Loan signing notary questions and answers already passed

Loan signing notary questions and answers already passed What is a notary public? A notary public is an official appointed by the county or state after his/her documents and examination results indicate his/her suitability for the job. A notary public has power to: Administer an oath and affirmations and take depositions and affidavits; Certify copies of power of attorney; Issue protest bills in cases of non-payment or non-acceptance of foreign and inland bills of exchange; Issue acknowledgements in the cases of health-care directives, powers of attorney, mortgages, deeds, grants, transfers, and other such instruments signed by any individual who can establish his/her identity. Wha is a Surety Bond? The surety bond protects the public against any notarial act completed improperly, illegally, or negligently by the notary. It is important to note that the notary bond is not an insurance policy for the notary. It is designed only to provide a limited fund for paying out in claims against him. The notary remains personally liable to the full extent of the damage sustained and may be required to reimburse the bonding company for sums paid by the company because of misconduct or negligence of the notary public. The notary bond protects the public against a notary's misconduct or negligence; however, it does not protect the notary. The bond provides coverage for damages to anyone who suffers financially due to a blunder on the part of a notary - whether intentional or not. The guaranteeing company will seek compensation from the notary for any damages it has to pay out on the notary's behalf. What is Errors and Omissions Insurance? Notaries are liable for any improperly-executed notarial act. Errors and omissions insurance is not a legal requirement, but it is a good idea to have it in order to protect the notary. In the acknowledgment, the notary public certifies that The signer personally appeared before the notary public on the date and in the county indicated The signer has been identified by the notary through either personal knowledge or satisfactory evidence The signer's acknowledgment executes the document The notary completing an acknowledgment should know whether the signer will sign in his/her presence or if the signer will arrive with a document already signed. In the latter case, the notary must ask the signer to acknowledge that he/she signed the document. The notary also must check whether the document has blank spaces or is incomplete, because it is illegal to notarize documents that are blank or incomplete. How should a notary Verify Identity It is the job of the notary to verify the identity of the signer; his/her identity could be verified by personal knowledge or satisfactory evidence. Either way, the notary must write on the journal how he/she has identified the signer. What are the Notary Acknowledgment Responsibilities A notary public cannot provide a certificate of acknowledgment if the signer does not personally appear in front of him/her, even if the signer is known by the notary public. A notary is responsible for filling out the certificate of acknowledgment at the time he/she signs it and affixes the seal. Each time the notary places his/her seal and signature onto a document, he/she also must affix the appropriate notarial wording. If