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NASBP’s first online course, Commercial Surety Fundamentals, is now available. It has been reviewed and approved by all states' licensing boards. The following lists the CE hours available by state.
Course availability and approved credit hours will vary by state and is subject to change. This list is provided as a courtesy for information and reference only, and was reviewed as of 8/25/2011. Click the Registration link to confirm the current credit hours available for your state.
Continuing Education Credit Hours*
| Alabama
- 10 hours |
Louisiana - 10 hours
|
Ohio -
10 hours |
| Alaska -
10 hours |
Maine -
10 hours |
Oklahoma -
7 hours |
| Arizona -
10 hours |
Maryland -
10 hours |
Oregon - 10 hours
|
| Arkansas -
10 hours |
Massachusetts - 7 hours
|
Pennsylvania -
10 hours |
| California -
8 hours |
Michigan - 10 hours
|
Rhode Island -
10 hours |
| Colorado
- 10 hours |
Minnesota - 5 hours
|
South Carolina -
10 hours |
| Connecticut -
10 hours
|
Mississippi -
8 hours |
South Dakota -
7 hours |
| Delaware -
10 hours |
Missouri -
10 hours |
Tennessee -
10 hours |
Florida - 8 hours
|
Montana - 10 hours
|
Texas -
10 hours |
Georgia - 10 hours
|
Nebraska -
10 hours |
Utah -
10 hours |
| Hawaii -
10 hours |
Nevada
- 10 hours |
Vermont -
10 hours |
| Idaho -
10 hours |
New Hampshire -
10 hours |
Virginia -
10 hours |
| Illinois
- 10 hours |
New
Jersey - 10 hours
|
Washington -
5 hours |
| Indiana -
10 hours |
New Mexico -
10 hours |
West Virginia - 10 hours
|
| Iowa -
10 hours |
New York - 9 hours
|
Wisconsin -
8 hours |
| Kansas -
7 hours |
North Carolina - 10 hours
|
Wyoming -
10 hours |
| Kentucky -
10 hours |
North Dakota -
10 hours |
Washington
D.C. - 10 hours |
|
* Adjuster and Public Adjuster CE hours are also available in those states that require them.
*If you do not require CE credits you may register for and take the course at any time.*
The National Association of Surety Bond Producers (NASBP) has partnered with WebCE, a leading nationwide provider of Continuing Education for insurance professionals to provide an online Commercial Surety Fundamentals course. CE credits have been applied for in all states and will be available as they are approved. The same course is also available as a non-CE training course.
The course content for NASBP Commercial Surety Fundamentals was developed by members of the NASBP Commercial Surety Committee under the leadership of Lynne Cook, Senior Vice President at Early, Cassidy and Schilling, Inc. Ms. Cooke and Mr. Paul Amstutz, Executive Vice President – Surety at Roanoke Trade Services, Inc. were the lead authors of the course, receiving contributions and assistance from members of the committee.
The purpose of this course is to provide a thorough orientation to commercial surety and to give instruction on how to attend to the details of commercial surety bonds at all relevant stages. The focus is on the key elements of commercial surety and includes legal requirements, underwriting processes, participant roles, and risks. The course describes the required financial information and explains why and what should be collected and reviewed and how this information is used. The student will be introduced to the key factors in successful conduct, including working with bonds, proven management principles, and the ethical standards and expectations of a professional. The course includes the following chapters:
- Commercial Surety Fundamentals
- Evaluating Risk and Exposure
- Underwriting the Principal
- Professional Bond Agency Responsibilities
Each chapter concludes with review questions for students to gauge how well they are mastering the content. On completion of the course students demonstrate their comprehension of all the material by taking a final, online examination.
Priced at $189, the course can be taken by the students at their own pace within a twelve month period.
The National Association of Surety Bond Producers is the association of and resource for surety bond producers and allied professionals. It is solely dedicated to the needs and interests of surety bond producers and serves a membership with personnel of over 5,000 surety agents and brokers. NASBP producers engage in contract and commercial surety production throughout the United States, Puerto Rico, Guam, and a number of countries.
WebCE® is the leading insurance continuing education provider in North America. It delivers over a half million online courses annually, and offers the largest nationwide catalog of courses approved to satisfy state-specific subject requirements.
COURSE DETAILS
CHAPTER 1 – Commercial Surety Fundamentals
•What is a Surety Bond
•The History of Suretyship
•Surety Fundamentals
•Contracts
•Surety Bond Fundamentals
•Two Major Classes of Surety Bonds
CHAPTER 2 - Evaluating Risk and Exposure
•The Underwriting Process
•Identifying the Risk
•Understanding Terms and Conditions
•Evaluating the Principal's Qualification to Perform
•Indemnity Agreements/Applications
CHAPTER 3 – Underwriting the Principal
•Collecting Needed Information
•The Application Process
•Underwriting the Principal/Business
•Underwriting the Credit History
•Understanding Financial Statement Preparation
•Financial Statement Analysis - The Science of Underwriting
•Securing and Releasing Collateral
CHAPTER 4 - Professional Bond Agency Responsibilities
•Surety Bond Execution
•Modifying a Bond
•Renewing or Extending a Bond
•Changing a Bond to Reflect Modifications to an Underlying Agreement
•Canceling a Bond
•Understanding the Commercial Surety Claims Process
•The Professional Surety Bond Producer
•Understanding the Agent's Role in Marketing the Surety Product
•Marketing and Selling the Commercial Surety Product
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