Illinois Notary Primer Practice Exam

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What is the purpose of a Notary Bond?

Provides coverage for damages to anyone who suffers financially from a Notary's action - intentional or not
Ensures financial security for the Notary in case of errors
Guarantees a notarized document's authenticity
Supports the Notary's retirement fund

The correct answer is: Provides coverage for damages to anyone who suffers financially from a Notary's action - intentional or not

A Notary Bond serves the purpose of providing coverage for damages to anyone who suffers financially from a Notary's actions, whether intentional or not. This bond is a form of protection for the public to ensure they have recourse if they incur financial losses due to a Notary's misconduct or negligence. Option B, ensuring financial security for the Notary in case of errors, is not the main purpose of a Notary Bond. Option C, guaranteeing a notarized document's authenticity, is more related to the Notary's stamp and seal. Option D, supporting the Notary's retirement fund, is not a function of a Notary Bond.