Missouri Title Insurance Exam with accurate detailed answers

Missour i Title In sur ance Exam w ith |! |! |! |! |!




accur ate detailed an sw er s |! |!




_________ ____________ is the statement of the condition of title
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or ownership of real property. One-time only premium. Named insured
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and heirs are protected against title defects, liens, and encumbrances as
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of the date of policy. - Correct answer ✔Title Insurance
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The ______________ is a contract with a title company to issue a
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specific title policy, showing only those exceptions contained in the
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commitment and any intervening matters after the date of the
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commitment and prior to the effective date of the policy. This contains
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all information included in the preliminary title report, plus a list of
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requirements to insure the transaction and standard exceptions from
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coverage. - Correct answer ✔Binder/Commitment
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An _____________ is an addition to or modification of a title
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insurance policy which expands or changes coverage of the policy
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fulfilling specific requirements of the insured. - Correct answer
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✔Endorsement - on test |! |! |!




An ____________ is a provision in a title insurance policy that
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excludes liability for a specific title defect or an outstanding lien or
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encumbrance, such as easements and restrictions. - Correct answer
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✔Exception

, _____________ are conditions in a title insurance binder that must be |! |! |! |! |! |! |! |! |! |!




met or otherwise cleared before title can be insured and a policy can be
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issued. - Correct answer ✔Requirements
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An ______________ is anything which affects or limits the fee simple
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title to property, such as mortgages, easements, or restrictions which do
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not prevent alienation of the fee title by the owner. - Correct answer
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✔Encumbrance



_________________ occurs when a structure is built in whole or part |! |! |! |! |! |! |! |! |! |!




on a neighbors property. Disputes arising from a confusion of
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boundaries may be the result of incorrect surveys, or mistakes by
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builders and/or owners when erecting an improvement and may be
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generally settled by an action at law. - Correct answer ✔Encroachment -
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on test
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___________ _____________ protect individuals and organizations |! |! |! |! |! |!




from financial loss by assuming risk. - Correct answer ✔Insurance
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companies



_______________ are those who must decide whether to issue the |! |! |! |! |! |! |! |! |! |!




policy, the appropriate premium to charge, and write policies that cover
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these risks. - Correct answer ✔Underwriters
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____________ of _______ is the history of passing of title ownership |! |! |! |! |! |! |! |! |! |! |!




from the present owner back to the original owner. They include
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notations of deed, distributions from estates, certificate of death,
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