Exam (elaborations)
FL Bail Bonds Questions and Answers 2024
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Exam of 5 pages for the course Florida Bail Bonds at Florida Bail Bonds (FL Bail Bonds)
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FL Bail BondsWhich two Florida Statutes govern the bail bond industry? - answer Chapter 648 and
903
Which Governmental agency or department governs the bail bond industry in the state
of Florida? - answer Florida Department of Financial Services
The Records of all Bail Bond written in this state must be made available within how
many hours after being requested by the state? - answer48 hours
What types of action can the department take against an agents bail bond license? ( 4
types) - answerFine-Probation-suspension-Revoke
What is a daily bond register? - answerThe power registry-Daily log of powers used-
Itemized list to count
What must be held in an individual file or envelope for each principal for whom a bail
bond has been executed? - answerPower- Appearance Bond-premium receipt-
Collateral receipt-promissory note-indemnity agreement-disclosure
notice-Application/Contract-Discharge
What is considered to be reasonable business hours - answer8 hours a day 5 days a
week (Between the hours of 8am and 6pm)
Explain what is acceptable as it pertains to the branch office of a bail agency's entrance
and sign? - answerBusiness name and address you have filed with the department.
How and whom must an agent notify if there has been a change in address, telephone
number or name and what is the time frame allowed? - answerThe Department-The
Sheriff-The surety within 10 days.
What is a build up fund? Aka BUF - answerA joint account between the surety company
and agency to protect the Surety Company
How is a build up fund account opened or titled? - answerOpened jointly in the name of
the agent or agency and the insurer or in trust for the agent or agency by the insurer.
Interest accrued on a build up fund account is credited to whom? - answerThe Bail
Bond agent
, Build up funds are due payable to the agent how long after final discharge? - answer6
months
What are the responsibilities of the primary bail bond agent? - answerResponsibility of
the overall operation, Management, Hiring and supervising of all individuals within the
location.
Explain the requirements for the ownership of a bail bond agency - answerHas to be a
licensed and appointed bail bond agent.
How long must a bail agent keep records of a bail bond transaction? - answer3 years
after the liability of the surety has been terminated?
List two examples or titles that a person may not use or represent themselves as in the
state of Florida - answerBail Enforcement and Bounty Hunter
How is the premium rate that an agent charges to the consumer determined? -
answerThe Surety company negotiates with the department
What is the minimum age requirement for an applicant of a limited surety agents
license? - answer18 Years old
What is the minimum education requirement for an applicant of a limited surety agents
license? - answerHigh school Diploma or equivalent
A person holding a temporary bail bond license may or may not - answerExecute or
sign bonds-deliver a bond-handle collateral receipts-perform pickups alone- manage
and office separate from their supervisor.
What does it mean when an Insurer "appoints" an agent? Describe what this means and
what steps are taken in the appointment procedure - answerMust file the appointment
with the department and at the same time pay the applicable appointment fees and
taxes. A person appointed under this section must hold a valid bail bond agent's or
temporary bail bond agent's license.
What are the continuing education requirements in the state of Florida as it pertains to
Bail Agents? - answerComplete 14 hours every TWO years by the end of your birth
month which includes at least 9 hours elective and 5 hours ethics
What is the purpose of a Managing General Agent - answerSupervise agency and/or
Agents hired by the insurer
What is the name of the document that a bail agent has to record in order to register in
a county in which the wish to execute bonds in? With whom must they register this
document and how often? - answerThe document is a Qualify power of attorney and
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