MD PRE-LICENSING TITLE INSURANCE EXAM STUDY GUIDE QUESTIONS FULLY SOLVED & UPDATED.

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MD PRE-LICENSING TITLE INSURANCE EXAM STUDY GUIDE QUESTIONS FULLY SOLVED & UPDATED.

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2024/2025

Institution Maryland Title Insurance Producer

Course Maryland title insurance producer

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MD PRE-LICENSING TITLE INSURANCE EXAM STUDY GUIDE QUESTIONS FULLY SOLVED & UPDATED.

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MD PRE-LICENSING TITLE INSURANCE EXAM STUDY GUIDE
QUESTIONS FULLY SOLVED & UPDATED.

1) Which of the following best describes race-notice?
t t t t t t t

A. Earliest dated document has priority t t t t

B. Latest dated document has priority t t t t t

C. First to record has priorityt t t t

D. Last to record has priority -- Correct Answer ✔✔ C. First to record has
t t t t t t t t t t t t t t

priority

2) The use of the closing disclosure form in 1 - 4 family residential transactions is required
t t t t t t t t t t t t t t t t

by t

A. RESPA/TILA
B. The option of the title company
t t t t t

C. The option of the county's clerk of the court
t t t t t t t t t

D. The option of the lender -- Correct Answer ✔✔ A. RESPA/TILA
t t t t t t t t t t

3) When paying off a line of credit or an open-end deed of trust during a real estate
t t t t t t t t t t t t t t t t t

transaction, the borrower must request in writing that the line of credit or account is
t t t t t t t t t t t t t t t

closed.

A. True t

B. False -- Correct Answer ✔✔ A. True t t t t t t

4) RESPA is an acronym for
t t t t

A. Real estate and sellers procedures act
t t t t t

B. Real estate and settlement and purchase act
t t t t t t

C. Real estate settlements and procedures act
t t t t t

, D. Real estate statement for purchasers act -- Correct Answer ✔✔ C. Real estate
t t t t t t t t t t t t t

settlements and procedures act t t t

5) Generally, all of the following are included in lender's instructions EXCEPT
t t t t t t t t t t

A. Loan terms t

B. Borrower's name t

C. Property address t t

D. Employment history of borrower -- Correct Answer ✔✔ D. Employment t t t t t t t t t t

history of borrower t t

6) Real property settlements are conducted by
t t t t t

A. Licensed title producers t t

B. Licensed loan officers t t

C. Title underwriters t

D. MIA designees -- Correct Answer ✔✔ A. Licensed title producers
t t t t t t t t t

7) ALTA is an acronym for
t t t t

A. American Land Title Association t t t

B. American Loan Transfer Association t t t

C. American Loan And Title Association t t t t

D. American Land Transfer Association -- Correct Answer ✔✔ A. American Land
t t t t t t t t t t t

Title Association t

8) All of the following information is found in schedule A of a title insurance policy
t t t t t t t t t t t t t t t

EXCEPT

A. Amount of insurance t t

B. Name of insured t t

C. Legal description t

D. Exceptions -- Correct Answer ✔✔ D. Exceptions t t t t t t

9) All of the following are contained in Schedule B of a title insurance commitment
t t t t t t t t t t t t t t

EXCEPT

, A. Requirements
B. Exceptions from coverage t t

C. Legal description t

D. Open mortgages -- Correct Answer ✔✔ C. Legal description
t t t t t t t t

10) Schedule BI of a title commitment is reserved for
t t t t t t t t

A. Exceptions to coverage t t

B. Requirements
C. Legal descriptions t

D. Endorsements to coverage -- Correct Answer ✔✔ B. Requirements t t t t t t t t

11) Attorneys licensed to practice before the Court of Appeal in Maryland are required to
t t t t t t t t t t t t t t

do the following to conduct real property settlements
t t t t t t t

A. Obtain a license from the MIA t t t t t

B. Take the pre-licensing course
t t t

C. Take the pre-licensing exam
t t t

D. Take a 30 hour self-study course -- Correct Answer ✔✔ A. Obtain a license
t t t t t t t t t t t t t t

from the MIA t t

12) A title insurance settlement officer represents
t t t t t

A. The title insurance company or underwriter
t t t t t

B. The borrower t

C. The lender t

D. The seller -- Correct Answer ✔✔ A. The title insurance company or
t t t t t t t t t t t t

underwriter

13) A HUD-1 settlement statement shows all of the following EXCEPT
t t t t t t t t t

A. Mortgage payments and due dates t t t t

B. Receipts and disbursements t t

C. Buyer and seller t t

D. Property address -- Correct Answer ✔✔ A. Mortgage payments and due dates
t t t t t t t t t t t

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Uploaded on: January 23, 2025
Number of pages: 21
Written in: 2024/2025
Type: Exam (elaborations)
Contains: Questions & answers

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