All the Following Are Arguments That Surety Bonding Is Not

question 21

Multiple Choice

All the following are arguments that surety bonding is not the same as insurance except:

• A)three parties in the surety bonding contract instead of two for insurance
• B)fraud on the part of the principal does not relieve an insurer of liability under a bond, whereas it does relieve the insurer of liability in an insurance contract
• C)the surety bonding contract is only lending financial backing
• D)both the bonding contract and insurance contract are issued by licensed insurance companies

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Definitions:

Purchases Shift

A change in the buying behavior of consumers, often referring to a movement in demand for goods or services in the market.

Utility Change

refers to changes in the level of satisfaction or happiness that a consumer derives from consuming goods or services, indicating shifts in preferences or economic circumstances.

Marginal Utility

The increase in satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Total Utility

The complete fulfillment derived from the consumption of a specific amount of products or services.