AFSB study plan

Diagram the three-party surety relationship and explain, in writing, how it differs from a two-party insurance contract

Differentiate fidelity bonds from commercial crime policies across at least six structural features (coverage trigger, loss basis, recovery rights, cancellation, limits, discovery)

Define the core fidelity bond terms: employee, dishonesty, manifest intent, loss, discovery period, and termination

Classify ten short claim scenarios as fidelity bond, commercial crime, or neither, and justify each classification

Specify the insuring agreements and exclusions found in the main commercial crime coverage forms

Distinguish employee theft, forgery or alteration, computer fraud, funds transfer fraud, and social engineering fraud by their triggering events and conditions

Calculate a covered loss when a deductible, a limit per occurrence, and an aggregate limit all apply, and show each step

Explain how the discovery period, cancellation provisions, and prior-loss exclusions affect whether a claim is payable

Compare financial institution bond coverages with the commercial crime forms and identify where the two overlap

Describe the surety's indemnity, subrogation, and salvage rights after paying a loss

Define bid, performance, and payment bonds and state the obligation each secures

Outline the Miller Act notice and claim requirements for federal public works projects

Underwrite a contractor by calculating working capital, net worth, and the maximum underwriting capacity from a supplied balance sheet

Evaluate a work-in-progress schedule to identify overbilling, underbilling, and backlog trends

Explain how the general indemnity agreement, indemnitor financial strength, and collateral affect a surety's decision

Identify the information a surety requires before issuing a bond for a contractor working outside its prior experience

Sequence the steps a surety follows from notice of contractor default through resolution of a performance bond claim

Compare the surety's completion options (tender, takeover, re-bonding, payment of the penal sum) and state when each is preferable

Apply payment bond notice and suit time limits to three claim fact patterns and determine whether timely notice was given

Analyze how bonded contract language, change orders, and owner-caused delay can affect the surety's obligations

Classify commercial surety bonds into license and permit, court and judicial, public official, and miscellaneous categories

Distinguish fiduciary, appeal, attachment, and supersedeas bonds by the risk each addresses

Explain the obligee, principal, and penalty considerations that are unique to non-contract surety

Match ten bond descriptions to the correct bond category and note one key underwriting question for each

Underwrite a non-contract bond request using the applicant's financial statements, credit history, and character of the obligation

Explain when collateral, indemnity, or bond term limits are appropriate for court and license bond exposures

Identify the events that trigger a claim on a license and permit bond and describe the surety's response options

Evaluate how bond forms, riders, and statutory requirements vary across jurisdictions

Integrate concepts across all three domains by answering mixed sets of questions without knowing the domain in advance

Diagnose weak areas from practice-exam results and re-study the three lowest-scoring subtopics

Rehearse the calculations used in crime loss determination, surety capacity, and bond penalty problems under timed conditions

Summarize each domain's key rules on a single review sheet you can use during the final week