Afsb 151 practice exam - Study guides, Class notes & Summaries

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, ...

AFSB 151 Practice Exam – Questions And Answers

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 Practice Exam – Questions With Detailed Answers

AFSB 151 Practice Exam - Q's And A’s (100% Correct)

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 Practice Exam Questions and Answers 100% 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 CB Construction entered into a construction contract with Lee Properties. ...

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 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 Construction purchases a contract surety bond ...