AFSB 153 - Practice Exam Questions Which one of these is a reason that sureties face significant hazards on reclamation, mining, and removal bonds? - ✔✔long-tail liability Which one of these statements about handling reclamation, mining, and removal bond claims is true? - ✔✔Courts seldom rule in favor of sureties. Which one of these is the second phase of the reclamation process? - ✔✔Revegetation Which one of these statements about surface or strip mining bonds is true? - ✔✔The mining permit process is time consuming and expensive. Which one of these is the obligee in a retail service or professional license bond? - ✔✔state or municipality Which one of these kinds of bonds would typically be associated with a carnival? - ✔✔Amusement enterprise bonds 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. Which one of these statements about auctioneer bonds is true? - ✔✔The obligee is the state or municipality. 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 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 Which one of these is the principal on industrial alcohol bonds? - ✔✔The owner or operator of a business that manufactures industrial alcohol Which one of these kinds of bonds guarantees the payment of taxes that generate revenue for maintaining state or local roads? - ✔✔Mileage tax bonds Which one of these is the obligee on a warehouse and grain elevator bond? - ✔✔The federal government 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. 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. Which one of these is an objective of the United States Warehouse Act? - ✔✔Establish standards for safe warehouse operations Which one of these parties is the obligee on a motor vehicle dealer bond? - ✔✔The state or municipality 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. Which one of these is the obligee on a mobile
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