Afsb 151 practice exam - Study guides, Class notes & Summaries

AFSB 151 Practice Exam with Complete Solutions 100% Verified Large accounts should be monitored to ensure that when companies add subsidiaries or affiliates or are acquired by new owners, the new parties sign a new indemnity agreement. Otherwise, if a claim arises, the surety might have only which one of the following to fall back on? Select one: A. The bond form B. The three-party surety agreement. C. Its common-law rights D. An obsolete indemnity agreement ️️C. Its common-law r...

AFSB 151 Practice Exam Questions 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 principal defaults the surety will pay - Up to the bond penalty, but no more than the obligee's actual loss amount CB Construction entered into a construction contract with Lee Properties. The contract required that CB ...

AFSB 151 Practice Exam Q's & A’S 2024 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 automatically reinsured, is -Answer-Treaty reinsurance A surety's liability for a surety bond can only cease to exist when the underlying obligation/agreement ha...

AFSB 151 Practice Exam Questions and Answers 100% Solved 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 automatically reinsured, is ️️Treaty reinsurance A surety's liability for a surety bond can only cease to exist when the underlying obl...

| latest 2024/25 exams updates | AFSB 151 PRACTICE EXAM QUESTIONS & ANSWERS/ VERIFIED/ 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 principal defaults the surety will pay - -Up to the bond penalty, but no more than the obligee's actual loss amount CB Construction entered into a construction contract...

AFSB 151 Practice Exam Questions 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

AFSB 151 Practice Exams – Questions With Solutions

AFSB 151 Practice Exam Questions & Answers 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 automatically reinsured, is - ANS ️️ Treaty reinsurance A surety's liability for a surety bond can only cease to exist when the underlying obligation/agre...

| latest 2024/25 exams updates | AFSB 151 PRACTICE EXAM QUESTIONS. QUESTIONS & ANSWERS/ VERIFIED/ 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 principal defaults the surety will pay - -Up to the bond penalty, but no more than the obligee's actual loss amount CB Construction entered into a constructi...

AFSB 151 Practice Exams Questions and Answers 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 to the need for -Answer-Commercial suretyship. In accordance with a contract to build a county shed for the Village of Malcom, Raymone Construction pur...