Which of the Following Statements About Various Types of Surety

question 26

Multiple Choice

Which of the following statements about various types of surety bonds is true?

• A)A judicial bond guarantees that a public official will faithfully perform his or her duties for the protection of the public.
• B)A payment bond guarantees that the bonded person will appear in court.
• C)A license and permit bond guarantees that the bonded party will comply with all the laws and regulations governing his or her activities.
• D)A bid bond guarantees that the principal will complete a construction project on time.

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Definitions:

Reversed Magnetic Polarity

A condition where the magnetic north and south poles swap positions, a phenomenon observed in the Earth's geological history.

Compass Needle

The magnetized pointer on a compass that aligns itself with the Earth's magnetic field to indicate the direction of magnetic north.

Seamounts

Underwater mountains formed by volcanic activity, not reaching the ocean's surface, and often a hotspot of marine life.

Island Chains

Sequential islands formed close to each other, often as a result of volcanic activity, and stretching out over distances in the ocean.