18846774
Pregunta 1
Pregunta
All surety bonds are considered a three party contract.
Respuesta
- True
- False
Pregunta 2
Pregunta
An insurance contract may not be formed as a two party contract between the
insurer and the insured.
Respuesta
- True
- False
Pregunta 3
Pregunta
There are __________ parties to a surety bond.
Respuesta
-
0
-
2
-
1
-
3
Pregunta 4
Pregunta
The parties to a surety bond consist of:
Respuesta
-
Principal
-
Obligee
-
Surety
-
All of the above
Pregunta 5
Pregunta
________ is the party in a surety bond that the bond is being posted for
Respuesta
-
Principal
-
Obligee
-
Surety
-
All of the above
Pregunta 6
Pregunta
_______ is one who with the principal is liable for the conditions of the contract
to the obligee.
Respuesta
-
Principal
-
Obligee
-
Surety
-
All of the above
Pregunta 7
Pregunta
________ is the party in the surety bond whom the future action is guaranteed.
dealing with risk as it occurs; often consumers will pay a higher deductible.
Respuesta
-
Principal
-
Obligee
-
Surety
-
All of the above
Pregunta 8
Pregunta
Both the principal and surety may be considered an obligor in the scope of a
surety bond, or one whom is responsible to the obligee.
Respuesta
- True
- False
Pregunta 9
Pregunta
________ is a type of surety bond that guarantees contracts are fulfilled.
Respuesta
-
Judicial bond
-
Fiduciary Bond
-
Permit bond
-
Contract Bond
Pregunta 10
Pregunta
_________ is a debt secured by a bidder for a construction job or similar type of
bid-based selection process for the purpose of providing a guarantee to the project
owner that the bidder will take on the job if selected.
Respuesta
-
Maintenance bond
-
Bid bond
-
Performance bond
-
Payment bond
Pregunta 11
Pregunta
________ is issued to one party of a contract as a guarantee against the failure of
the other party to meet obligations specified in the contract. Guarantees action!
Respuesta
-
Maintenance bond
-
Bid Bond
-
Performance Bond
-
Payment Bond
Pregunta 12
Pregunta
________ is a surety bond posted by a contractor to guarantee that its
subcontractors and material suppliers on the project will be paid.
Respuesta
-
Maintenance Bond
-
Bid Bond
-
Performance Bond
-
Payment Bond
Pregunta 13
Pregunta
_______ ensures a contractor will either correct any defects that arise or that the
owner is compensated for those defects..
Respuesta
-
Maintenance Bond
-
Bid Bond
-
Performance Bond
-
Payment Bond
Pregunta 14
Pregunta
The purpose of a license or permit bond is to guarantee a municipality or public
body that the individual seeking the license or permit will uphold all laws
pertaining to the issuance of the license or permit.
Respuesta
- True
- False
Pregunta 15
Pregunta
A financial bond in regards to a license or permit bond does not guarantee the
obligee that all monetary obligations faced will be paid to the obligee.
Respuesta
- True
- False
Pregunta 16
Pregunta
An indemnity bond in regards to a license or permit bond does not protect the
obligee from any loss caused by a breach of the obligors’ responsibilities.
Respuesta
- True
- False
Pregunta 17
Pregunta
A public official bond guarantees the honesty and faithful performance of a public
official's duties as prescribed by law or regulation, including the honest account of
all monies entrusted to the official according to the law.
Respuesta
- True
- False
Pregunta 18
Pregunta
_______ is a type of surety bond that is required by law and statute; state code
and law mandate this type of public official bond.
Respuesta
-
Voluntary Bond
-
Statutory Bond
-
Common Law Bond
Pregunta 19
Pregunta
_______ is a surety bond that covers the obligations that may not be explicitly
stated in a statutory bond, or covers a greater amount than the minimum required
by the statutory bond.
Respuesta
-
Voluntary Bond
-
Statutory Bond
-
Common Law bond
Pregunta 20
Pregunta
______ is entered into by the own freewill of the public official seeking the bond.
Respuesta
-
Voluntary
-
Statutory
-
Common Law
Pregunta 21
Pregunta
_______ is granted to a public official on a one-person basis.
Respuesta
-
Position Schedule Bond
-
Individual Bond
-
Name Schedule Bond
Pregunta 22
Pregunta
______ is a type of bond that allows for coverage of all employees named in the
bond. Any individual whose name is not contained within the bond will not be covered.
Respuesta
-
Position schedule bond
-
Individual bond
-
Named schedule bond
Pregunta 23
Pregunta
_______ covers loss as prescribed in the bond based on the position held to a set
coverage of liability.
