KLTA Title Insurance Licensing Exam
Study online at https://quizlet.com/_gctom8
1. What is a Quit Deed used to release/relinquish a claim w/o making any warranties regarding the
Claim Deed? validity of such claim.
Does not warrant anything & gives least amount of protection.
2. What is the pur- To Issue Policy
pose of a commit-
ment?
3. What are the In- - Supervises
surance Commis- - Controls
sioner's responsi- - Regulates
bilities & powers? - Insurance businesses
- Makes rules & regulations
- Examinations
- Gives "orders"
- Issues licenses/certificates
4. What is an En- Any claim, lien or charge against real estate which reduces its value.
cumbrance?
5. What are valid - Trees
monuments for - Large Rocks
legal descrip- - Streams/banks
tions? - Section Corner
**Fence line is an "invalid" monument for legal.**
6. What is an invol- Mechanic or Construction Lien
untary lien?
7. What is Life Es- Ownership interest which transfers at the death of a named person.
tate?
, KLTA Title Insurance Licensing Exam
Study online at https://quizlet.com/_gctom8
8. What is an Exclu- Lack of access to Land
sion to Policy? **Non-access to property not covered by Policy**
9. What is consid- Forged Warranty Deed
ered "VOID" and
won't transfer?
10. Name 3 types of - Owner's Policy
Policies - Mortgage/Loan Policy-Lender Coverage
- Leasehold Policy - Commercial Property Lease
11. Examples of - Real Estate Taxes
Standard Excep- - Special Assessments
tions - Right of Possession
- Encroachments
- Easements
- HOA
12. How much % do 50%
you need to cover
risk?
13. When is a mort- 30 years after maturity
gage no longer a
lien?
14. What is Probate? Proving that a will is valid.
Any action over which a court has jurisdiction.
15. What is Fee Largest and most complete Ownership Interest which you can hold in real estate.
Simple Absolute
a/k/a "Fee Simple
Absolute Fee"
Study online at https://quizlet.com/_gctom8
1. What is a Quit Deed used to release/relinquish a claim w/o making any warranties regarding the
Claim Deed? validity of such claim.
Does not warrant anything & gives least amount of protection.
2. What is the pur- To Issue Policy
pose of a commit-
ment?
3. What are the In- - Supervises
surance Commis- - Controls
sioner's responsi- - Regulates
bilities & powers? - Insurance businesses
- Makes rules & regulations
- Examinations
- Gives "orders"
- Issues licenses/certificates
4. What is an En- Any claim, lien or charge against real estate which reduces its value.
cumbrance?
5. What are valid - Trees
monuments for - Large Rocks
legal descrip- - Streams/banks
tions? - Section Corner
**Fence line is an "invalid" monument for legal.**
6. What is an invol- Mechanic or Construction Lien
untary lien?
7. What is Life Es- Ownership interest which transfers at the death of a named person.
tate?
, KLTA Title Insurance Licensing Exam
Study online at https://quizlet.com/_gctom8
8. What is an Exclu- Lack of access to Land
sion to Policy? **Non-access to property not covered by Policy**
9. What is consid- Forged Warranty Deed
ered "VOID" and
won't transfer?
10. Name 3 types of - Owner's Policy
Policies - Mortgage/Loan Policy-Lender Coverage
- Leasehold Policy - Commercial Property Lease
11. Examples of - Real Estate Taxes
Standard Excep- - Special Assessments
tions - Right of Possession
- Encroachments
- Easements
- HOA
12. How much % do 50%
you need to cover
risk?
13. When is a mort- 30 years after maturity
gage no longer a
lien?
14. What is Probate? Proving that a will is valid.
Any action over which a court has jurisdiction.
15. What is Fee Largest and most complete Ownership Interest which you can hold in real estate.
Simple Absolute
a/k/a "Fee Simple
Absolute Fee"
