MD TITLE INSURANCE PRODUCER LICENSE
EXAM SCRIPT 2026 QUESTIONS WITH
SOLUTIONS 100% CORRECT
◉ Void for Vagueness. Answer: 1. An incomplete and uncertain contract
based on vague terms --- which may be void
2. If a determination is not reached, the courts may void the contract or
severe the terms.
◉ Statue of Frauds Includes: Answer: - Contracts that cannot be
performed in one year
- Contracts for the sale of real estate, real property, or land.
- Contracts for the sale of goods that are above a certain price
◉ Title Insurance. Answer: A contractual obligation that protects against
losses that occur when title to a property is not free and clear or defects -
-- a one time fee payable at the time of closing
, ◉ Standard Coverage Policy. Answer: Insures primarily against defects
in title which are discoverable through an examination of the public
record --- includes defects in title or recorded liens or encumbrances.
◉ Extended Coverage Policy. Answer: Same insurance as the standard
policy --- also insures against defects, liens, encumbrances, easements,
and encroachments and conflicts in boundary lines that are not reflected
in public records
◉ Homeowners Insurance. Answer: Insures a house, contents, and may
provide coverage for losses due to fire or lighting, theft, vandalism, and
personal liability claims. ---- Billed monthly, quarterly, or annually.
◉ Lenders Policy. Answer: Insures the lender's security interest in the
property has priority over claims that others may have in the property
◉ Owners Policy. Answer: Insures the buyer for as long as he or she
owns the property --- higher than a loan policy due to the assumption of
risk.
◉ Underwriter. Answer: A professional who evaluates the risk involved
when insuring people or assets and establishes pricing.
◉ Settlement Process. Answer: 1. Pre-Licensing: Information is
gathered to determine if the title can be transferable
EXAM SCRIPT 2026 QUESTIONS WITH
SOLUTIONS 100% CORRECT
◉ Void for Vagueness. Answer: 1. An incomplete and uncertain contract
based on vague terms --- which may be void
2. If a determination is not reached, the courts may void the contract or
severe the terms.
◉ Statue of Frauds Includes: Answer: - Contracts that cannot be
performed in one year
- Contracts for the sale of real estate, real property, or land.
- Contracts for the sale of goods that are above a certain price
◉ Title Insurance. Answer: A contractual obligation that protects against
losses that occur when title to a property is not free and clear or defects -
-- a one time fee payable at the time of closing
, ◉ Standard Coverage Policy. Answer: Insures primarily against defects
in title which are discoverable through an examination of the public
record --- includes defects in title or recorded liens or encumbrances.
◉ Extended Coverage Policy. Answer: Same insurance as the standard
policy --- also insures against defects, liens, encumbrances, easements,
and encroachments and conflicts in boundary lines that are not reflected
in public records
◉ Homeowners Insurance. Answer: Insures a house, contents, and may
provide coverage for losses due to fire or lighting, theft, vandalism, and
personal liability claims. ---- Billed monthly, quarterly, or annually.
◉ Lenders Policy. Answer: Insures the lender's security interest in the
property has priority over claims that others may have in the property
◉ Owners Policy. Answer: Insures the buyer for as long as he or she
owns the property --- higher than a loan policy due to the assumption of
risk.
◉ Underwriter. Answer: A professional who evaluates the risk involved
when insuring people or assets and establishes pricing.
◉ Settlement Process. Answer: 1. Pre-Licensing: Information is
gathered to determine if the title can be transferable
