Which of the Following Statements About Errors and Omissions Insurance

question 2

Multiple Choice

Which of the following statements about errors and omissions insurance is (are) true?
I.It is purchased by professionals to protect against claims arising for negligent acts,errors,and omissions.
II.It is designed to meet the needs of stock brokers,attorneys,engineers,architects and other professionals who give advice to clients.

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

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Definitions:

Oil Sands

Deposits of bitumen or extremely heavy crude oil that can be mined and processed to extract the oil, primarily found in Alberta, Canada.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials.

Fukushima Nuclear Accident

A major nuclear disaster that occurred at the Fukushima Daiichi Nuclear Power Plant in Japan in March 2011, caused by a tsunami following a massive earthquake.

Synthetic Natural Gas

A fuel gas that can be produced from fossil fuels or renewable sources, designed to mimic the properties of natural gas.