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:

Deposition

Deposition is the geological process by which sediments, minerals, and particles are accumulated or laid down in new locations, often by water, wind, or ice.

Sediment Particles

Small fragments of rock, mineral, or organic materials that are transported and deposited by wind, water, or ice.

Erodes Material

The process by which earth, rock, or other materials are worn away by natural forces such as water flow, wind, or ice.

Abrasion

The wearing away of rock or other material surfaces through contact with particles such as sand or pebbles being moved by wind, water, or ice.