AFSB 151 Test Correct Questions & Answers;Chapter 7 Practice Exam;AFSB 151 Chapter 1; Ch. 4 Practice Exam Questions; Practice Exams ;Final Exam Correct Questions; Application Questions (Chapters 1-8)
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Akiem owns a small hardware business. He plans to hire a contractor to build a new retail building for his business. Akiem contacted his financial planner for advice on the type of bods he should require from the contractor to be assured that the work will be completed properly, according to the spe...
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Add to cartAkiem owns a small hardware business. He plans to hire a contractor to build a new retail building for his business. Akiem contacted his financial planner for advice on the type of bods he should require from the contractor to be assured that the work will be completed properly, according to the spe...
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 th...
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Add to cartWhich 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 th...
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 automatic...
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Add to cartA 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 automatic...
A surety bond is a written document in which one party guarantees a second party's - ANSWERPerformance 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...
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Add to cartA surety bond is a written document in which one party guarantees a second party's - ANSWERPerformance 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...
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 automatic...
Preview 2 out of 12 pages
Add to cartA 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 automatic...
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 t...
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Add to cartAny 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 t...
Which one of the following is the producer's ultimate objective in the contractor-producer-underwriter relationship? - ANSWER To be as responsive as possible to the contractor's needs while presenting business that is reasonably consistent with the surety's underwriting standards Which one of ...
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Add to cartWhich one of the following is the producer's ultimate objective in the contractor-producer-underwriter relationship? - ANSWER To be as responsive as possible to the contractor's needs while presenting business that is reasonably consistent with the surety's underwriting standards Which one of ...
A basic type of bond that involves all situations in which sureties guarantee performance of obligations that generally do not arise from contracts is - ANSWER commercial surety bonds bonds for which the laws specify the bond conditions and for which all three parties are dictated by the applicab...
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Add to cartA basic type of bond that involves all situations in which sureties guarantee performance of obligations that generally do not arise from contracts is - ANSWER commercial surety bonds bonds for which the laws specify the bond conditions and for which all three parties are dictated by the applicab...
Which one of the following statements regarding fidelity bond claims is true? - ANSWER By promptly investigating a bond loss, an insurer may discover that it has recourse against persons or entities whose conduct caused or contributed to the loss, but is not relevant to the proof of loss In prope...
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Add to cartWhich one of the following statements regarding fidelity bond claims is true? - ANSWER By promptly investigating a bond loss, an insurer may discover that it has recourse against persons or entities whose conduct caused or contributed to the loss, but is not relevant to the proof of loss In prope...
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 cont...
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Add to cartfidelity 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 cont...
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