License and permit bonds - Study guides, Class notes & Summaries

| 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 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...

| 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 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...

AFSB 151 Practice Exam Questions and Answers 2024 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 the bond penalty, but no more than the obligee's actual loss amount CB Construction entered into a construction contract with Lee Properties. The con...

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 complexity of financial/commercial relationships led to the need for Commercial suretyship. Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0...

AFSB 151 EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+ 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 specifications payment bond - -a contract bond guaranteeing that the project will be free of liens public official bond - -a commercial surety bond guaranteeing that a public official will perform hi...

AFSB 151 Exam |Complete Questions with A+ Graded A+ Answers 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 specifications payment bond a contract bond guaranteeing that the project will be free of liens public official bond a commercial surety bond guaranteeing that a public official will perf...

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 specifications Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:12 / 0:15 Full screen payment bond a contract bond guaranteeing that the proje...

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...