Regarding scheduled fidelity bonds, which statement is FALSE?

Scheduled fidelity bonds are specifically designed to protect against losses due to employee dishonesty, and they allow for a tailored approach to coverage. The correct choice highlights that not all employees under a scheduled fidelity bond are bonded for the same aggregate amount. This is an essential feature of these bonds, as coverage can vary significantly based on the role and level of trust associated with each employee.

Individual employees can be assigned different coverage limits depending on their responsibilities and the potential risk they present to the organization. This allows businesses to manage their risk more effectively, ensuring that higher-risk positions are adequately covered while providing potentially lower coverage for employees in less critical roles.

The option about exclusions relates to the nature of coverage that fidelity bonds provide. Certain types of theft might not be covered, depending on the bond's terms, further emphasizing that these bonds offer protection tailored to specific risks. Therefore, the design of scheduled fidelity bonds supports nuanced risk management approaches for organizations.