AFSB 151 EXAM TEST COMPILATION BUNDLE 2024

AFSB 151 Practice Exam Q's Questions and Answers Graded A+ 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 part...

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 ...

AFSB 151 Practice Exams Questions and Answers A+ Graded 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? Statutes of frauds Following the Civil War, the growing number and ...

AFSB 151 QUESTIONS AND ANSWERS RATED A+ 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 f...

(AFSB 151) Chapter 1 Quiz Questions and Answers Graded A+ A basic type of bond that involves all situations in which sureties guarantee performance of obligations that generally do not arise from contracts is commercial surety bonds bonds for which the laws specify the bond conditions and f...

AFSB 151 QUESTIONS AND ANSWERS LATEST UPDATED 2024 fidelity bonds bonds that historically have guaranteed the performance of obligations that do not arise from contracts performance bonds a contract bond guaranteeing that a contractor's work will be completed according to plans and specif...

AFSB 151 Study Guide Questions and Answers 100% correct 2024 Anthony is the surety producer for Coyle Construction (CC). CC has a pre-set annual surety credit line of $5 million/$30 million. About 3 months into the fiscal year, the contractor is bidding on an $8 million job and needs a bid bond. Wh...

AFSB 151 Chapter 1 Questions and Answers Latest Updated 2024 Contract Bonds These bonds guarantee the performance of a written contract, such as the completion of a construction project. Bid Bonds A type of Contract bond which guarantees the obligee that if a contractor's bid is accepted,...

Assignment 3 Practice Exam Questions with solutions 2024 Field underwriting activities generally include which one of the following? Providing service to producers and policy holders Financial reports are important in bond underwriting not only because they reveal an applicant's financial ...

Exam 3 Management Questions with correct Answers A(n) ____ control can be identified in terms of response time or accuracy, such as the number of defects per 1,000 items produced. quality Which one of the following statements is true as it relates to decision making? Brainstorming groups ...

ACA Exam Questions with solutions 2024 A property policy covers "fire" as a peril. A small fire starts, fortunately, the fire department quickly arrives and puts out the fire. Unfortunately, there is water damage due to the water from the fire hoses. This water damage would be covered because Fi...

AFSB 151 - Principles of Suretyship, Terms Questions and Answers Fully solved Surety bond A written contract that expresses one party's promise to answer for another party's failure to do something as promised. Principal The party to a surety bond whose obligation or performance the sure...

AFSB 151 Ch. 4 Practice Exam Questions with solutions 2024 Which one of the following is the producer's ultimate objective in the contractor-producer-underwriter relationship? To be as responsive as possible to the contractor's needs while presenting business that is reasonably consistent with t...

AFSB 152 Practice Exam Part A Questions with solutions 2024 The two main types of construction are heavy and highway construction and The general building trades Dramatic increase in project size, taking work in new geographical areas, moving into new types of construction, and lack of mana...