Exam (elaborations)
MD Title Insurance producer questions with Solutions
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MD Title Insurance producer questions with Solutions
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MD Title Insurance producerquestions with Solutions
Title insurance producer independent contractor means a person is all of
these except:
A. Is licensed to act as a title insurance producer.
B. Is distinguished from another business, occupation, or person.
C. Provides escrow , closing, or settlement services that may result in
issuance of a title insurance contract as an independent contractor for, or on
behalf of , a license and appointed title insurance producer.
D. Is not an employee of or associated with, the licensed and appointed title
insurance producer. - - B. Is distinguised from another business, occupaton,
or person.
- 2. Title insurance producers may not convert or misappropriate funds held
in escrow or trust while:
A. Soliciting, procuring, or negotiations title insurance contracts.
B. Performing escrow, closing, and settlement services.
C. A title insurer
D. A and B
E. B and C
F. C and A
G. All of the above. - - D. A and B
- 3. A bond or letter of credit required in addition to meeting any applicable
requirements for a license to act as and insurance producer under this
subtitle, a sole proprietor, a limited liability company, a partnership, or a
corporate applicant for a license as a title insurance producer shall file file
with commissioner:
A. A blanket fidelity bond covering appropriate employees and title insurance
producer independent contractors.
B. Notary commission.
C. A blanket surety bond
D. A letter of credit.
E. A, B, and C.
F. B, C, and D.
G. A, C and D. - - G. A, C and D.
- 4. How many days a surety insurer have to notify the title insurance
producer and the Commissioner before canceling a bond or letter of credit?
A. At least 30 days
B. At least 45 days
C. At least 90 days
D. At least 60 days - - A. At least 30 days
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