Surety 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? 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...

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 ...

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, ...

Leaders Safety Course and Occupational Health Course (LSC) U.S Army 2023;Module 6 Quiz. To make sure you retain the critical safety information that you need as the company commander. You need minimum 80% to pass.

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...

The Secretary of the Commonwealth is authorized to appoint and commission notaries public for a term of ______ years from the date of appointment. 4 years Notary Public Law: Section 2 The jurisdiction of notaries public is coextensive with the boundaries of the _________________. Commonwealth Notary Public Law: Section 2 Any person who is _______ years of age or over, who resides or is employed within this commonwealth and who is of good character, integrity and ability shall b...

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

Minimum age to become a Notary in PA 18 years of age What is maximum amount of time to record bond, oath of office and commission at the Recorder of Deeds in the county which the notary maintains an office? 45 Days Under RULONA, what amount must surety bond from insurance company licensed in PA in? $10,000 RULONA requires a surety company provide the Department of State how many days notice before canceling the bond? 30 Days The department of state may impose an a...

Casualty Insurance Exam 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 t...

PA Notary Exam Questions with accurate answers, 100% Accurate. Rated A+ Minimum age to become a Notary in PA - -18 years of age What is maximum amount of time to record bond, oath of office and commission at the Recorder of Deeds in the county which the notary maintains an office? - -45 Days Under RULONA, what amount must surety bond from insurance company licensed in PA in? - -$10,000 RULONA requires a surety company provide the Department of State how many days notice before canc...