FLORIDA BAIL BONDS STATE Exam Questions
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1. WHICH IS MOST CORRECT REGARDING THE SURETY'S
ACCOUNTS FOR CASH COLLATERAL?
a. One Bank account is allowed for all funds : Business and collateral, but
collateral cannot be spent
b. A separate, individual account must be set up for each bond written
c. Agent needs an account for his business funds & totally separate account
for holding collateral
d. If a separate account is used it must bear interest -
**ANSWER** -C
1. WHAT IS IT CALLED IF A BOND AGENT USES COLLATERAL FOR
HIS OWN GAIN?
a. Conversion
b. Concealment
c. Pecuniary Advantage
d. Pecuniary Fiduciary adversarial action - **ANSWER** -A
1. AFTER THE COURT'S WRITTEN DISCHARGE, WHEN MUST
COLLATERAL BE RETURNED?
a. 14 calendar days
b. 21 calendar days
c. 15 business days - **ANSWER** -B
,1. WHAT IS REQUIRED BY STATUTE FOR THE SURETY TO DO,
WHEN COLLATERAL IS RETURNED
a. There are no special requirements
b. They must provide the indemnitor with a certified receipt
c. They must keep a copy of the receipt in the permanent bond record
d. They must notify the department of insurance within 21 days -
**ANSWER** -C
1. WHAT METHODS ARE PERMITTED FOR THE SURETY TO DEDUCT
EXPENSE & COSTS FROM COLLATERAL OR OTHERWISE OFFSET
LOSSES, AFTER FORFEITURE BY THE DEFENDANT?
I. May retain an amount not to exceed 10% of bond for expenses in locating
& returning defendant PLUS not to exceed an additional 20% of bond for the
cost of converting collateral after forfeiture
II. Surety May retain an amount not to exceed 10% of the Bond for expense
in locating and returning the defendant INCLUDING the cost of converting the
collateral after forfeiture
III. The surety could institute a civil lawsuit to attempt to collect any
additional cost or expenditures incurred in locating or apprehending defendant
or if indemnitor disputed the validity of the costs.
a. I only
b. I and III
c. II and III
d. All of the above - **ANSWER** -B
,WHO REGULATES INSURANCE COMPANIES AND INSURANCE
AGENTS IN FLORIDA?
a) Bail Bond Regulatory Department of Florida
b) Chief Financial Officer
c) Lexington Insurance Company
d) None of the Above - **ANSWER** -B
WHAT IS THE NAME OF THE PERSON IN CHARGE OF THE
DEPARTMENT OF FINANCIAL
SERVICES;
a) Jebb Bushwater
b) Jimmy Patronis
c) Jeff Atwater
d) None of the above - **ANSWER** -B
WHICH TWO CHAPTERS OF THE FLORIDA STATUTES GOVERNS BAIL
BONDSMEN IN THE STATE
OF FLORIDA?
a) Chapters 649 and Chapter 904
b) Chapters 648 and Chapter 903
c) Chapters 483 and Chapters 905
d) All of the above applies - **ANSWER** -B
, IF A PERSON IS ADMITTED TO BAIL ON APPEAL COMMITS AND IS
CONVICTED OF A SEPARATE FELONY WHILE FREE ON APPEAL,
WHAT ACTION CAN BE TAKEN?
a) Defendant gets released on own recognizance
b) Bail on appeal revoked and the defendant committed forthwith
c) Nothing happens
d) Both B and C above is correct - **ANSWER** -B
WHICH OF THE DEFECTS BELOW WILL THE LIABILITY OF A SURETY
NOT BE DISCHARGED?
a) By his/her lack of qualifications required by law
b) Failure of the defendant to sign the contract
c) Both A and B above
d) None of the above - **ANSWER** -C
WHICH OF THE FOLLOWING IS CORRECT?
a) A temporary limited surety agent can work with any amount of bondsmen
during his internship period
b) A temporary agent can be employed by only one licensed and appointed
supervising bail bond agent
c) The temporary agent may be appointed by different insurers separate
from the supervising agent
d) All of the above is correct - **ANSWER** -B
A SUPERVISING AGENT SHALL CERTIFY MONTHLY TO THE
DEPARTMENT UNDER OATH, ON A FORM PRESCRIBED BY THE
and Answers Verified and Well Detailed Answers
Already Graded A+ Latest Update
1. WHICH IS MOST CORRECT REGARDING THE SURETY'S
ACCOUNTS FOR CASH COLLATERAL?
