Missouri Title Insurance Act Exam (practice test) XAM
2026/2027 PRACTICE QUESTIONS UPDATED STUDY
GUIDE ACCURATE EXAM APPROVED QUESTIONS AND
CORRECT VERIFIED ANSWERS WITH DETAILED
RATIONALES (A NEW UPDATED VERSION 2026
EDITION) |ALREADY GRADED A+ (BRAND NEW!)
Missouri Title Insurance Act
What is the name of the Missouri statutory chapter - Ch. 381 -
governing the "title insurance" business?
Preliminary report
Commitment
Binder
According to Section 381.015, RSMO, a "title insurance commitment" is
also known as: (3)
Give written notice on an approved form to the purchaser that the
Loan Policy does not cover the purchaser and that purchaser has
60 days to purchase an Owner's Policy
On a "purchase transaction" where a LOAN POLICY is required by the
purchaser's lender, what is the obligation of the title agency if the
buyer DOES NOT request a simultaneously-issued owner's policy?
,15 years
The NOTICE OF PURCHASER'S RIGHTS TO PURCHASE AN OWNER'S
POLICY - issued in situations where the purchaser has decided to not
purchase an Owner's Policy - must be retained in the "underwriting
file" for what period of time?
False
T/F
A title insurer (title underwriter) may allow an agency or title
agent to issue its title commitments and policies even if the insurer
does not have a written contract with the title agency
False
T/F
An agreement between a title agent and a title insurer, whereby the
title insurer authorizes the title agent to issue its commitments and
policies, DOES NOT have to be in WRITING
False
T/F
An underwriter/insurer may enter into an agreement with a title
agent, allowing the agent to issue the underwriter's commitments
and policies, before the title agent is licensed with the State of
Missouri
, 7 days
If a title insurer/underwriter terminate its agreement with a title
agency, the insurer has how many days to notify the Director of the
Department of
Insurance of the reasons for the termination?
- Premium (risk-rate)
- Abstract or title search and exam fees
- Settlement, escrow, or closing fees
According to Section 381.019, RSMO, a title insurer, title agency or title
agent must provide "clear, conspicuous and distinct disclosure of
premiums and
charges"
Specifically, the charges should be referenced in what category(ies)?
(3)
the close of the second business day after receipt
Funds deposited with a title agency must be deposited into a
"Qualified Depository Institution" no later than (?)
True
T/F
Funds deposited with the title agency must be held in a manner that
permits the funds to be identified on an individual basis and in
accordance with the terms of the written instruction or
agreements under which the funds were accepted
2026/2027 PRACTICE QUESTIONS UPDATED STUDY
GUIDE ACCURATE EXAM APPROVED QUESTIONS AND
CORRECT VERIFIED ANSWERS WITH DETAILED
RATIONALES (A NEW UPDATED VERSION 2026
EDITION) |ALREADY GRADED A+ (BRAND NEW!)
Missouri Title Insurance Act
What is the name of the Missouri statutory chapter - Ch. 381 -
governing the "title insurance" business?
Preliminary report
Commitment
Binder
According to Section 381.015, RSMO, a "title insurance commitment" is
also known as: (3)
Give written notice on an approved form to the purchaser that the
Loan Policy does not cover the purchaser and that purchaser has
60 days to purchase an Owner's Policy
On a "purchase transaction" where a LOAN POLICY is required by the
purchaser's lender, what is the obligation of the title agency if the
buyer DOES NOT request a simultaneously-issued owner's policy?
,15 years
The NOTICE OF PURCHASER'S RIGHTS TO PURCHASE AN OWNER'S
POLICY - issued in situations where the purchaser has decided to not
purchase an Owner's Policy - must be retained in the "underwriting
file" for what period of time?
False
T/F
A title insurer (title underwriter) may allow an agency or title
agent to issue its title commitments and policies even if the insurer
does not have a written contract with the title agency
False
T/F
An agreement between a title agent and a title insurer, whereby the
title insurer authorizes the title agent to issue its commitments and
policies, DOES NOT have to be in WRITING
False
T/F
An underwriter/insurer may enter into an agreement with a title
agent, allowing the agent to issue the underwriter's commitments
and policies, before the title agent is licensed with the State of
Missouri
, 7 days
If a title insurer/underwriter terminate its agreement with a title
agency, the insurer has how many days to notify the Director of the
Department of
Insurance of the reasons for the termination?
- Premium (risk-rate)
- Abstract or title search and exam fees
- Settlement, escrow, or closing fees
According to Section 381.019, RSMO, a title insurer, title agency or title
agent must provide "clear, conspicuous and distinct disclosure of
premiums and
charges"
Specifically, the charges should be referenced in what category(ies)?
(3)
the close of the second business day after receipt
Funds deposited with a title agency must be deposited into a
"Qualified Depository Institution" no later than (?)
True
T/F
Funds deposited with the title agency must be held in a manner that
permits the funds to be identified on an individual basis and in
accordance with the terms of the written instruction or
agreements under which the funds were accepted
