Property & Casualty Exam Prep 55, Surety and Fidelity Bonds

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The three parties to a surety bond: the principal, obligee, and surety. - How a surety bond guarantees the performance of the principal for the benefit of the obligee. - Why the principal must indemnify the surety for any losses paid under a surety bond. - How a fidelity bond protects a business from the dishonest acts of its employees. - The key differences in how claims are handled between surety and fidelity bonds. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep