The surety relationship - Study guides, Class notes & Summaries

AFSB 151 - Application Questions (Chapters 1-8) Akiem owns a small hardware business. He plans to hire a contractor to build a new retail building for his business. Akiem contacted his financial planner for advice on the type of bods he should require from the contractor to be assured that the work will be completed properly, according to the specifications and in compliance with city building codes. Akiem believes that personal suretyship, backed by his brother (the surety), would be suff...

AFSB 151 Practice Exam Q's A type of reinsurance transaction that involves an agreement between the primary insurer and the reinsurer specifying how to transfer risks, that defines the eligible risks in terms of lines and classes of business, that specifies the parties' obligations, and for which eligible risks are automatically reinsured, is - Treaty reinsurance A surety's liability for a surety bond can only cease to exist when the underlying obligation/agreement has - been perfor...

ASFB 151 Cumulative Exam Questions with Correct Answers 100% Solved Unless cosureties limit their respective liabilities in a bond, when two or more cosureties execute a bond with the same principal, their liability to the obligee is: ️️Joint and Several A financial guarantee differs from performance and fidelity guarantees because it requires honesty, the ability to perform the contract, and ️️The ability to pay money to meet the contractual obligation An organization that us...

AFSB 151 Practice Exam Q's & A’S 2024 A type of reinsurance transaction that involves an agreement between the primary insurer and the reinsurer specifying how to transfer risks, that defines the eligible risks in terms of lines and classes of business, that specifies the parties' obligations, and for which eligible risks are automatically reinsured, is -Answer-Treaty reinsurance A surety's liability for a surety bond can only cease to exist when the underlying obligation/agreement ha...

Timeshare License Exam Questions and Answers Already Graded A How long is a TSA license valid for? 2 years If a timeshare AGENT initially becomes licensed on June 6, 2000, when will the license expire? June 30, 2002 (end of the month - 2 years later) If a timeshare REPRESENTATIVE initially becomes licensed on June 6, 2009, when will the license expire? June 30, 2010 (end of the month - 1 year later) An applicant for an original timeshare license MUST provide: An application, certificates for ...

AFSB 151 PRACTICE EXAM REVIEW QUESTIONS & ANSWERS, VERIFIED/ 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 c...

AFSB 151 Practice Exam Questions 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 contract require...

AFSB 151 Practice Exam Q's Questions and Answers Graded A+ A type of reinsurance transaction that involves an agreement between the primary insurer and the reinsurer specifying how to transfer risks, that defines the eligible risks in terms of lines and classes of business, that specifies the parties' obligations, and for which eligible risks are automatically reinsured, is Treaty reinsurance A surety's liability for a surety bond can only cease to exist when the underlying obligatio...

AFSB 151 PRACTICE EXAM QUESTIONS & ANSWERS, GRADED A+ A type of reinsurance transaction that involves an agreement between the primary insurer and the reinsurer specifying how to transfer risks, that defines the eligible risks in terms of lines and classes of business, that specifies the parties' obligations, and for which eligible risks are automatically reinsured, is - -Treaty reinsurance A surety's liability for a surety bond can only cease to exist when the underlying obligation/a...

What is the relationship between the notary and signer? to authenticate the signer's identity You ______ need to be a US citizen. You_______ need to be a CA resident. You DO NOT need to be a US citizen. You DO need to be a CA resident. 00:02 01:34 Fine: No ID & Perjury $10Gs $10,000 Fine: fail to notify about name and address change $500 Fine: for overcharging $750 Fine: AWI-- advertising, willful, immigration $1,500 Fine: thumbs and gu...