Respuesta
-
Position schedule bond
-
Individual bond
-
Named schedule bond
Pregunta 24
Pregunta
A brief explanation of a judicial bond may be interpreted as any surety bond posted to
the courts in order to guarantee the courts a future action.
Respuesta
- True
- False
Pregunta 25
Pregunta
________ is required before the court can seize a person’s property to secure a
judgment.
Respuesta
-
Counter replevin bond
-
Garnishment bond
-
Attachment bond
-
Replevin bond
Pregunta 26
Pregunta
______ occurs when money or property belonging to a plaintiff has been attached to
while in the hands of a third party,.
Respuesta
-
Counter replevin bond
-
Garnishment bond
-
Attachment bond
-
Replevin bond
Pregunta 27
Pregunta
______ is a bond required by the court for any party who is suing another party to
secure possession of property that they believe they have a legal right to.
Respuesta
-
Counter replevin bond
-
Garnishment bond
-
Attachment bond
-
Replevin bond
Pregunta 28
Pregunta
______ may be purchased to regain possession of the property that was originally
obtained by the replevin bond.
Respuesta
-
Counter replevin bond
-
Garnishment bond
-
Attachment bond
-
Replevin bond
Pregunta 29
Pregunta
______ is a three party contract between a defendant, surety, and the courts that will
guarantee the court the future appearance of a defendant at all required court proceedings
until a disposition is rendered.
Respuesta
-
Stay of execution bond
-
Release attachment bond
-
Bail bond
-
Appeal bond
Pregunta 30
Pregunta
_____ guarantees payment of an amount due under an execution.
Respuesta
-
Stay of execution bond
-
Release attachment bond
-
Bail bond
-
Appeal bond
Pregunta 31
Pregunta
________ is a bond posted to suspend the courts decision until a higher court affirms
or denies the original courts decision.
Respuesta
-
Stay of execution bond
-
Release attachment bond
-
Bail bond
-
Appeal bond
Pregunta 32
Pregunta
______ guarantees for the payment of any judgment that may be rendered against
him/her in the action, after the plaintiff has secured an attachment bond.
Respuesta
-
Stay of execution bond
-
Release attachment bond
-
Bail bond
-
Appeal bond
Pregunta 33
Pregunta
______ is required by the courts to guarantee payment of court costs such as clerk,
sheriff, and administrative fees associated with the handling of a particular court case.
Respuesta
-
Discharge mechanics lien
-
Injunction bond
-
Cost bond
-
Dissolve injunction bond
Pregunta 34
Pregunta
_________ results from a court order, whereby a party is required to do, or to refrain
from doing, certain acts.
Respuesta
-
Discharge mechanics lien
-
Injunction bond
-
Cost bond
-
Dissolve injunction bond
Pregunta 35
Pregunta
________ may allow the defendant to proceed as if an injunction had never been
issued.
Respuesta
-
Discharge mechanics lien
-
Injunction bond
-
Cost bond
-
Dissolve injunction bond
Pregunta 36
Pregunta
________ allows the owner of property to sell the property, and guarantees to the
claimant of the lien any payment that is still due to them with interest and cost.
Respuesta
-
Discharge mechanics lien
-
Injunction bond
-
Cost bond
-
Dissolve injunction bond
Pregunta 37
Pregunta
A fiduciary bond is a legal instrument that essentially serves as insurance to protect
beneficiaries, heirs and creditors when a fiduciary fails to perform honestly or
competently.
Respuesta
- True
- False
Pregunta 38
Pregunta
A court may require a fiduciary bond for any person or party that has fiduciary duty
or responsibility to another.
Respuesta
- True
- False
Pregunta 39
Pregunta
An equity bond is a method of linking your investment to the stock market without
the risk of losing any money if stock markets go down.
Respuesta
- True
- False
Pregunta 40
Pregunta
________ is a bond that guarantees protection of the public health, safety and
welfare, during and after mining operations, and guarantees the restoration of land to its
previous state of being.
Respuesta
-
Customs bond
-
Self-insured bond
-
Reclamation bond
Pregunta 41
Pregunta
_________ ensures that money is available to pay its obligations under the workers
compensation law and any rules and regulations issued thereafter.
Respuesta
-
Self-insured bond
-
Reclamation bond
-
Customs bond
Pregunta 42
Pregunta
_________ is a guarantee from a surety company to the United States government
that the principal (importer) will abide by all laws and regulations governing the
importation of merchandise into the United States.
Respuesta
-
Customs bond
-
Self-insured bond
-
Reclamation bond
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