Surety Bonds (70 questions) Check
A $50,000 Bid Bond was
purchased to cover the
construction of a $1,000,000
building. You failed to accept the job for the amount bid, how much will the bond
pay?
A. $50.000
B. $100,0000
C. The difference to the next bid accepted
D. $1,500,000 - ANS-C. The difference to the next bid accepted
\A Bid Bond means that a
contractor will:
A. Not charge over 10% profit
B. Enter into the contract
C. Complete the job by a given date
D. Pay off the supplies and materials - ANS-B. Enter into the contract
\A Bid Bond was purchased in the amount of $50.000. The
contractor was unwilling to
perform. How will the bond
respond?
A. Pays $50,000
B. Will pay the difference
between the lowest and highest bid
C. Will pay the difference between the bid and the next accepted bid
D. None of the above - ANS-C. Will pay the difference between the bid and the next
accepted bid
\A Blue Sky Bond covers which of the following:
A. Loss of money orders, cashier checks
,B. Securities lost due to poor investments
C. Court Bond to handle the affairs of others
D. Misrepresentation by security dealers - ANS-D. Misrepresentation by security
dealers
\A bond that guarantees that the person appointed to handle the property of minor or
senior is a?
A. Fiduciary
B. Conservation
C. Indemnity
D. Probate - ANS-B. Conservation
\A bond that guarantees the
supplies needed for a construction project will be
delivered on time and at the agreed upon price is called:
A. Payment bond
B. Supply contract bond
C. Maintenance bond
D. Retail credit bond - ANS-B. Supply contract bond
\A bond to guarantee property of minor or senior is a bond.
A. Fiduciary
B. Conservation
C Indemnity
D. Probate - ANS-B. Conservation
\A bond which is like a license bond except it is written for
specific function is
A. Franchise
B. Permit
, C Indemnity
D. Fiduciary - ANS-B. Permit
\A bond which is required in order to sell stocks, bonds or securities is called:
A. Blue sky bond
B. Payment bond
C. Lost instrument bond
D. Fiduciary bond - ANS-A. Blue sky bond
\A bond which would be required in order to put on a special athletic event is called:
A. License bond
B. Indemnity bond
C. Fiduciary bond
D. Permit bond - ANS-D. Permit bond
\A contractor is chosen to build a building. Which bond will guarantee that the work is
completed to the building
owner's specifications?
A. Bid Bond
B. Supply Bond
C. Performance Bond
D. Maintenance Bond - ANS-C. Performance Bond
\A contractor is chosen to build a building. Which bond will guarantee that the work is
completed to the building
owner's specifications?
A. Bid Bond
B. Supply Bond
C. Performance Bond
D. Maintenance Bond - ANS-C. Performance Bond
A $50,000 Bid Bond was
purchased to cover the
construction of a $1,000,000
building. You failed to accept the job for the amount bid, how much will the bond
pay?
A. $50.000
B. $100,0000
C. The difference to the next bid accepted
D. $1,500,000 - ANS-C. The difference to the next bid accepted
\A Bid Bond means that a
contractor will:
A. Not charge over 10% profit
B. Enter into the contract
C. Complete the job by a given date
D. Pay off the supplies and materials - ANS-B. Enter into the contract
\A Bid Bond was purchased in the amount of $50.000. The
contractor was unwilling to
perform. How will the bond
respond?
A. Pays $50,000
B. Will pay the difference
between the lowest and highest bid
C. Will pay the difference between the bid and the next accepted bid
D. None of the above - ANS-C. Will pay the difference between the bid and the next
accepted bid
\A Blue Sky Bond covers which of the following:
A. Loss of money orders, cashier checks
,B. Securities lost due to poor investments
C. Court Bond to handle the affairs of others
D. Misrepresentation by security dealers - ANS-D. Misrepresentation by security
dealers
\A bond that guarantees that the person appointed to handle the property of minor or
senior is a?
A. Fiduciary
B. Conservation
C. Indemnity
D. Probate - ANS-B. Conservation
\A bond that guarantees the
supplies needed for a construction project will be
delivered on time and at the agreed upon price is called:
A. Payment bond
B. Supply contract bond
C. Maintenance bond
D. Retail credit bond - ANS-B. Supply contract bond
\A bond to guarantee property of minor or senior is a bond.
A. Fiduciary
B. Conservation
C Indemnity
D. Probate - ANS-B. Conservation
\A bond which is like a license bond except it is written for
specific function is
A. Franchise
B. Permit
, C Indemnity
D. Fiduciary - ANS-B. Permit
\A bond which is required in order to sell stocks, bonds or securities is called:
A. Blue sky bond
B. Payment bond
C. Lost instrument bond
D. Fiduciary bond - ANS-A. Blue sky bond
\A bond which would be required in order to put on a special athletic event is called:
A. License bond
B. Indemnity bond
C. Fiduciary bond
D. Permit bond - ANS-D. Permit bond
\A contractor is chosen to build a building. Which bond will guarantee that the work is
completed to the building
owner's specifications?
A. Bid Bond
B. Supply Bond
C. Performance Bond
D. Maintenance Bond - ANS-C. Performance Bond
\A contractor is chosen to build a building. Which bond will guarantee that the work is
completed to the building
owner's specifications?
A. Bid Bond
B. Supply Bond
C. Performance Bond
D. Maintenance Bond - ANS-C. Performance Bond
