WRA MAIN EXAMINATION SET 2026/2027 QUESTIONS
AND SOLUTIONS RATED A+
✔✔From what does a warranty deed protect a grantee?
A: Misrepresentation
B: Unenforceable contracts
C: Defective title
D: Significant defects in the property - ✔✔C
Explanation:
A warranty deed is the most protective of all deeds and it protects a grantee from
receiving a defective title to the property.
✔✔Title insurance offers coverage for:
A: judgment liens recorded against a property
B: losses sustained because of defects in the title other than those excepted by the
policy
C: use-value assessments
D: special assessments levied after a seller and buyer close on a property - ✔✔B
Explanation:
Title insurance protects buyers and lenders in the event that certain title defects develop
after the title has been researched prior to a sale.
✔✔What interest does a quitclaim deed convey?
A: The grantor's interest
B: The grantee's interest
C: The entire property
D: The claimant's interest - ✔✔A
Explanation:
A quitclaim deed is a grant of the grantor's interest in the property. It does not warrant
title or possession.
✔✔A property has a market value of $120,000 and is assessed at 60% of market value.
What is the property's tax bill if the tax rate is 30 mills?
A: $4,200
B: $2,160
C: $1,750
D: $3,600 - ✔✔B
, Explanation:
$120,000 x .60 = $72,000 assessed value 30 mills = 30/1000 = .03 $72,000 x .03 mills =
$2,160 tax bill.
✔✔Which of the following deeds provides the highest guarantee of title?
A: Executor's deed
B: Quitclaim deed
C: Personal representative's deed
D: General warranty deed - ✔✔D
Explanation:
A grantor of a quitclaim deed does not make any promises regarding title. The deed
serves to transfer the interest of the grantor.
✔✔Which deed creates the least liability for a grantor?
A: A special warranty deed
B: A bargain and sale deed
C: A quitclaim deed
D: A general warranty deed - ✔✔C
Explanation:
A quitclaim deed transfers only the interest owned by the grantor. It does not warranty
the grantor's interest.
✔✔Who examines an abstract and prepares an opinion of title?
A: A firm
B: The buyer
C: The abstract company
D: An attorney - ✔✔D
Explanation:
A buyer's attorney reviews an abstract and prepares an attorney's opinion of title.
✔✔Who pays for the primary title insurance policy?
A: The buyer
B: The seller
C: The listing firm
D: The lender - ✔✔B
Explanation:
AND SOLUTIONS RATED A+
✔✔From what does a warranty deed protect a grantee?
A: Misrepresentation
B: Unenforceable contracts
C: Defective title
D: Significant defects in the property - ✔✔C
Explanation:
A warranty deed is the most protective of all deeds and it protects a grantee from
receiving a defective title to the property.
✔✔Title insurance offers coverage for:
A: judgment liens recorded against a property
B: losses sustained because of defects in the title other than those excepted by the
policy
C: use-value assessments
D: special assessments levied after a seller and buyer close on a property - ✔✔B
Explanation:
Title insurance protects buyers and lenders in the event that certain title defects develop
after the title has been researched prior to a sale.
✔✔What interest does a quitclaim deed convey?
A: The grantor's interest
B: The grantee's interest
C: The entire property
D: The claimant's interest - ✔✔A
Explanation:
A quitclaim deed is a grant of the grantor's interest in the property. It does not warrant
title or possession.
✔✔A property has a market value of $120,000 and is assessed at 60% of market value.
What is the property's tax bill if the tax rate is 30 mills?
A: $4,200
B: $2,160
C: $1,750
D: $3,600 - ✔✔B
, Explanation:
$120,000 x .60 = $72,000 assessed value 30 mills = 30/1000 = .03 $72,000 x .03 mills =
$2,160 tax bill.
✔✔Which of the following deeds provides the highest guarantee of title?
A: Executor's deed
B: Quitclaim deed
C: Personal representative's deed
D: General warranty deed - ✔✔D
Explanation:
A grantor of a quitclaim deed does not make any promises regarding title. The deed
serves to transfer the interest of the grantor.
✔✔Which deed creates the least liability for a grantor?
A: A special warranty deed
B: A bargain and sale deed
C: A quitclaim deed
D: A general warranty deed - ✔✔C
Explanation:
A quitclaim deed transfers only the interest owned by the grantor. It does not warranty
the grantor's interest.
✔✔Who examines an abstract and prepares an opinion of title?
A: A firm
B: The buyer
C: The abstract company
D: An attorney - ✔✔D
Explanation:
A buyer's attorney reviews an abstract and prepares an attorney's opinion of title.
✔✔Who pays for the primary title insurance policy?
A: The buyer
B: The seller
C: The listing firm
D: The lender - ✔✔B
Explanation:
