In a Guaranty Situation, There Is Only One Contract Among

question 33

True/False

In a guaranty situation, there is only one contract among three parties.

---

Definitions:

Employee Assistance Program

A workplace initiative that provides confidential counseling and support services for employees dealing with personal or job-related issues.

Outplacement Service

A service provided by some organizations to assist former employees in finding new employment, often through career counseling and job search assistance.

Defined-benefit Plan

A type of pension plan where an employer promises a specified pension payment upon retirement, based on the employee's earnings history, tenure of service, and age.

Defined Contribution Plan

A type of retirement plan where the employee, employer, or both make contributions on a regular basis, and the benefits at retirement depend on the account's performance.