Chapter 3 Agency actual Questions with 100- correct verified answers.

Chapter 3 Agency actual
Questions with 100% correct
verified answers
Title coverage for the borrower's lender is called - answer Mortgagee's
title insurance.


Title insurance companies in Texas are regulated by the - answer NOT:
a. Texas Real Estate Commission.


b. Texas attorney general.


c. Texas Department of Assurance.


d. U.S. attorney general.


When an offer to purchase real estate in Texas is signed, a license holder
shall advise each buyer, orally or in writing, that the buyer must have an
abstract covering the real estate that is the subject of the contract
examined by an attorney chosen by the title company; or be provided with
a title insurance policy. [See TRELA §1101.555; §1101.806; and
§1101.652(b)(29)] - answer NOT:
a. The above is true only if the buyer pays for the title insurance or
abstract and attorney's opinion.


b. If the above notice is not given at least orally, the license holder is not
entitled to compensation.


c. A registered professional land surveyor should provide the abstract but
not the title insurance.