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:

Social Practices

The patterns of behavior and norms that are collectively accepted and followed by a society or social group.

Institutional Racism

Discrimination and unequal treatment based on race that is embedded within the policies, practices, and norms of organizations and institutions.

Interpersonal Racism

Racism that occurs between individuals, involving prejudicial attitudes or discriminatory actions based on race or ethnicity.

White Privilege

A societal advantage that benefits people whom society identifies as white, beyond what is commonly experienced by non-white people under the same social, political, or economic circumstances.