Error at connection or startup of Toad: "List index out of bounds (-1)" or "List index out of bou (4224155)

The following error occurs  at connection or startup of Toad:

"List index out of bounds (-1)"

or

"List index out of bounds (0)"

RESOLUTION 1:
1. Close  Toad
2. Look for a file called TOAD.ini located by default in the  following folder:
      For versions 9.6.1 and lower:
                       C:\program files\quest software\toad for oracle\User files folder.
      For versions 9.7.0 and higher:
                      C:\Documents and Settings\<user name>\Application Data\Quest Software\Toad for Oracle\9.7\User Files
3. Rename  TOAD.ini to TOAD.iniOLD*
4. Re-launch Toad

RESOLUTION  2:
For versions 9.7.0 and higher:
1. Close  Toad
2. Go to C:\Documents and Settings\<user name>\Application Data\Quest Software\Toad for Oracle\9.7 folder  
3.  Open QSAuth11.key file with Notepad and copy  key number and site message to a temporary location.
4. Go to C:\Documents and Settings\<user name>\Application Data\Quest Software\Toad for Oracle folder
5. Rename "9.7" folder to "9.7OLD" *
6. Re-launch Toad and re-enter key and site message

RESOLUTION  3:
For versions 11.x and higher:

*Note Resolutions 2 and 3 will reset all user settings and connection passwords in Toad.