L S
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40% of the surety producer examination, and consist of around 20 questions.

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L S
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Chapter 3

Questão 1 de 42

1

All surety bonds are considered a three party contract.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 2 de 42

1

An insurance contract may not be formed as a two party contract between the
insurer and the insured.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 3 de 42

1

There are __________ parties to a surety bond.

Selecione uma das seguintes:

  • 0

  • 2

  • 1

  • 3

Explicação

Questão 4 de 42

1

The parties to a surety bond consist of:

Selecione uma das seguintes:

  • Principal

  • Obligee

  • Surety

  • All of the above

Explicação

Questão 5 de 42

1

________ is the party in a surety bond that the bond is being posted for

Selecione uma das seguintes:

  • Principal

  • Obligee

  • Surety

  • All of the above

Explicação

Questão 6 de 42

1

_______ is one who with the principal is liable for the conditions of the contract
to the obligee.

Selecione uma das seguintes:

  • Principal

  • Obligee

  • Surety

  • All of the above

Explicação

Questão 7 de 42

1

________ 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.

Selecione uma das seguintes:

  • Principal

  • Obligee

  • Surety

  • All of the above

Explicação

Questão 8 de 42

1

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.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 9 de 42

1

________ is a type of surety bond that guarantees contracts are fulfilled.

Selecione uma das seguintes:

  • Judicial bond

  • Fiduciary Bond

  • Permit bond

  • Contract Bond

Explicação

Questão 10 de 42

1

_________ 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.

Selecione uma das seguintes:

  • Maintenance bond

  • Bid bond

  • Performance bond

  • Payment bond

Explicação

Questão 11 de 42

1

________ 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!

Selecione uma das seguintes:

  • Maintenance bond

  • Bid Bond

  • Performance Bond

  • Payment Bond

Explicação

Questão 12 de 42

1

________ is a surety bond posted by a contractor to guarantee that its
subcontractors and material suppliers on the project will be paid.

Selecione uma das seguintes:

  • Maintenance Bond

  • Bid Bond

  • Performance Bond

  • Payment Bond

Explicação

Questão 13 de 42

1

_______ ensures a contractor will either correct any defects that arise or that the
owner is compensated for those defects..

Selecione uma das seguintes:

  • Maintenance Bond

  • Bid Bond

  • Performance Bond

  • Payment Bond

Explicação

Questão 14 de 42

1

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.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 15 de 42

1

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.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 16 de 42

1

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.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 17 de 42

1

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.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 18 de 42

1

_______ is a type of surety bond that is required by law and statute; state code
and law mandate this type of public official bond.

Selecione uma das seguintes:

  • Voluntary Bond

  • Statutory Bond

  • Common Law Bond

Explicação

Questão 19 de 42

1

_______ 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.

Selecione uma das seguintes:

  • Voluntary Bond

  • Statutory Bond

  • Common Law bond

Explicação

Questão 20 de 42

1

______ is entered into by the own freewill of the public official seeking the bond.

Selecione uma das seguintes:

  • Voluntary

  • Statutory

  • Common Law

Explicação

Questão 21 de 42

1

_______ is granted to a public official on a one-person basis.

Selecione uma das seguintes:

  • Position Schedule Bond

  • Individual Bond

  • Name Schedule Bond

Explicação

Questão 22 de 42

1

______ 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.

Selecione uma das seguintes:

  • Position schedule bond

  • Individual bond

  • Named schedule bond

Explicação

Questão 23 de 42

1

_______ covers loss as prescribed in the bond based on the position held to a set
coverage of liability.

Selecione uma das seguintes:

  • Position schedule bond

  • Individual bond

  • Named schedule bond

Explicação

Questão 24 de 42

1

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.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 25 de 42

1

________ is required before the court can seize a person’s property to secure a
judgment.

Selecione uma das seguintes:

  • Counter replevin bond

  • Garnishment bond

  • Attachment bond

  • Replevin bond

Explicação

Questão 26 de 42

1

______ occurs when money or property belonging to a plaintiff has been attached to
while in the hands of a third party,.

Selecione uma das seguintes:

  • Counter replevin bond

  • Garnishment bond

  • Attachment bond

  • Replevin bond

Explicação

Questão 27 de 42

1

______ 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.

Selecione uma das seguintes:

  • Counter replevin bond

  • Garnishment bond

  • Attachment bond

  • Replevin bond

Explicação

Questão 28 de 42

1

______ may be purchased to regain possession of the property that was originally
obtained by the replevin bond.

Selecione uma das seguintes:

  • Counter replevin bond

  • Garnishment bond

  • Attachment bond

  • Replevin bond

Explicação

Questão 29 de 42

1

______ 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.

Selecione uma das seguintes:

  • Stay of execution bond

  • Release attachment bond

  • Bail bond

  • Appeal bond

Explicação

Questão 30 de 42

1

_____ guarantees payment of an amount due under an execution.

Selecione uma das seguintes:

  • Stay of execution bond

  • Release attachment bond

  • Bail bond

  • Appeal bond

Explicação

Questão 31 de 42

1

________ is a bond posted to suspend the courts decision until a higher court affirms
or denies the original courts decision.

Selecione uma das seguintes:

  • Stay of execution bond

  • Release attachment bond

  • Bail bond

  • Appeal bond

Explicação

Questão 32 de 42

1

______ 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.

Selecione uma das seguintes:

  • Stay of execution bond

  • Release attachment bond

  • Bail bond

  • Appeal bond

Explicação

Questão 33 de 42

1

______ 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.

Selecione uma das seguintes:

  • Discharge mechanics lien

  • Injunction bond

  • Cost bond

  • Dissolve injunction bond

Explicação

Questão 34 de 42

1

_________ results from a court order, whereby a party is required to do, or to refrain
from doing, certain acts.

Selecione uma das seguintes:

  • Discharge mechanics lien

  • Injunction bond

  • Cost bond

  • Dissolve injunction bond

Explicação

Questão 35 de 42

1

________ may allow the defendant to proceed as if an injunction had never been
issued.

Selecione uma das seguintes:

  • Discharge mechanics lien

  • Injunction bond

  • Cost bond

  • Dissolve injunction bond

Explicação

Questão 36 de 42

1

________ 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.

Selecione uma das seguintes:

  • Discharge mechanics lien

  • Injunction bond

  • Cost bond

  • Dissolve injunction bond

Explicação

Questão 37 de 42

1

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.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 38 de 42

1

A court may require a fiduciary bond for any person or party that has fiduciary duty
or responsibility to another.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 39 de 42

1

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.

Selecione uma das opções:

  • VERDADEIRO
  • FALSO

Explicação

Questão 40 de 42

1

________ 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.

Selecione uma das seguintes:

  • Customs bond

  • Self-insured bond

  • Reclamation bond

Explicação

Questão 41 de 42

1

_________ ensures that money is available to pay its obligations under the workers
compensation law and any rules and regulations issued thereafter.

Selecione uma das seguintes:

  • Self-insured bond

  • Reclamation bond

  • Customs bond

Explicação

Questão 42 de 42

1

_________ 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.

Selecione uma das seguintes:

  • Customs bond

  • Self-insured bond

  • Reclamation bond

Explicação