Common use of I understand Clause in Contracts

I understand. I understand that by responding and submitting an answer to any of the questions above I am consenting to provide by Acknowledgement and Certification of the applicable statement(s) by electronic signature. I understand that by responding and submitting an answer to any of these is the equivalent of actually “signing” my name to the statement(s) that precede(s) it. My electronic signature will constitute my “original” signature as well as my Acknowledgement and Certification of the applicable statement(s) when used or printed.