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AFSB 151: Understanding Surety Bond Basics

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Gain a strong fundamental understanding of suretyship to best apply the surety bonding process so you can effectively underwrite surety and fidelity bonds. Through this course you’ll acquire a thorough grasp of suretyship, surety bond production, underwriting commercial surety and fidelity bonds, underwriting contract surety bonds, investigating credit risk, using reinsurance, and handling surety bond claims.


Skills You’ll Gain

checkmark Gain a fundamental understanding of surety bonds to confidently work in this field and prepare for its more advanced aspects.

checkmark Learn methods for facilitating the surety bonding process to differentiate yourself from competitors and attract a larger customer base.

checkmark Grasp surety bond underwriting practices and strategies to develop and maintain a profitable book of business.

checkmark Improve your ability to evaluate a principal's financial stability, ensuring the selection of sound risks and safeguarding your organization's solvency.

checkmark Understand the unique aspects of handling surety bond claims so you can fulfill your obligations to all parties.  

Ready-Made Career Skills:

  • Surety Bonds
  • Claims Handling
  • Underwriting
  • Risk Assessment
  • Financial Analysis
  • Reinsurance
  • Fidelity Bonds


Assignment 1:
Understanding Suretyship
25 Minutes
Assignment 2:
Surety Bond Production
20 Minutes
Assignment 3:
Underwriting Commercial Surety and Fidelity Bonds
30 Minutes
Assignment 4:
Underwriting Contract Surety Bonds
20 Minutes
Assignment 5:
Investigating Credit Risk
20 Minutes
Assignment 6:
Using Reinsurance
15 Minutes
Assignment 7:
Handling Surety Bond Claims
20 Minutes
Study Plan

Exam Prep Tools

AFSB 151 comes with proven, comprehensive study materials to help you pass The Institutes Designations' exam with confidence:

  1. Online Course and Textbook: Learn in the format that works best for you with a variety of study options depending on the course package you choose.  
  2. Practice Quizzes: Quickly see where your knowledge gaps are with online practice quizzes for each assignment and for the full course. You can take them as many times as you want! 
  3. Simulated Exam: Designed to give you the full experience of your final exam, the simulated exam is a timed exam that you can take only once. It mimics the exam structure and level of questions you’ll find on the actual exam. Students who take their Institutes simulated exam pass their exams at higher rates than students who don’t.
  4. Flashcards: Test yourself on key terms and topics for each assignment with flashcards that help you fit studying into your busy schedule if you select the recommended or standard course package. 


  1. Does this course give me credit toward a designation? 
    • Yes! AFSB 151 gives you credit toward the Associate in Fidelity and Surety Bonding (AFSB®) designation.  
  2. How long does the course take? 
    • AFSB 151 typically takes students 6-8 weeks to complete. 
  3. How is the exam structured? 
    • Virtual exams are timed. You will have 65 minutes to complete 50 questions. 
  4. What’s included in my course materials? 
    • In addition to the online course, you have access to a textbook, assignment quizzes, practice exams, a simulated exam, and flashcards depending on the course package you choose. 
  5. How do testing windows work? 
    • We offer exams in 4 testing windows throughout the year. You can complete your exam at any time in the testing window that you registered for. Access your exam from your account when the window opens and complete any time until 11:59 p.m. ET on the final day of the window. 
      • Quarter 1: January 15 – March 15 
      • Quarter 2: April 15 – June 15 
      • Quarter 3: July 15 – September 15 
      • Quarter 4: October 15 – December 15