CPB (Certified Professional Biller) Certification Practice Exam

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What does bonding insurance guarantee repayment for as per the text?

Employee Theft
Financial Losses from Acts of Employees
Natural Disasters
Property Damage

The correct answer is: Financial Losses from Acts of Employees

Bonding insurance is designed to protect businesses from financial losses that can arise due to dishonest acts committed by their employees, such as theft or fraud. This type of insurance provides a safety net, ensuring that if an employee steals or misappropriates funds, the business can recover its losses. While employee theft is a concern, bonding insurance covers a broader range of financial losses caused by various acts of employees, making it a crucial aspect of risk management for many organizations. This comprehensive protection allows companies to maintain stability and trust, mitigating the potential impact of employee misconduct on their operations and financial health.