Afsb 151 exam - Study guides, Class notes & Summaries

AFSB 151 EXAM QUESTIONS WITH 100% CORRECT ANSWERS 2023 fidelity bonds - Correct Answer-bonds that historically have guaranteed the performance of obligations that do not arise from contracts performance bonds - Correct Answer-a contract bond guaranteeing that a contractor's work will be completed according to plans and specifications payment bond - Correct Answer-a contract bond guaranteeing that the project will be free of liens public official bond - Correct Answer-a commercial sure...

AFSB 151 Exam |Complete Questions with A+ Graded A+ Answers What are the 2 key roles that producers play - Prequalifying Contractors - Maintaining Communication What are the tasks of producers when prequalifying contracts? 1) Compiling Financial Docs 2) Conducting a background investigation 3) Selecting a surety company 4) preforming credit analysis 5) Present findings What are the 4 things that UWs need to determine? - The feasibility of the surety's undertaking a particular...

AFSB 151 Exam Perfectly Solved To Score A+

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. Which one of the following correctly describes Anthony's responsibility as the surety producer? Select one: A. Anthony should arrange a back-up surety with adequate capacity because CC appears to be outgrowing the capacity of the current surety. B. Anthony sho...

AFSB 151 Exam Perfectly Solved To Score 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 his or her duties faith...

AFSB 151 Exam Questions and Answers All Correct 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 contract bond guaranteeing that the project will be free of liens public official bond - Answer-a commercial surety bond guaranteeing that a public off...

AFSB 151 EXAM REVIEW QUESTIONS & ANSWERS/ GRADED 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 form of suretyship was subject to common law.Incorrect. Under American personal suretyship, sureties were protected by laws that were favorable to them. D. Surety bonds were required to...

AFSB 151 EXAM CHP 1 WITH 100% CORRECT ANSWERS 2023 surety bond - Correct Answer-written document in which one party guarantees to a second party's performance to a third party for the second party's failure to fulfill an obligation. principal - Correct Answer-bonded organization that has the duty to perform in some way for the benefit of the obligee Obligee - Correct Answer-The party to a surety bond that receives the surety's guarantee that the principal will fulfill an obligation or ...