following is an implement? Emery board What should be done after draping the client? Brush the hair How often must a barber, manicurist or barber technician license be renewed? Every two years How do you renew an individual license that has been expired for more than five years? Pay a 75 dollar ex...

CPCU 551 - Addressing Commercial Property Risk Questions And Answers 2023 Condominium A real estate development consisting of a group of units, in which the air space within the boundaries of each unit is owned by the unit owner, and all remaining real and personal property is owned jointly by all the unit owners. Condominium unit The portion of a condominium owned solely by a unit owner. Common elements Areas of a condominium that are jointly owned by all unit owners, includin...

Security Officer DC exam Questions and Answers Already Passed Security officer Any person privately employed to do : 1. Prevent theft, misappropriation, or concealment of goods, wares, merchandise, money, bonds, stock certificates, or other valuable documents, papers, articles. 2. Prevent damage to real or personal property 3. Prevent assaults, gate crashing, or other disorders at meetings, events, or performances. 4. Prevent similar illegal occurrences. Security officer (part 2) Uniformed indi...

AFSB 151 All Chapters Questions and Answers 100% Solved Surety bond ️️a written contracts that expresses one party's promise to another party's failure to do something promised Suretyship ️️the obligation of one entity to answer for the debt, default, or miscarriage of performance of duties by another entity Performance bond ️️a contract bond guaranteeing that a contractor's work will be completed according to plans and specifications Payment bond ️️a classificatio...

AFSB 151 Exam |Complete Questions with A+ Graded 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 ...

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...