TIPIC EXAM LATEST QUESTIONS WTH
CERTFIED ANSWERS
1. Giving something of value in exchange to an insured to induce the purchase of
an insurance policy is:
a.) fraud
b.) negligence
c.) rebating
d.) commingling - ANSWER→-rebating
2. The blocked person's list of specially designated nationals is maintained by:
a.) HUD
b.) FDIC
c.) Department of Treasury
d.) CFPB - ANSWER→-C - Department of Treasury
3. Pursuant to Maryland anti-rebating statue, the following items
cannot be given to a client as inducement for business:
a.) home warranty
b.) legal services
c.) uber rides
d.) all of the above - ANSWER→-D - All of The Above
4. Permissible promotional items used in marketing title insurance services
include:
a.) pens
b.) calendars
c.) mugs
d.) all of the above - ANSWER→-D - All of The Above
5. The loan estimate form must be given to consumers:
a.) At least 5 days after submitting a loan application
b.) At least 4 days after submitting a loan application
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, c.) At least 3 days after submitting a loan application
d.) At lease 2 days after submitting a loan application - ANSWER→-C - At Least
3 Days After Submitting a Loan Application
6. A producer may not knowingly offer, promise, or give any valuable
consideration not specified in the policy, except for education materials,
promotional materials, or articles of merchandise that cost no more than ____
regardless of whether a policy is purchased.
a.) $25
b.) $30
c.) $40
d.) $50 - ANSWER→-D - $50
7. Which pre-requisite is not required to become a title producer?
a.) Be at least 21 years of age
b.) Successfully pass an examination required by the Administration.
c.) Must possess the general fitness, competence and reliability sufficient to satisfy
the Insurance Department that the applicant is worthy of being licensed.
d.) Pay all appropriate fees - ANSWER→-A.) Be at least 21 years of age
8. The closing disclosure must be delivered:
a.) 3 business days before settlement
b.) 3 business days before disbursement
c.) 3 business days before application
d.) None of the above - ANSWER→-A - 3 business days before settlement
9. Pursuant to RESPA, the only thing of value that can be received by an affiliated
business in a title insurance transaction is:
a.) A kickback as defined by the business operating agreement.
b.) A fee as defined in the company's bylaws.
c.) A return on the ownership of the affiliate
d.) No return can be received - ANSWER→-c.) a return on the ownership of the
affiliate
10. RESPA applies to:
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CERTFIED ANSWERS
1. Giving something of value in exchange to an insured to induce the purchase of
an insurance policy is:
a.) fraud
b.) negligence
c.) rebating
d.) commingling - ANSWER→-rebating
2. The blocked person's list of specially designated nationals is maintained by:
a.) HUD
b.) FDIC
c.) Department of Treasury
d.) CFPB - ANSWER→-C - Department of Treasury
3. Pursuant to Maryland anti-rebating statue, the following items
cannot be given to a client as inducement for business:
a.) home warranty
b.) legal services
c.) uber rides
d.) all of the above - ANSWER→-D - All of The Above
4. Permissible promotional items used in marketing title insurance services
include:
a.) pens
b.) calendars
c.) mugs
d.) all of the above - ANSWER→-D - All of The Above
5. The loan estimate form must be given to consumers:
a.) At least 5 days after submitting a loan application
b.) At least 4 days after submitting a loan application
1
, c.) At least 3 days after submitting a loan application
d.) At lease 2 days after submitting a loan application - ANSWER→-C - At Least
3 Days After Submitting a Loan Application
6. A producer may not knowingly offer, promise, or give any valuable
consideration not specified in the policy, except for education materials,
promotional materials, or articles of merchandise that cost no more than ____
regardless of whether a policy is purchased.
a.) $25
b.) $30
c.) $40
d.) $50 - ANSWER→-D - $50
7. Which pre-requisite is not required to become a title producer?
a.) Be at least 21 years of age
b.) Successfully pass an examination required by the Administration.
c.) Must possess the general fitness, competence and reliability sufficient to satisfy
the Insurance Department that the applicant is worthy of being licensed.
d.) Pay all appropriate fees - ANSWER→-A.) Be at least 21 years of age
8. The closing disclosure must be delivered:
a.) 3 business days before settlement
b.) 3 business days before disbursement
c.) 3 business days before application
d.) None of the above - ANSWER→-A - 3 business days before settlement
9. Pursuant to RESPA, the only thing of value that can be received by an affiliated
business in a title insurance transaction is:
a.) A kickback as defined by the business operating agreement.
b.) A fee as defined in the company's bylaws.
c.) A return on the ownership of the affiliate
d.) No return can be received - ANSWER→-c.) a return on the ownership of the
affiliate
10. RESPA applies to:
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