Exam (elaborations)
Exam-Alabama Title Insurance Act (ATIA);Questions & Answers
- Course
- Institution
Exam-Alabama Title Insurance Act (ATIA);Questions & Answers
[Show more]
Content preview
Exam-Alabama Title Insurance Act (ATIA);Questions &Answers
Under the Alabama Title Insurance Act, no title insurer shall pay, directly or indirectly, any
portion of a fine imposed on any ____________ of the title insurer. Correct Answer-agent
Under the ATIA, the commissioner shall retain the authority to enforce the provisions of and
impose any penalty or remedy authorized by the ATIA or elsewhere in Title 27 against any
person who is ________ of the act or title 27 even if the person's license or registration has
been surrendered or has expired by operation of law. Correct Answer-under investigation
for or charged with a violation.
Under ATIA, if from any examination of a title insurer, the commissioner finds that a title
insurer is violating any of the provisions of Section 34-3-7, the commissioner shall so certify
his or her findings in writing to the ________, who shall forthwith bring an action in a court of
competent jurisdiction in the state of Alabama to permanently enjoin the commission of such
acts by the title insurer. Correct Answer-Attorney General
Under the ATIA, an individual who has taken and failed to pass two title insurance agent
examinations may not retake the exam until after the expiration of ___ months from the date
of the last examination which the individual failed to pass. Correct Answer-3
, Exam-Alabama Title Insurance Act (ATIA);Questions &
Answers
Under the ATIA, before approving the application for a title insurance agent license, the
commissioner shall find that the individual is at least 19 years of age and is a bona fide
resident and citizen of Alabama a full-time employee of a duly licensed _________ whose
principal place of business is physically located in Alabama. Correct Answer-Title insurance
agent
Under ATIA, a notice of availability of owner's title insurance must contain the address or
legal description of the property, along with the disclosure of the availability of such
insurance and the title insurance premium. Which of the following is NOT required by the Act
as to such written notice?
a) The date the notice is executed by the purchaser
b) Space for the purchaser to order a simultaneous-issue loan policy
c) Space for the purchaser to either acquire or decline owner's coverage
, Exam-Alabama Title Insurance Act (ATIA);Questions &
Answers
d) Signature of the purchaser or purchasers Correct Answer-b) Space for the purchaser to
order a simultaneous-issue loan policy
Under ATIA, an individual who holds a title insurance agent license shall satisfactorily
complete a minimum of ______ hours of continuing education courses approved by and
reported to the commissioner on a biennial basis in conjunction with the license renewal
cycle. Correct Answer-24
Under ATIA, a title insurance agent must inform the commissioner of a change in legal name
or address within ________ days of the change in a manner prescribed by the commissioner.
Correct Answer-30
Under ATIA, the commissioner may in his or her discretion and upon good cause shown,
revoke the license issued to a: Correct Answer-Title insurer
Under ATIA, a failure by the title insurance agent to timely inform the commissioner of a
change in legal name or address shall result in a penalty of ____. If the penalty is not paid
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TheeGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now