New York Watch, Guard, or Patrol Agency (WGP) License Practice Exam

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What is the surety bond required of a PI?

$5,000
$10,000
No bond is required
$20,000

The correct answer is: $10,000

A surety bond is a type of financial guarantee that ensures an individual or business will fulfill their obligations or promises. For a PI (private investigator) specifically, a surety bond of $10,000 is required to be licensed in most states. This bond serves to protect clients from any financial losses or damages caused by the PI's malpractice or negligence. Option A is incorrect because $5,000 is not enough to cover potential damages. Option C is incorrect because a surety bond is typically required for PIs. Option D is incorrect because $20,000 is more than the required amount in most states.