ESCROW FINAL REVIEW Exam Questions And Answers (Verified And Updated)

ESCROW FINAL REVIEW Exam Questions And Answers (Verified And Updated) 50 When a buyer assumes an existing loan, he or she signs: - answerB. an assumption agreement with the lender. 51 If the buyer fails to perform in meeting the obligations under the loan the lender will probably file a: - answerNotice of Default 52 A resident can be protected from judgment that become liens by the acknowledgment recording - answerDeclaration of homestead 53 Which of the following is a reference point in CA - answerAll of the above. 54 The right of a landowner to use the water on, under, and adjacent to his or her land is known as a - answerRiparian rights 55 The rights to use water is considered of such primary importance that - answerD. Both A & B 56 The determining factor in preparing a second deed of trust is the - answerB. Time of Recording. 57 On any note - answerD. All of The Above 58 The effective date for the insurance must be - answerD. Both B & C are correct. 59 On the settlement sheet, the cash deposited in escrow is - answerA. Credited to the buyer. 60 Most commonly, the motivating reason for real property exchange is - answerC. Tax consideration 61 Which of the following types of property are typically exchange - answerD. All of the above 62 An even exchange can be effected - answerB. Both A & B are correct 63 The money or other (not like-kind) property that is given to make up any difference in value or equity between exchanged properties is called - answerB. Boot. 64 The broker will formalize the exchange with a type of deposit receipt - answerA. Exchange agreement