Title Insurance Licensing Exam Already Verified Questions and Answers

Title Insurance Licensing Exam All of the following are characteristic of an ALTA loan EXCEPT: A. Exceptions B. Exclusions C. Contingencies D. Conditions C. Contingencies The policy limit noted in a title insurance policy applies to: A. Each defect B. Each claim C. Per year D. Cumulative claims D. Cumulative claims Brainpower Read More Zoning ordinances are establish by: A. Home builders B. Local Government C. Lender D. All the above B. Local government A good faith estimate must be given to a purchaser of real property within: A. 5 days of receiving a loan application B. 4 days of receiving a loan application C. 3 days of receiving a loan application D. 2 days of receiving a loan application C. 3 days of reviewing a loan application The HUD-1 Settlement Statement is generally prepared by: A. The real estate agent B. The lender C. The title company D. The abstracor C. The title company If a joint tenant sells their interest in a property, the tenancy becomes: A. Tenants in common B. Sole owner C. Life estate tenant D. All of the above A. Tenants in common In Maryland, funds received by title companies form a sales transaction must be deposited into: A. An operating account B. An IOLTA account C. A trust account D. A general account C. A trust account A power of attorney ceases when: