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Multiple Choice $4$ points

Which statement best distingu$$hes a construction bond from construction insurance$$

A construction bond shifts the financial risk of contractor non$$performance to a surety$$while construction insurance shifts the financial bunden of accidental lonses leg$$ fre$$theft$$lisbility$$to an insurer$$

A corrituction bond provides post$$complietion warrantles for materist defects$$while construction inuarance compensates designers for professional enrors$$

A construction bond covers third$$party bodily infury and property damage$$whereas construction insurance guarantees timely completion of the project under budget$$

A construction bond is mandatory only on government projects$$whereas comtruction insurance is required only on commercial projects$$

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