Assistant Treasurer's Bond is what percentage of the Treasurer's Bond?

Prepare for the MCTA Treasurer Exam with our study resources. Utilize flashcards and multiple choice questions, each with hints and explanations. Excel in your MCTA Treasurer Exam!

Multiple Choice

Assistant Treasurer's Bond is what percentage of the Treasurer's Bond?

The amount of an assistant treasurer’s bond is set as a fraction of the treasurer’s bond to reflect the smaller, but still important, exposure of the assistant’s duties. The standard practice is 25%, meaning the assistant’s bond covers up to one-quarter of the treasurer’s bond. This provides protection for acts within the assistant’s scope without duplicating the full risk covered by the treasurer’s bond. The other percentages would overstate the assistant’s exposure relative to typical policy.

The amount of an assistant treasurer’s bond is set as a fraction of the treasurer’s bond to reflect the smaller, but still important, exposure of the assistant’s duties. The standard practice is 25%, meaning the assistant’s bond covers up to one-quarter of the treasurer’s bond. This provides protection for acts within the assistant’s scope without duplicating the full risk covered by the treasurer’s bond. The other percentages would overstate the assistant’s exposure relative to typical policy.

More practice questions