Afsb 151 - Study guides, Class notes & Summaries
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AFSB 151 Practice Exam – Questions With Detailed Answers
- Exam (elaborations) • 18 pages • 2024
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AFSB 151 Practice Exam – Questions With Detailed Answers
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AFSB 151 BASICS – QUESTIONS WITH SOLUTIONS
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AFSB 151 BASICS – QUESTIONS WITH SOLUTIONS
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AFSB 151 Exam – Questions & Complete A+ Solutions
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AFSB 151 Exam – Questions & Complete A+ Solutions
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AFSB 151 Exam Questions and Answers 100% Solved
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AFSB 151 Exam Questions and Answers 
100% Solved 
Surety bond ️️A written contract that expresses one party's promise to answer for another 
party's failure to do something as promised. 
Obligee ️️The party to a surety bond that receives the surety's guarantee that the principal 
will fulfill an obligation or perform as promised. 
Principal ️️The party to a surety bond whose obligation or performance the surety 
guarantees. 
Surety ️️The party (usually an insurer) to a sur...
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AFSB 151 Practice Exam - Q's And A’s (100% Correct)
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AFSB 151 Practice Exam - Q's And A’s (100% Correct)
And that's how you make extra money
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AFSB 151 All Chapters Questions and Answers 100% Solved
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AFSB 151 All Chapters Questions and 
Answers 100% Solved 
Surety bond ️️a written contracts that expresses one party's promise to another party's 
failure to do something promised 
Suretyship ️️the obligation of one entity to answer for the debt, default, or miscarriage of 
performance of duties by another entity 
Performance bond ️️a contract bond guaranteeing that a contractor's work will be completed 
according to plans and specifications 
Payment bond ️️a classificatio...
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AFSB 151 Study Guide- Questions and Answers 100% Solved
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AFSB 151 Study Guide- Questions and 
Answers 100% Solved 
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 ...
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AFSB 151 Practice Exam Q-s(solved).
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AFSB 151 Practice Exam Q-s(solved).
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AFSB 151 Practice Exam Questions and Answers 100% Solved
- Exam (elaborations) • 32 pages • 2024
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AFSB 151 Practice Exam Questions and 
Answers 100% Solved 
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. ...
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AFSB 151 Final Exam with Complete Solutions 100% Verified
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AFSB 151 Final Exam with Complete 
Solutions 100% Verified 
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 b...
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