Missouri Title Producer Exam Questions and Answers |Complete Solutions
Graded A+ |100% Correct
Independent Administration If a person dies testate, and the will instructs for an
independent third party, this type of representation or executor will be appointed and
approved by the court, and this person may dispose of the estate's property how they see fit
without the court's approval.
Governor Who appoints the Director of Insurance, Financial Institutions and Professional
Registration (DIFP)?
Curative Order What type of order directs a person to take necessary action to comply with
insurance laws?
Certified Funds United States currency, funds conveyed by a cashier's check, certified check,
teller's check, as defined in Federal Reserve Regulations, or wire transfers.
Settlement Agent A person, corporation, partnership, or other business organization which
accepts funds and documents as fiduciary for the buyer, seller or lender for the purposes of
closing a sale of an interest in real estate located in the State of Missouri.
Closing and Settlement Fees The State of Missouri does not have filing requirements with
regard to these type of fees.
Cashier's Check A kind of check drawn on the financial institution, which is signed by only an
officer or employee of such institution and is a direct obligation of such an institution.
Cease and Desist Order A document designed to stop a person/entity from engaging in an
act, practice or omission, or course of business.
Fee Simple Determinable What form of interest has a possibility of reverter?
,Title Plant An index of records of a county which imparts constructive notice to purchasers
of real property, which encompasses at least the most recent forty-five years.
Modern Practices of Securing Title Insurance What makes the importance of express and
implied warranty and deed less important?
Conveys and Warrants If a deed is intended to be a General Warranty Deed it should be
attained for as specified by state law such as the phrase ______________ _________________.
Judicial and Power of Sale What two types of foreclosures does Missouri permit?
ALTA Short-Form Residential Loan Policy A common type of policy requested by lenders that
may be issued quickly, without recording information and has built-in endorsements available
for the policy writer.
Transcript Judgment A judgment entered in other jurisdictions, such as Associate Circuit,
Small Claims, or other counties, may be transcribed into Circuit Court. This type of judgment is a
lien against real property.
Restrictive Covenants What is another name for Restrictions?
Legal Description A description of land recognized by law based on government surveys,
spelling out the exact boundaries of the entire piece of land. It should so thoroughly identify a
parcel of land that it cannot be confused with any other.
Operative Words of Conveyance The phrase "conveys and warrants" carries with it several
warranties which the grantor is making to the grantee. What is this phrase known as?
, Closing Protection Fee The consideration paid by or on behalf of the buyer, borrower, lender
or seller for a closing protection letter calculated from the rate filed with the Director.
Material Transaction A single transaction with a monetary value of $100 or more, or the
aggregate of any series of transactions with a monetary value of $600 or more, during the
reporting period and which are between the agency and a party with financial interest in the
agency or in which the agency holds a financial interest.
Price Estimate A good faith estimate or prediction of prices based upon information
presented at the time of the estimate.
Alien Title Insurer Any title insurer incorporated or organized under the laws of any foreign
nation or any province or territory thereof.
Applicant A person, whether or not a prospective insured, who applies to a title insurer or
title agent, or agency, for a title insurance policy and who, at the time of the application, is not
a title agent or agency.
Approved Attorney An attorney at law who is not an agent or employee of a title insurer,
and whose certification as to status of title to a title insurer is willing to accept as the basis for
issuance of its title insurance policy.
Controlled Business Any portion of a title insurer's title agency's, or title agent's business of
title insurance in this state, referred to by any producer of title business or by any associate of
such producer, where the producer of title business, the associate or both, have a financial
interest in the title insurer, title agency, or title agent to which business is referred.
Domestic Title Insurer A title insurer organized under the laws of this state.
Escrow, Settlement or Closing Fee The consideration for supervising the actual execution,
delivery, or recording of transfer and lien documents and for dispersing funds.
Graded A+ |100% Correct
Independent Administration If a person dies testate, and the will instructs for an
independent third party, this type of representation or executor will be appointed and
approved by the court, and this person may dispose of the estate's property how they see fit
without the court's approval.
Governor Who appoints the Director of Insurance, Financial Institutions and Professional
Registration (DIFP)?
Curative Order What type of order directs a person to take necessary action to comply with
insurance laws?
Certified Funds United States currency, funds conveyed by a cashier's check, certified check,
teller's check, as defined in Federal Reserve Regulations, or wire transfers.
Settlement Agent A person, corporation, partnership, or other business organization which
accepts funds and documents as fiduciary for the buyer, seller or lender for the purposes of
closing a sale of an interest in real estate located in the State of Missouri.
Closing and Settlement Fees The State of Missouri does not have filing requirements with
regard to these type of fees.
Cashier's Check A kind of check drawn on the financial institution, which is signed by only an
officer or employee of such institution and is a direct obligation of such an institution.
Cease and Desist Order A document designed to stop a person/entity from engaging in an
act, practice or omission, or course of business.
Fee Simple Determinable What form of interest has a possibility of reverter?
,Title Plant An index of records of a county which imparts constructive notice to purchasers
of real property, which encompasses at least the most recent forty-five years.
Modern Practices of Securing Title Insurance What makes the importance of express and
implied warranty and deed less important?
Conveys and Warrants If a deed is intended to be a General Warranty Deed it should be
attained for as specified by state law such as the phrase ______________ _________________.
Judicial and Power of Sale What two types of foreclosures does Missouri permit?
ALTA Short-Form Residential Loan Policy A common type of policy requested by lenders that
may be issued quickly, without recording information and has built-in endorsements available
for the policy writer.
Transcript Judgment A judgment entered in other jurisdictions, such as Associate Circuit,
Small Claims, or other counties, may be transcribed into Circuit Court. This type of judgment is a
lien against real property.
Restrictive Covenants What is another name for Restrictions?
Legal Description A description of land recognized by law based on government surveys,
spelling out the exact boundaries of the entire piece of land. It should so thoroughly identify a
parcel of land that it cannot be confused with any other.
Operative Words of Conveyance The phrase "conveys and warrants" carries with it several
warranties which the grantor is making to the grantee. What is this phrase known as?
, Closing Protection Fee The consideration paid by or on behalf of the buyer, borrower, lender
or seller for a closing protection letter calculated from the rate filed with the Director.
Material Transaction A single transaction with a monetary value of $100 or more, or the
aggregate of any series of transactions with a monetary value of $600 or more, during the
reporting period and which are between the agency and a party with financial interest in the
agency or in which the agency holds a financial interest.
Price Estimate A good faith estimate or prediction of prices based upon information
presented at the time of the estimate.
Alien Title Insurer Any title insurer incorporated or organized under the laws of any foreign
nation or any province or territory thereof.
Applicant A person, whether or not a prospective insured, who applies to a title insurer or
title agent, or agency, for a title insurance policy and who, at the time of the application, is not
a title agent or agency.
Approved Attorney An attorney at law who is not an agent or employee of a title insurer,
and whose certification as to status of title to a title insurer is willing to accept as the basis for
issuance of its title insurance policy.
Controlled Business Any portion of a title insurer's title agency's, or title agent's business of
title insurance in this state, referred to by any producer of title business or by any associate of
such producer, where the producer of title business, the associate or both, have a financial
interest in the title insurer, title agency, or title agent to which business is referred.
Domestic Title Insurer A title insurer organized under the laws of this state.
Escrow, Settlement or Closing Fee The consideration for supervising the actual execution,
delivery, or recording of transfer and lien documents and for dispersing funds.
