Bảo hiểm & Quyền cầm giữCâu 1485 / 1605
Which statement best distinguishes a SURETY BOND from an INSURANCE policy?
a.A surety bond is a three-party guarantee that protects a third party (the obligee); if the surety pays a claim, it can seek reimbursement from the principal
b.Insurance always involves three parties and a right of reimbursement
c.A surety bond protects the bonded party from its own losses, like insurance
d.There is no meaningful difference between them
Giải thích
A surety bond is a three-party arrangement (principal, obligee, surety) guaranteeing the principal's obligation to the obligee; the surety expects to be repaid by the principal for paid claims. Insurance is a two-party risk-transfer where the insurer absorbs the insured's loss without reimbursement.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- 'Builder's risk' insurance (also called course-of-construction insurance) primarily protects:
- A 'certificate of insurance' (COI) provided by a subcontractor to a prime contractor:
- When a prime contractor is named as an 'additional insured' on a subcontractor's CGL policy, the practical benefit to the prime is that:
- An indemnity (hold-harmless) clause in a construction subcontract typically operates to:
- A recorded mechanics lien claim in California must include, among other things, a statement of the claimant's demand, the name of the owner, a description of the site, and:
- Under current California law, a mechanics lien is generally NOT enforceable unless the claimant:
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Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)