Advanced AFSB 153 - Practice Exam 100%
Questions and Answers, 2023/2024
1. Which one of these is a reason that sureties face significant hazards on reclamation, mining, and
removal bonds? - >>long-tail liability
2. Which one of these statements about handling reclamation, mining, and removal bond claims is
true? - >>Courts seldom rule in favor of sureties.
3. Which one of these is the second phase of the reclamation process? - >>Revegetation
4. Which one of these statements about surface or strip mining bonds is true? - >>The mining
permit process is time consuming and expensive.
5. Which one of these is the obligee in a retail service or professional license bond? - >>state or
municipality
6. Which one of these kinds of bonds would typically be associated with a carnival? -
>>Amusement enterprise bonds
7. Which one of these statements about producing retail services and professional license bonds is
true? - >>Laws that require profitable bonds are sources of potential business for producers.
8. Which one of these statements about auctioneer bonds is true? - >>The obligee is the state or
municipality.
9. Which one of these is the principal on a tax bond? - >>The owner or operator of the business
that is required to collect and remit taxes
10. With which one of these parties must producers place federal excise bonds? - >>Sureties that are
included in the United States Department of the Treasury's listing of approved sureties
, 11. Which one of these is the principal on industrial alcohol bonds? - >>The owner or operator of a
business that manufactures industrial alcohol
12. Which one of these kinds of bonds guarantees the payment of taxes that generate revenue for
maintaining state or local roads? - >>Mileage tax bonds
13. Which one of these is the obligee on a warehouse and grain elevator bond? - >>The federal
government
14. ich one of these statements about warehousing and grain dealer bond claims is true? - >>An
unlicensed warehouse must still satisfy all property redelivery demands or pay the value of the
product.
15. Which one of these statements about underwriting warehousing and grain dealer bonds is true?
- >>Sureties prefer to write bonds for warehouse owners that engage solely in warehousing and
that own the land on which the warehouse stands.
16. Which one of these is an objective of the United States Warehouse Act? - >>Establish standards
for safe warehouse operations
17. Which one of these parties is the obligee on a motor vehicle dealer bond? - >>The state or
municipality
18. Which one of these statements about motor vehicle bond claims is true? - >>Laws that pertain
to motor vehicle dealers vary widely throughout the United States.
19. Which one of these is the obligee on a mobile home warranty coverage bond? - >>The state
20. Which one of these statements about motor vehicle dealer bonds is true? - >>Most motor
vehicle bonds involve a moderate level of risk.
Questions and Answers, 2023/2024
1. Which one of these is a reason that sureties face significant hazards on reclamation, mining, and
removal bonds? - >>long-tail liability
2. Which one of these statements about handling reclamation, mining, and removal bond claims is
true? - >>Courts seldom rule in favor of sureties.
3. Which one of these is the second phase of the reclamation process? - >>Revegetation
4. Which one of these statements about surface or strip mining bonds is true? - >>The mining
permit process is time consuming and expensive.
5. Which one of these is the obligee in a retail service or professional license bond? - >>state or
municipality
6. Which one of these kinds of bonds would typically be associated with a carnival? -
>>Amusement enterprise bonds
7. Which one of these statements about producing retail services and professional license bonds is
true? - >>Laws that require profitable bonds are sources of potential business for producers.
8. Which one of these statements about auctioneer bonds is true? - >>The obligee is the state or
municipality.
9. Which one of these is the principal on a tax bond? - >>The owner or operator of the business
that is required to collect and remit taxes
10. With which one of these parties must producers place federal excise bonds? - >>Sureties that are
included in the United States Department of the Treasury's listing of approved sureties
, 11. Which one of these is the principal on industrial alcohol bonds? - >>The owner or operator of a
business that manufactures industrial alcohol
12. Which one of these kinds of bonds guarantees the payment of taxes that generate revenue for
maintaining state or local roads? - >>Mileage tax bonds
13. Which one of these is the obligee on a warehouse and grain elevator bond? - >>The federal
government
14. ich one of these statements about warehousing and grain dealer bond claims is true? - >>An
unlicensed warehouse must still satisfy all property redelivery demands or pay the value of the
product.
15. Which one of these statements about underwriting warehousing and grain dealer bonds is true?
- >>Sureties prefer to write bonds for warehouse owners that engage solely in warehousing and
that own the land on which the warehouse stands.
16. Which one of these is an objective of the United States Warehouse Act? - >>Establish standards
for safe warehouse operations
17. Which one of these parties is the obligee on a motor vehicle dealer bond? - >>The state or
municipality
18. Which one of these statements about motor vehicle bond claims is true? - >>Laws that pertain
to motor vehicle dealers vary widely throughout the United States.
19. Which one of these is the obligee on a mobile home warranty coverage bond? - >>The state
20. Which one of these statements about motor vehicle dealer bonds is true? - >>Most motor
vehicle bonds involve a moderate level of risk.
