Florida Insurance Claims Adjuster License Practice Exam

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Contract bonds include all of the following, EXCEPT:

Permit bond
Performance bond
Bid bond
Maintenance bond

The correct answer is: Permit bond

Contract bonds are created in order to protect parties involved in a contract. A permit bond ensures that a contractor will comply with certain regulations when obtaining permits for a project. All of the other options are specific types of contract bonds that serve a particular purpose A performance bond ensures that the contractor will complete the project as agreed upon, a bid bond guarantees that the contractor will enter into a contract if they win the bid, and a maintenance bond ensures that the project will be maintained for a certain period of time after completion. Therefore, option A (permit bond) is not a type of contract bond.