Presentment warranties are made by the drawer of a check or draft

Which of the following statements is true of interpreting contract words and terms?

A) Where a preprinted form contract is used, preprinted words prevail over typed words. B) Preprinted words prevail over handwritten words. C) Specific terms are presumed to qualify general terms. D) If there is an ambiguity in a contract, the ambiguity will be resolved in favor of the party who drafted the contract.

Which of the following statements about underwriting policy is (are) true?

I. A company must establish an underwriting policy consistent with company objectives. II. Underwriting policy is usually subjective and allows the underwriter considerable flexibility with respect to lines written and forms used. A) I only B) II only C) both I and II D) neither I nor II