Afsb 151 - Study guides, Class notes & Summaries

AFSB 151 Practice Exam Q-s(solved).

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...

AFSB 151 Practice Exams with Complete Solutions 100% Verified 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? ️️Statutes of frauds Following the Civil War, the growing number and complexity of financial/commercial relationships led to the need for ️️Commercial suretyship. In accordance with a contract to build a county shed for the Village of Malcom, Raymone C...

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...

AFSB 151 2024 UPDATE COMPLETE QUESTIONS AND VERIFIED DETAILED ANSWERS GRADE A+

AFSB 151 Practice Exams Questions and Answers 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 pur...

Afsb 151 Basics Test Questions And Answers 100% Solved statutory bonds ️️a bond required by regulation or ordinance statutes of frauds ️️law originating in English Parliament requiring that, to be enforceable, certain contracts must be in writing and signed. Surety's promise to an obligee derives from statutes of frauds power of attorney ️️agreement authorizing one person to act as another's agent or attorney surety and insurance commonalities ️️assumption of risk, re...

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 Study Guide Questions With Correct Answers. 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 be outgro...

AFSB 151 Practice Exam Questions and Answers 100% Solved 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 obl...