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Alabama Title Insurance Act (ATIA)
Questions and Correct Answers the Latest
Update and Recommended Version
Under the Alabama Title Insurance Act, no title insurer shall pay, directly or indirectly, any
portion of a fine imposed on any ____________ of the title insurer.
✓ agent
Under the ATIA, the commissioner shall retain the authority to enforce the provisions of and
impose any penalty or remedy authorized by the ATIA or elsewhere in Title 27 against any
person who is ________ of the act or title 27 even if the person's license or registration has
been surrendered or has expired by operation of law.
✓ under investigation for or charged with a violation.
Under ATIA, if from any examination of a title insurer, the commissioner finds that a title
insurer is violating any of the provisions of Section 34-3-7, the commissioner shall so certify his
or her findings in writing to the ________, who shall forthwith bring an action in a court of
competent jurisdiction in the state of Alabama to permanently enjoin the commission of such
acts by the title insurer.
✓ Attorney General
Under the ATIA, an individual who has taken and failed to pass two title insurance agent
examinations may not retake the exam until after the expiration of ___ months from the date
of the last examination which the individual failed to pass.
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✓ 3
Under the ATIA, before approving the application for a title insurance agent license, the
commissioner shall find that the individual is at least 19 years of age and is a bona fide
resident and citizen of Alabama a full-time employee of a duly licensed _________ whose
principal place of business is physically located in Alabama.
✓ Title insurance agent
Under ATIA, a notice of availability of owner's title insurance must contain the address or legal
description of the property, along with the disclosure of the availability of such insurance and
the title insurance premium. Which of the following is NOT required by the Act as to such
written notice?
a) The date the notice is executed by the purchaser
b) Space for the purchaser to order a simultaneous-issue loan policy
c) Space for the purchaser to either acquire or decline owner's coverage
d) Signature of the purchaser or purchasers
✓ b) Space for the purchaser to order a simultaneous-issue loan policy
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Under ATIA, an individual who holds a title insurance agent license shall satisfactorily complete
a minimum of ______ hours of continuing education courses approved by and reported to the
commissioner on a biennial basis in conjunction with the license renewal cycle.
✓ 24
Under ATIA, a title insurance agent must inform the commissioner of a change in legal name or
address within ________ days of the change in a manner prescribed by the commissioner.
✓ 30
Under ATIA, the commissioner may in his or her discretion and upon good cause shown, revoke
the license issued to a:
✓ Title insurer
Under ATIA, a failure by the title insurance agent to timely inform the commissioner of a
change in legal name or address shall result in a penalty of ____. If the penalty is not paid
within 30 days after notice of the penalty assessment, the license shall be suspended until the
penalty is paid.
✓ $50.00
Under ATIA, the commissioner may place on probation, suspend, revoke, or refuse to issue or
renew the license of a title insurance agent or may levy civil penalty pursuant to subsection (d)
of the Act, or any combination of these actions, for any one or more of the following causes
EXCEPT:
|
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✓ © 2024 TestTrackers ✓ Your Success is Our Mission!
✓ Customer Support: [+254707240657]
Alabama Title Insurance Act (ATIA)
Questions and Correct Answers the Latest
Update and Recommended Version
Under the Alabama Title Insurance Act, no title insurer shall pay, directly or indirectly, any
portion of a fine imposed on any ____________ of the title insurer.
✓ agent
Under the ATIA, the commissioner shall retain the authority to enforce the provisions of and
impose any penalty or remedy authorized by the ATIA or elsewhere in Title 27 against any
person who is ________ of the act or title 27 even if the person's license or registration has
been surrendered or has expired by operation of law.
✓ under investigation for or charged with a violation.
Under ATIA, if from any examination of a title insurer, the commissioner finds that a title
insurer is violating any of the provisions of Section 34-3-7, the commissioner shall so certify his
or her findings in writing to the ________, who shall forthwith bring an action in a court of
competent jurisdiction in the state of Alabama to permanently enjoin the commission of such
acts by the title insurer.
✓ Attorney General
Under the ATIA, an individual who has taken and failed to pass two title insurance agent
examinations may not retake the exam until after the expiration of ___ months from the date
of the last examination which the individual failed to pass.
|
✓ Thank You for Choosing Us! ✓ Resources & Updates: [Testtrackers - Stuvia US]
✓ © 2024 TestTrackers ✓ Your Success is Our Mission!
✓ Customer Support: [+254707240657]
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✓ 3
Under the ATIA, before approving the application for a title insurance agent license, the
commissioner shall find that the individual is at least 19 years of age and is a bona fide
resident and citizen of Alabama a full-time employee of a duly licensed _________ whose
principal place of business is physically located in Alabama.
✓ Title insurance agent
Under ATIA, a notice of availability of owner's title insurance must contain the address or legal
description of the property, along with the disclosure of the availability of such insurance and
the title insurance premium. Which of the following is NOT required by the Act as to such
written notice?
a) The date the notice is executed by the purchaser
b) Space for the purchaser to order a simultaneous-issue loan policy
c) Space for the purchaser to either acquire or decline owner's coverage
d) Signature of the purchaser or purchasers
✓ b) Space for the purchaser to order a simultaneous-issue loan policy
|
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✓ © 2024 TestTrackers ✓ Your Success is Our Mission!
✓ Customer Support: [+254707240657]
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Under ATIA, an individual who holds a title insurance agent license shall satisfactorily complete
a minimum of ______ hours of continuing education courses approved by and reported to the
commissioner on a biennial basis in conjunction with the license renewal cycle.
✓ 24
Under ATIA, a title insurance agent must inform the commissioner of a change in legal name or
address within ________ days of the change in a manner prescribed by the commissioner.
✓ 30
Under ATIA, the commissioner may in his or her discretion and upon good cause shown, revoke
the license issued to a:
✓ Title insurer
Under ATIA, a failure by the title insurance agent to timely inform the commissioner of a
change in legal name or address shall result in a penalty of ____. If the penalty is not paid
within 30 days after notice of the penalty assessment, the license shall be suspended until the
penalty is paid.
✓ $50.00
Under ATIA, the commissioner may place on probation, suspend, revoke, or refuse to issue or
renew the license of a title insurance agent or may levy civil penalty pursuant to subsection (d)
of the Act, or any combination of these actions, for any one or more of the following causes
EXCEPT:
|
✓ Thank You for Choosing Us! ✓ Resources & Updates: [Testtrackers - Stuvia US]
✓ © 2024 TestTrackers ✓ Your Success is Our Mission!
✓ Customer Support: [+254707240657]
