AFSB 151 - Chapter 4 Exam With 100%
Correct Answers 2023
Line Underwriter - Correct Answer-underwriter who evaluates individual applicants and
policies subject to renewal, referred to as a "desk" underwriter.
Staff Underwriter - Correct Answer-underwriter at home office who assists underwriting
management with making and implementing underwriting policy.
Malfeasance - Correct Answer-the intentional wrongful performance of duty.
Misfeasance - Correct Answer-The mistaken wrongful performance of duty.
Nonfeasance - Correct Answer-The failure to perform a required duty.
Fiduciary - Correct Answer-A person or entity that holds a position of trust, manages
another person's or entity's affairs or funds, and has a duty to that person or entity to act
in a trustworthy manner.
Executor - Correct Answer-A party, named in a deceased's will, who distributes and
settles the deceased's estate.
Administrator - Correct Answer-An individual appointed by a probate court to administer
a decedent's estate when there is no will.
Guardian bonds - Correct Answer-bonds that guarantee that a guardian will faithfully
and diligently administer a minors estate or preserve the rights and assets.
Litigation Bond - Correct Answer-A plaintiff's or defendant's bond.
Costs on appeal bond - Correct Answer-A judicial bond that guarantees the payment of
costs associated with appealing a lower court's decision.
Stay of execution bond - Correct Answer-A judicial bond that guarantees payment of a
judgment, interest, and court costs upon a stay of execution.
Attachment - Correct Answer-The act of seizing property to secure a judgment.
Replevin - Correct Answer-A court action that enables the plaintiff to take back property
held by the defendant before trial.
Replevin Bonds - Correct Answer-Bonds that guarantee that the property will remain in
the same condition and will not be sold or otherwise disposed of.
Correct Answers 2023
Line Underwriter - Correct Answer-underwriter who evaluates individual applicants and
policies subject to renewal, referred to as a "desk" underwriter.
Staff Underwriter - Correct Answer-underwriter at home office who assists underwriting
management with making and implementing underwriting policy.
Malfeasance - Correct Answer-the intentional wrongful performance of duty.
Misfeasance - Correct Answer-The mistaken wrongful performance of duty.
Nonfeasance - Correct Answer-The failure to perform a required duty.
Fiduciary - Correct Answer-A person or entity that holds a position of trust, manages
another person's or entity's affairs or funds, and has a duty to that person or entity to act
in a trustworthy manner.
Executor - Correct Answer-A party, named in a deceased's will, who distributes and
settles the deceased's estate.
Administrator - Correct Answer-An individual appointed by a probate court to administer
a decedent's estate when there is no will.
Guardian bonds - Correct Answer-bonds that guarantee that a guardian will faithfully
and diligently administer a minors estate or preserve the rights and assets.
Litigation Bond - Correct Answer-A plaintiff's or defendant's bond.
Costs on appeal bond - Correct Answer-A judicial bond that guarantees the payment of
costs associated with appealing a lower court's decision.
Stay of execution bond - Correct Answer-A judicial bond that guarantees payment of a
judgment, interest, and court costs upon a stay of execution.
Attachment - Correct Answer-The act of seizing property to secure a judgment.
Replevin - Correct Answer-A court action that enables the plaintiff to take back property
held by the defendant before trial.
Replevin Bonds - Correct Answer-Bonds that guarantee that the property will remain in
the same condition and will not be sold or otherwise disposed of.
