AFSB 153 ACTUAL EXAM PAPER 2026
QUESTIONS WITH SOLUTIONS GRADED A+
◉Public officials who are required to post bonds and who have
direct involvement with members of the public are responsible for
which one of the following?
A: The local court docket
B: The administration of the local land fill
C: The property and safety of others
D: The collection of tax receipts. Answer: C
◉A lawsuit under admiralty law resulting in the seizure of a vessel is
an
A: In person action.
B: Arrest.
C: In rem action.
D: Attachment.. Answer: C
,◉After failing to pay the commission to Greattown for its seasonal
sales of holiday crafts and baked goods, Fancy Foods (FF) left town.
FF had posted a bond written by Wyatt Sureties which guaranteed
the vendor would obey the applicable laws and pay the required
amount after the holiday season was over. When Greattown filed a
claim against Wyatt, what payment amount would Wyatt typically
owe given this franchise and ordinance bond claim?
A: The commission for the agreed-to percentage of holiday sales
B: The full bond penalty which was greater than the amount owed
C: The commission for upcoming holiday seasons
D: The commission plus the legal fees incurred. Answer: D
◉Marvin is a producer working diligently to match bonding needs
for his customers with appropriate sureties to provide a good
working relationship between all parties. Which one of the following
is particularly true for Marvin?
A: Because of the potential risks associated with miscellaneous
bonds, Marvin rarely has confidence in which sureties to approach.
B: Marvin selects an appropriate surety whose underwriters take on
the process of collecting necessary information.
, C: Using U.S. Treasury listings, Marvin identifies approved sureties to
provide Federal Maritime Commission bonds.
D: As a producer, Marvin cannot work with an underwriter to place
applicants for complex claims over a predetermined bond amount..
Answer: C
◉The Computer Store (TCS) brought a claim under the Employee
Theft insuring agreement of its ISO Commercial Crime Coverage
Form. TCS's claim is based on an inventory shortage. To overcome
the inventory shortages policy exclusion, TCS must demonstrate that
the
A: Loss can be accurately established by records and physical count.
B: Insured did not voluntarily part with the property.
C: Loss can be established wholly apart from inventory
computations.
D: Loss is not the result of an accounting or arithmetical error..
Answer: C - Loss needs to be established by other than an inventory
calculation
QUESTIONS WITH SOLUTIONS GRADED A+
◉Public officials who are required to post bonds and who have
direct involvement with members of the public are responsible for
which one of the following?
A: The local court docket
B: The administration of the local land fill
C: The property and safety of others
D: The collection of tax receipts. Answer: C
◉A lawsuit under admiralty law resulting in the seizure of a vessel is
an
A: In person action.
B: Arrest.
C: In rem action.
D: Attachment.. Answer: C
,◉After failing to pay the commission to Greattown for its seasonal
sales of holiday crafts and baked goods, Fancy Foods (FF) left town.
FF had posted a bond written by Wyatt Sureties which guaranteed
the vendor would obey the applicable laws and pay the required
amount after the holiday season was over. When Greattown filed a
claim against Wyatt, what payment amount would Wyatt typically
owe given this franchise and ordinance bond claim?
A: The commission for the agreed-to percentage of holiday sales
B: The full bond penalty which was greater than the amount owed
C: The commission for upcoming holiday seasons
D: The commission plus the legal fees incurred. Answer: D
◉Marvin is a producer working diligently to match bonding needs
for his customers with appropriate sureties to provide a good
working relationship between all parties. Which one of the following
is particularly true for Marvin?
A: Because of the potential risks associated with miscellaneous
bonds, Marvin rarely has confidence in which sureties to approach.
B: Marvin selects an appropriate surety whose underwriters take on
the process of collecting necessary information.
, C: Using U.S. Treasury listings, Marvin identifies approved sureties to
provide Federal Maritime Commission bonds.
D: As a producer, Marvin cannot work with an underwriter to place
applicants for complex claims over a predetermined bond amount..
Answer: C
◉The Computer Store (TCS) brought a claim under the Employee
Theft insuring agreement of its ISO Commercial Crime Coverage
Form. TCS's claim is based on an inventory shortage. To overcome
the inventory shortages policy exclusion, TCS must demonstrate that
the
A: Loss can be accurately established by records and physical count.
B: Insured did not voluntarily part with the property.
C: Loss can be established wholly apart from inventory
computations.
D: Loss is not the result of an accounting or arithmetical error..
Answer: C - Loss needs to be established by other than an inventory
calculation
