Which of the following statements is correct with respect to bonding?
a. Bonding is another term for insurance. The two terms, bonding and insurance, are interchangeable 
b. If a person is bonded and that person commits some wrongful act such as stealing a client's money the bonding company is bound to compensate him for any losses he suffers from being caught.
c. Bonding provides protection to the victim injured by the wrongful conduct of the person bonded.
d. Bonding provides protection against loses incurred because of fluctuations in the financial markets.
e. Bonding is a government certification system whereby the government guarantees that a person so bonded or certified will do the job he is hired to do as set out in the bonding certificate.