a. One Bank account is allowed for all funds : Business and collateral, but
collateral cannot be spent
b. A separate, individual account must be set up for each bond written
c. Agent needs an account for his business funds & totally separate account
for holding collateral
d. If a separate account is used it must bear interest -
**ANSWER** -C
1. WHAT IS IT CALLED IF A BOND AGENT USES COLLATERAL FOR
HIS OWN GAIN?
a. Conversion
b. Concealment
c. Pecuniary Advantage
d. Pecuniary Fiduciary adversarial action - **ANSWER** -A
1. AFTER THE COURT'S WRITTEN DISCHARGE, WHEN MUST
COLLATERAL BE RETURNED?
a. 14 calendar days
b. 21 calendar days
c. 15 business days - **ANSWER** -B
,1. WHAT IS REQUIRED BY STATUTE FOR THE SURETY TO DO,
WHEN COLLATERAL IS RETURNED
a. There are no special requirements
b. They must provide the indemnitor with a certified receipt
c. They must keep a copy of the receipt in the permanent bond record
d. They must notify the department of insurance within 21 days -
**ANSWER** -C
1. WHAT METHODS ARE PERMITTED FOR THE SURETY TO DEDUCT
EXPENSE & COSTS FROM COLLATERAL OR OTHERWISE OFFSET
LOSSES, AFTER FORFEITURE BY THE DEFENDANT?
I. May retain an amount not to exceed 10% of bond for expenses in locating
& returning defendant PLUS not to exceed an additional 20% of bond for the
cost of converting collateral after forfeiture
II. Surety May retain an amount not to exceed 10% of the Bond for expense
in locating and returning the defendant INCLUDING the cost of converting the
collateral after forfeiture
III. The surety could institute a civil lawsuit to attempt to collect any
additional cost or expenditures incurred in locating or apprehending defendant
or if indemnitor disputed the validity of the costs.
a. I only
b. I and III
c. II and III
d. All of the above - **ANSWER** -B
,WHO REGULATES INSURANCE COMPANIES AND INSURANCE
AGENTS IN FLORIDA?
a) Bail Bond Regulatory Department of Florida
b) Chief Financial Officer
c) Lexington Insurance Company
d) None of the Above - **ANSWER** -B
WHAT IS THE NAME OF THE PERSON IN CHARGE OF THE
DEPARTMENT OF FINANCIAL
SERVICES;
a) Jebb Bushwater
b) Jimmy Patronis
c) Jeff Atwater
d) None of the above - **ANSWER** -B
WHICH TWO CHAPTERS OF THE FLORIDA STATUTES GOVERNS BAIL
BONDSMEN IN THE STATE
OF FLORIDA?
a) Chapters 649 and Chapter 904
b) Chapters 648 and Chapter 903
c) Chapters 483 and Chapters 905
d) All of the above applies - **ANSWER** -B
, IF A PERSON IS ADMITTED TO BAIL ON APPEAL COMMITS AND IS
CONVICTED OF A SEPARATE FELONY WHILE FREE ON APPEAL,
WHAT ACTION CAN BE TAKEN?
a) Defendant gets released on own recognizance
b) Bail on appeal revoked and the defendant committed forthwith
c) Nothing happens
d) Both B and C above is correct - **ANSWER** -B
WHICH OF THE DEFECTS BELOW WILL THE LIABILITY OF A SURETY
NOT BE DISCHARGED?
a) By his/her lack of qualifications required by law
b) Failure of the defendant to sign the contract
c) Both A and B above
d) None of the above - **ANSWER** -C
WHICH OF THE FOLLOWING IS CORRECT?
a) A temporary limited surety agent can work with any amount of bondsmen
during his internship period
b) A temporary agent can be employed by only one licensed and appointed
supervising bail bond agent
c) The temporary agent may be appointed by different insurers separate
from the supervising agent
d) All of the above is correct - **ANSWER** -B
A SUPERVISING AGENT SHALL CERTIFY MONTHLY TO THE
DEPARTMENT UNDER OATH, ON A FORM PRESCRIBED BY THE
