Title Insurance Exam Questions and Answers 100% Correct
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Course
Title Insurance
Institution
Title Insurance
Title Insurance Exam Questions and Answers 100% Correct Title Insurance Exam Questions and Answers 100% Correct Title Insurance Exam Questions and Answers 100% Correct Title Insurance Exam Questions and Answers 100% CorrectWhich of the following statements is true?
A domestic company is one char...
Title Insurance Exam Questions and
Answers 100% Correct
Which of the following statements is true?
A domestic company is one chartered in this country.
B. a foreign company is one chartered in another country
C. an alien company is one chartered in another state
D. a certificate of authority is used to companies authorized to transact business in the state -
ANSWER - D
Which of the following clauses would not be found in a title insurance contract?
A. A co insurance clause
B. A defeasance clause
C. A subrogation clause
D. An apportionment clause - ANSWER - A
The conditions in a Alta policy would require that the insured notify the company of a claim
within what period of time?
A. Promptly
B. Within 120 days
C. As soon as the judgment is filed
D. There is no such requirement - ANSWER - A
Under the terms of the Alta policy which of the following would a lender insured be able to do
that an owner insured could not?
A. File a claim for unmarketability of the title
B. Improve he property
C. Assist the company in defending a claim
, D. Assign the policy - ANSWER - D
In New Jersey title insurance companies are not required to do which of the following?
A. Become a member of a reading bureau in order to file their forms and rates
B. File their forms with the New Jersey Department of insurance before using them.
C. Maintain loss reserves
D. Maintain evidence of having exercise sound underwriting practice for at least 15 years -
ANSWER - A
Which of the following best describes title insurance?
A. A contract that guarantees and owner of land that all governmental police powers have been
properly exercise and disclosed of record.
B. A contract with indemnifies an owner of land against loss or damages from defects and title
subject to the terms of the policy.
C. A contract of adhesion which indemnifies owners of land against fraud.
D. An indemnification contract that's protects insurers from losses resulting defects in title
originating after the policy is issued. - ANSWER - B
Which of the following may be covered under a lenders policy but never under an owners
policy?
A. Loss resulting from the lack of the right of ingress to the property.
B. Loss resulting from the existence of a tax lien that attached prior to the insurance of the
policy
C. Loss resulting from a mechanic lien for work commencing after the issuance of the policy.
D. Loss resulting from a faulty deed in the chain of title. - ANSWER - C
Which of the following exclusions would be found in a lenders policy but not an owners policy?
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