Construction Questionnaire

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Question 1 of 4

1. Question
Why is bonding necessary in the construction industry?
- The bond protects against disruptions or financial loss due to a contractor’s failure to complete a project or failure to meet project specifications.
- The bond does not protect against disruptions or financial loss due to a contractor’s failure to complete a project or failure to meet project specifications.
- Both A and B
- None of the above
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Question 2 of 4

2. Question
Why are some private organizations requiring a surety bond as well?
- Private owners are mitigating risks the same way public owners do via bonding
- Private owners are taking all of the risks
- Private owners are delegating risks the same way public owners do via bonding
- None of the above
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Question 3 of 4

3. Question
What is the difference between private and public construction jobs?
- The main difference between a private and public construction project is that, while the former is commissioned and paid by private institutions, businesses or building owners, a public construction job is closely associated with the rules that are determined by either the federal or state government
- The main difference between a private and public construction project is that, while the former is commissioned and paid by nonprofit institutions, businesses or building owners, a public construction job is closely associated with the rules that are determined by either the federal or state government
- One is public and the other is private
- None of the above
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Question 4 of 4

4. Question
What is a construction bond?
- A construction bond is a type of surety bond used by investors in construction projects. Construction bonds are a type of surety bond that protects against disruptions or financial loss due to a contractor's failure to complete a project or failure to meet contract specifications. These bonds ensure a construction project’s bills will get paid.
- A construction bond is a type of surety bond used by investors in digital marketing projects
- A construction bond is a type of surety bond used by investors in e-commerce projects
- None of the above
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Construction Questionnaire

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