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Performance bond: Quiz

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Question 1: The term is also used to denote a collateral deposit of "good faith money"[2], intended to secure a ________, commonly known as margin[3].
Forward contractDerivatives marketFutures contractDerivative (finance)

Question 2: If the contractor fails to construct the building according to the specifications laid out by the contract (most often due to the ________ of the contractor), the client is guaranteed compensation for any monetary loss up to the amount of the performance bond.
Bond (finance)BankruptcyInsolvencyDebt

Question 3: A performance bond is a surety bond issued by an insurance company or a ________ to guarantee satisfactory completion of a project by a contractor.
Commercial bankOffshore bankInvestment bankingBank







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