Florida Insurance Claims Adjuster License Practice Exam

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The three parties to a bond are:

  1. Surety, principal and cosigner

  2. Surety, insured and insurer

  3. Surety, obligee and indemnitor

  4. Surety, obligee and principal

The correct answer is: Surety, obligee and principal

A and B are incorrect because they involve insurance terms and are not specifically related to bonds. C is incorrect because "indemnitor" is not a common term used when talking about bonds, whereas "principal" is a commonly used term in bond agreements.

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