A+ Grades

Per the contract to buy and sell, the earnest money deposit will be held by A) the listing broker always. B) the buyer's broker until after the inspection. C) a third party, if agreed to by the parties. D) the title company always. - A third party can hold earnest money if the parties agree in the contract. Typically, a title company would act as the third party and will have similar rights and obligations as the brokerage firm in cases of dispute. The employing broker records an earne...

Per the contract to buy and sell, the earnest money deposit will be held by A) the listing broker always. B) the buyer's broker until after the inspection. C) a third party, if agreed to by the parties. D) the title company always. - A third party can hold earnest money if the parties agree in the contract. Typically, a title company would act as the third party and will have similar rights and obligations as the brokerage firm in cases of dispute. The employing broker records an earne...

What is an insurance solicitor authorized to do? - Help an agent or broker sell insurance According to the California Insurance Code, what is "insurance"? - A contract What does a Hospital Confinement indemnity policy pay for? - Pay a specified daily amount while the insured is confined to a hospital According to the California Insurance Code, how is the word "may" interpreted? - Permissive Which statement is CORRECT when describing a contract of adhesion? - Contract may be accepted or r...

How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 - 2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of premiums paid up to the current point B. a provision that allows the insured to cancel the policy in the first two years and have premiums refunded C. an increasing amount of term insurance that equals the ca...

The life insurance rider that pays the face amount plus the total premiums paid into the policy is known as: - Return of premium What kind of company can the Commissioner file a complaint to enjoin and restrain from continuing violations of the insurance regulations of Colorado? - Foreign or alien Does a loan on the cash value of a life insurance policy accrue interest, and if so, how is the interest handled? - Yes, the interest can be paid annually, or added to the loan. What approach calcul...

RESPA rules must be followed by A) brokers only. B) lenders only. C) title companies only. D) lenders, brokers, and title companies. - lenders, brokers, and title companies. The rule that keeps brokers in compliance with Conway-Bogue is A) Rule A. B) Rule C. C) Rule F. D) Rule E. - Rule F Sections or wording that parties agree to delete may be deleted by A) crossing it out so that the language is unreadable. B) the broker rewriting the language for the parties. C) crossin...

What method of settling a default involves a conveyance of title to the lender? - deed in lieu of foreclosure A way for the mortgagor (borrower) to avoid foreclosure. The borrower who is in default under the terms of the mortgage gives a deed to the lender - a deed in lieu of foreclosure When a promissory note is executed, it becomes - evidence of the debt The legal instrument that represents the primary evidence of a debt - promissory note A mortgage clause (in title theory states) that pro...

Title Theory - lender owns, borrower has equitable title Hypothecation - pledging property as collateral for a loan without giving up possession Mortgagee - Lender Mortgagor - borrower Non Judicial foreclosure - *CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after 125 days Strict foreclosure - No sale. Full legal title given to lender, loss of equity for borrower Judicial foreclosure - done through courts in *Title Theory states Conversion...

Acceleration Clause - Allows lender to demand immediate payment if borrower defaults. Adjustable Rate Mortgage - Loan with interest rate that can change over time. Alienation Clause - Allows lender to demand full payment if property is sold or transferred. Amortization - Gradual repayment of a loan through regular installments. APR - Annual Percentage Rate, including interest and fees. Arrears - Payment made after the due date. Balloon Payment - Large final payment at the end of a loan ter...

Which of the following should you offer a client, for draping, when waxing underarms? - Terry wrap Which of the following is a characteristic of a wax burn with some redness and irritation, but no blisters? - first degree burn All of the following require the use of gloves EXCEPT - plain manicure. Which is the proper way to wash hands? - Wet, lather, scrub, rinse, dry Which procedure would prepare implements that may accidentally be exposed to blood or body fluid? - Disinfection All of the ...