License and permit bonds Study guides, Class notes & Summaries

AFSB 151 Practice Exam Questions and Answers Fully 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 Brainpower Read More Previous Play Next Rewind 10 seconds Move forward...

AFSB 151 ALL CHAPTERS EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+ 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 classification o...

The failure of a corporate broker to have at least one officer of the corporation with a valid individual broker's license during any continuous period of days may result in the revocation (by operation of law) of the license and any permits issued to the corporation. A. 180 B. 30 C. 100 D. 120 E. 90 correct answer: D. 120 19 CFR 111.45(a) CUSTOMS BROKERS Revocation by operation of law. Records of broker-related financial transactions must be retained for at least . A. 2 years B. ...

Which one of these is a reason that sureties face significant hazards on reclamation, mining, and removal bonds? - long-tail liability Which one of these statements about handling reclamation, mining, and removal bond claims is true? - Courts seldom rule in favor of sureties. Which one of these is the second phase of the reclamation process? - Revegetation Which one of these statements about surface or strip mining bonds is true? - The mining permit process is time consuming and expensive....

Any promise to answer for another person's debts or defaults, including the promise that a surety makes to the obligee under a bond, derives from which one of these? - Answer Statutes of frauds Following the Civil War, the growing number and complexity of financial/commercial relationships led to the need for - Answer Commercial suretyship. In accordance with a contract to build a county shed for the Village of Malcom, Raymone Construction purchases a contract surety bond from SureRite In...

AFSB 151 Practice 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 ...

AFSB 151 Practice Exam Questions 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 ...

Which one of these is a reason that sureties face significant hazards on reclamation, mining, and removal bonds? - long-tail liability Which one of these statements about handling reclamation, mining, and removal bond claims is true? - Courts seldom rule in favor of sureties. Which one of these is the second phase of the reclamation process? - Revegetation Which one of these statements about surface or strip mining bonds is true? - The mining permit process is time consuming and expensive....

AFSB 151 FINAL EXAM REVIEW QUESTIONS AND ANSWERS, RATED 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 bond ...

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...