Surety - Study guides, Class notes & Summaries

What guarantees are provided by various licence and permit bonds? 1. Compliance Guarantees 2. Financial Guarantees 3. Credit Guarantees Surety -The state of being sure, certain and secure. -"one who undertakes to pay money or to do any other act in event that his (the) principal fails therein." -Promises to answer for the default of the principal. Suretyship A guarantee of performance made by one person or entity for another. It's basic function is to eliminate risk to the person to ...

Indiana Notary Public Test 2023 Questions and Answers Indiana Notary Public Test 2023 Questions and Answers Indiana Notary Public Test 2023 Questions and Answers Indiana Notary Public Test 2023 Questions and Answers Indiana Notary Public Test 2023 Questions and Answers Indiana Notary Public Test 2023 Questions and Answers Indiana Notary Public Test 2023 Questions and Answers What is a notary public? - ANSWER-A public official authorized to attest to the authenticity of signatures. What are th...

South Carolina Casualty, Surety, Marine Exam 2024 with 100% correct answers

The Motor Vehicle Dealer Board has among its members - ANSWER Board is comprised of three (3) motor vehicle dealers, three (3) used motor vehicle dealers, and three (3) public members The Motor Vehicle Dealer Board is authorized and empowered to a. issue or deny buyer agent licenses b. issue or deny manufacturer representative licenses c. issue or deny motor vehicle dealer and salesperson licenses d. all of the above - ANSWER C. the administration, enforcement, issuance, and denia...

CPCU Ethics Test Questions and Answers Already Passed Ethical behavior is based on reasoned consideration of all issues surrounding a conflict Morality is universal and basic to human relationships Maintaining high ethical standards is best associated with knowledge of law and regulations The Sarbanes-Oxley federal law requires that publicly traded companies identify principal ethics officers, create anonymous hotlines for reporting unethical behavior, and establish codes of ethic...

The Surety

South Carolina Casualty, Surety and Marine Adjuster 19-11 Licensing Course 2024 with 100% correct answers

Iowa Surety Bond 12-IA-46-IA Graded A+ A bankers bond doesn't cover: ️Doesn't Guarantee Drafts Three Parties to a Surety Bond: ️Principal, Surety, Obligee Obligee ️Party that receives the benefit of the bond Surety ️Party that guarantees the obligation will be performed. Principal ️The party that takes the obligation. Obligee ️Receives the benefit Surety ️Guarantees the obligation. Superseded Suretyship ️Provides continuity when a new fidelity bond replaces one ...

SC Property, Casualty, Surety, Marine exam questions with 100% correct answers.

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 Construction obtain a performance bond, ...