Chapter 11

Question 1 of 4

Medal-premium 1

A guarantee that a contractual obligation will be fulfilled would require what type of bond?

Select one of the following:

  • Fidelity Bond

  • Mutual Bond

  • Surety Bond

  • James Bond

Question 2 of 4

Medal-premium 1

What are the three parties of bond contracts?

Select one of the following:

  • Principle, Obligee & Surety

  • Insured, Insurer & Claimant

  • 1st party, 2nd party & 3rd Party

Question 3 of 4

Medal-premium 1

Can bonds be changed after issuance?

Select one of the following:

  • True

  • False

Question 4 of 4

Medal-premium 1

The amount of the bond premium is called a Penalty?

Select one of the following:

  • True

  • False

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Chapter 11

FutureAdjusters
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Future Adjusters Online Class - Chapter 11

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