Real Estate 84 ch11 quiz with Answers.

 0 out of 1 points


Which of the following persons or institutions is not exempt from escrow agent licensing
requirements?

Selected Answer: c.

Broker performing escrow services for his or her own transaction

Answers: a.

Attorney

b.

Title company

c.

Broker performing escrow services for his or her own transaction

d.

Broker performing escrow services for someone else's transaction


 Question 2

1 out of 1 points


Which of the following is an advantage of the escrow process?

Selected Answer: d.

Both A and B

Answers: a.

Parties do not have to be present at same time for closing

, b.

Parties are less able to back out of the transaction

c.

Parties are protected against title defects of record

d.

Both A and B


 Question 3

1 out of 1 points


Which of the following items is not a part of the escrow process?

Selected Answer: b.

Making a counteroffer

Answers: a.

Ordering a preliminary title report

b.

Making a counteroffer

c.

Paying off the remainder of the seller's loan

d.

Recording mortgage documents


 Question 4