AFSB 151 EXAMINATION SCRIPT 2026
COMPLETE QUESTIONS WITH FULL
SOLUTIONS
◉ a group that ensures the general public, legislative bodies,
contractor associations, and others about the benefits of surety
bonds is.
Answer: the national association of surety bond producers (NASBP)
◉ under a bid bond, if the bid is accepted and the principal refused
to enter into the contract or fails to provide the additional required
bonds, subject to the penal amount of the bond, the obligee is
generally entitled to be paid.
Answer: the difference between the amount of the principal's bid
and the next lowest bid the obligee finally accepts
◉ a person who commences an action against another to obtain an
equitable remedy may be required to post this bond before the court
will proceed with the action.
Answer: a plaintiff bond
◉ 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
◉ what group serves the market for fidelity and surety bonds in the
US.
Answer: multiline property-casualty insurers
◉ fiduciary bond.
Answer: required of an individual who has the legal responsibility
for the care of a minor or a legally incompetent person or for such a
person's property
◉ tax or fee bonds classification.
Answer: guarantee that the principal will properly account for and
remit government funds collected as required
◉ maintenance bond.
Answer: guarantees that faulty work will be corrected and defective
materials will be replaced for a period of one year or less and is
usually provided with a performance bond at no added costs
◉ the obligee can recover losses from.
Answer: the principal or the surety, or from both
COMPLETE QUESTIONS WITH FULL
SOLUTIONS
◉ a group that ensures the general public, legislative bodies,
contractor associations, and others about the benefits of surety
bonds is.
Answer: the national association of surety bond producers (NASBP)
◉ under a bid bond, if the bid is accepted and the principal refused
to enter into the contract or fails to provide the additional required
bonds, subject to the penal amount of the bond, the obligee is
generally entitled to be paid.
Answer: the difference between the amount of the principal's bid
and the next lowest bid the obligee finally accepts
◉ a person who commences an action against another to obtain an
equitable remedy may be required to post this bond before the court
will proceed with the action.
Answer: a plaintiff bond
◉ 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
◉ what group serves the market for fidelity and surety bonds in the
US.
Answer: multiline property-casualty insurers
◉ fiduciary bond.
Answer: required of an individual who has the legal responsibility
for the care of a minor or a legally incompetent person or for such a
person's property
◉ tax or fee bonds classification.
Answer: guarantee that the principal will properly account for and
remit government funds collected as required
◉ maintenance bond.
Answer: guarantees that faulty work will be corrected and defective
materials will be replaced for a period of one year or less and is
usually provided with a performance bond at no added costs
◉ the obligee can recover losses from.
Answer: the principal or the surety, or from both
