SIE Exam Question 907: Answer and Explanation

Question: 907

Which of the following is a formal alternative to litigation in which two or more parties select a neutral third party to resolve a dispute? At the conclusion of this process, the final decision, referred to as the "award," is binding.

• A. Arbitration
• B. Mediation
• C. Remediation
• D. Revocation

Correct Answer: A

Explanation:

Arbitration is a formal alternative to litigation in which two or more parties select a neutral third party to resolve a dispute. At the conclusion of this process, the final decision, referred to as the "award," is binding.