Which of the Following Statements Is (Are)true with Respect to the Differences

question 14

Multiple Choice

Which of the following statements is (are) true with respect to the differences between insurance and surety bonds?
I.Insurance is a two-party contract;surety involves three parties.
II.Insurers usually do not have the right to recover a loss payment from an insured,while a surety does have the legal right to recoup a loss payment.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Behavioural Propensities

The natural inclinations or tendencies of individuals to behave in certain ways, influenced by both genetic and environmental factors.

Situations

Various circumstances or scenarios that can occur in a professional or personal context, often requiring specific responses.

Rational Approaches

Decision-making processes that are based on logical reasoning, systematic analysis, and factual evidence.

Test Validation

The process of ensuring that an assessment tool accurately measures what it is intended to measure and is reliable and fair.