Section 5 Get Organized Questions & Answers

Section 5 Get Organized Questions & Answers Even if your commissioning state doesn't require a notary to have an official seal, it is a good idea to affix your notary information on the notarial certificate with an ink stamp. True A Notary Public can be confident that a well-known stamp retailer or supplier will produce an expertly made Notary Public stamp that complies with the Notary's state law requirements. False If your state doesn't require notaries to use a journal or recordbook, it's recommended to save time at the signing by not utilizing a recordbook. False A well prepared signing agent should have a variety of loose notarial certificate forms in his briefcase or carryall. True It would be nearly impossible for a Notary Signing Agent to be competitive with other NSAs in today's market without a good quality computer or laptop and reliable, secure high-speed internet service. True To protect a borrower's sensitive information, a Notary Signing Agent should never share his or her computer or laptop with anyone else, even family members or housemates, and should use it solely for Signing Agent work. True Your ink jet printer will serve you well when printing a loan package from an email or download link. False Putting unused loan documents in the trash is an acceptable practice. False Even though loan documents are generally handled electronically, it's still advisable for a Notary Signing Agent's briefcase to include certain essentials for handling paper documents, such as paper clips, a stapler and remover, ink pens, etc. True As long as a Notary Signing Agent stores his or her computer or laptop in a locked room, there's little need to further protect the device with a password. False A Notary Signing Agent using his or her smartphone to photograph and securely email signed loan documents to the closing agent has chosen the most helpful method for accomplishing this task. False In a sole proprietorship, you are personally liable because you are inseparable from your business operations. True Most cities and many counties require all businesses, even tiny home-based sole proprietorships, to register with them and pay at least a minimum tax if applicable. True It is important to keep careful and accurate records of your expenses for income tax purposes. True For income-tax filing purposes, a Notary Signing Agent can expect to annually receive a Form 1099-NEC from hiring companies that paid the Notary any amount of fees over the prior year. False A Notary Signing Agent doing business as a sole proprietor is exempt from paying state or federal income taxes because the Notary Signing Agent is not an "employee." False A Notary Signing Agent should consult the Internal Revenue Service and an accountant to be absolutely sure that he or she understands applicable tax obligations and complies with federal income tax reporting requirements. True