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Which of the following statements about surety bonds is TRUE? The premium paid by the principal to the surety is not the expected loss of

  1. Which of the following statements about surety bonds is TRUE?

    1. The premium paid by the principal to the surety is not the expected loss of the obligee

    2. A surety bond contract has two parties: the principal and the surety

    3. The obligee has the subrogation right against the surety

    4. The surety bond is a type of traditional insurance

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