Florida Insurance Claims Adjuster License Practice Exam

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Bond underwriting usually looks at the three C's which include all of the following, EXCEPT:

  1. A. Contingency

  2. B. Collateral/Capital

  3. C. Capability

  4. D. Character

The correct answer is: A. Contingency

Bond underwriting looks at three main factors known as the three C's collateral/capital, capability, and character. Contingency (choice A) does not fit into this category as it is not typically considered by underwriters when evaluating a bond. Collateral/capital refers to the assets or funds that can be used to secure the bond, capability looks at a company's financial stability and ability to repay the bond, and character considers the trustworthiness and credibility of the issuer. Therefore, choices B, C, and D are all incorrect because they are all considered in bond underwriting.

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