Fidelity bonds - Study guides, Class notes & Summaries

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 Final Exam|Complete With A+ Graded Answers 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 bond production...

AFSB 151 Exam |Complete Questions with A+ Graded Answers 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 ...

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...

Coverage that is triggered when a claim is first made against the insured, regardless of when the injury took place, is known as Correct Answer: Coverage under the claims-made form According to the other insurance condition, which of the following are methods used to decide how the claim will be divided? Correct Answer: Contribution by equal shares or contribution with limits Which of the following limits of liability in a commercial general liability policy is the most that will be pa...

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...

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 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 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...

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...