Surety bonds - Study guides, Class notes & Summaries

CAIB 3 - Chapter 5 - Surety Bonds Questions and Answers 100% Pass What guarantees are provided by various licence and permit bonds? - Answer- 1. Compliance Guarantees 2. Financial Guarantees 3. Credit Guarantees Surety - Answer- -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 - Answer- A guarantee of performance made...

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, ...

Florida Bail Bonds State Exam With 100% Correct Answers| Latest Update 2024/2025 elected official responsible for regulation and licensing of bail bondsmen - Answer️️ - Chief financial officer department under the supervision of the Chief Financial Officer - Answer️️ - Florida Dept of Financial Services What chapters of the Florida Statutes govern bail and bail bondsmen? - Answer️️ - Chapters 648 & 903 What effects do the rules of the Chief Financial Officer have on bondsmen?...

CAIB 3 - Exam Practice Questions with 100% correct answers Breach of Contract - answerFailure to perform a promise in a contract without legal excuse Trespass - answerUnlawful interference with someone's person, property, or rights False Imprisonment - answerUnlawfully holding someone against their will Easement - answerRight to use another person's land Constructive Total Loss (MARINE INSURANCE) - answerWhen the cost of salvaging cargo is too high compared to its value Freight (MARINE...

Florida Bail Bonds State Exam 2023-2024 Questions and Answers 100% CorrectFlorida Bail Bonds State Exam 2023-2024 Questions and Answers 100% CorrectFlorida Bail Bonds State Exam 2023-2024 Questions and Answers 100% CorrectAppeal bond - ANSWER-When defendants feel that a trial court has made a error or to harsh of a sentence. They notify the trial court of their appeal and file appeals with a higher court. Bail bond - ANSWER-Guarantee the defendant will appear each and every time he/she is ord...

CAIB 3 - Chapter 5 - Surety Bonds Questions and Answers 100% Pass What guarantees are provided by various licence and permit bonds? - Answer- 1. Compliance Guarantees 2. Financial Guarantees 3. Credit Guarantees Surety - Answer- -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 - Answer- A guarantee of performance made...

AFSB 151 Final Exam Questions With Complete Solutions Graded A+ A surety bond is a written document in which one party guarantees a second party's Performance to a third party for the second party's failure to fulfill an obligation. Which one of the these groups, for the most part, serves the market for fidelity and surety bonds in the United States? Multiline property-casualty insurers Sureties use what written document to authorize a producer to act as the surety's agent in bon...

CPCU 551 - Addressing Commercial Property Risk Questions And Answers 2023 Condominium A real estate development consisting of a group of units, in which the air space within the boundaries of each unit is owned by the unit owner, and all remaining real and personal property is owned jointly by all the unit owners. Condominium unit The portion of a condominium owned solely by a unit owner. Common elements Areas of a condominium that are jointly owned by all unit owners, includin...

GA PROPERTY & CASUALTY INSURANCE TEST - FIDELITY & SURETY BONDSFidelity Bonds - correct answer -Bonds that are a form of insurance that protects an employer against losses sustained due to acts of dishonest employees. -Those that benefit from this protection are: 1.Businesses 2.Non-profits 3.Churches *MOST LIKE AN INSURANCE POLICY *DISHONESTY INSURANCE Types of Fidelity Bonds - correct answer 1.Individual 2.Named Schedule 3.Position Schedule 4.Blanket Fidelity Bonds Types of L...

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 ...