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AFSB 152 Practice Exam Part A
SKU: AFSB 152 Practice Exam Part A | Pages: 11 | Year: 2024
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AFSB 152 Practice Exam Part A
The two main types of construction are heavy and highway construction and - ✔✔The general
building trades
Dramati...
AFSB 152 Practice Exam Part A
The two main types of construction are heavy and highway construction and - ✔✔The general
building trades
Dramatic increase in project size, taking work in new geographical areas, moving into new types
of construction, and lack of management maturity are all factors that can result in -
✔✔Contractor failure
The Miller Act requires a contractor on a federal construction project to post two bonds, a
performance bond and a - ✔✔Labor and material payment bond
Contractors would typically be granted relief from bidding mistakes from errors in -
✔✔Mathematical calculation
Profitable construction can be achieved by careful estimating, good construction practices, and -
✔✔Efficient job supervision
Most sureties use the 10 percent rule when underwriting bonds. An explanation from the
contractor is required when - ✔✔There is a 10 percent or greater difference between the first and
second bids.
A contractor might finance or refinance equipment or real estate. This financing, secured by real
estate and payable in monthly installments over five to fifteen years, is called - ✔✔A term loan
Which one of the following types of financial statements do sureties prefer with a bond
application? - ✔✔Audit
The primary consideration that influences most contractors in electing a tax reporting method is -
✔✔The deferral of income tax payments to the greatest extent
possible.
The analyst's notes taken during the review of the contract status report might include all of the
following, EXCEPT: - ✔✔Gross profit (loss) recognition
A financial analyst might check for a management change such as that associated with a
stockholder's death, retirement, resignation, or termination when signaled by - ✔✔A treasury
stock transaction
From the analyst's viewpoint, accumulated depreciation or amortization on fixed assets
represents - ✔✔A calculated reduction of value from the cost or capitalized
basis of the assets.
The income statement line-item that is widely recognized as the best measure of the contractor's
success in the principal business activity is - ✔✔Income from operations.
One of the principal areas included in a forecast of financial
conditions and financial results is - ✔✔Expected financial performance of construction contracts
and
backlogs.
An essential step for trend analysis and forecasting is - ✔✔Formulate an overall judgment of
financial trends.
Supply contracts that surety underwriters do not consider hazardous involve products that are
easily replicated, can be purchased from a variety of sources, and - ✔✔Are short in duration
A claim representative needs the principal's cooperation when
gathering information to process a claim. One problem that could result from an uncooperative
principal is - ✔✔Payment of additional attorneys' fees and expenses to enforce
the surety's rights.
- 11-pages detailed model answer (PDF + online view)
- Clinical reasoning & medication selection justified
- NP-level explanation with key teaching points
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AFSB 152 Practice Exam Part A
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