100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
Alabama Title Insurance Exam Prep 1 Latest Update Actual Exam 150 Questions and 100% Verified Correct Answers Guaranteed A+ Verified by Professor$20.99
Add to cart
Alabama Title Insurance Exam Prep 1 Latest
Update 2024-2025 Actual Exam 150 Questions
and 100% Verified Correct Answers Guaranteed
A+ Verified by Professor
- CORRECT ANSWER:
- CORRECT ANSWER:
"The invalidity or unenforceability of any assignment of the insured mortgage, provided
the assignment is shown in Schedule A, or the failure of the assignment shown in
Schedule A to vest title to the insured mortgage in the named Insured assignee free and
clear of all liens" is a _____ under the loan policy.
Condition
Requirement
Covered Risk
Exclusion from Coverage - CORRECT ANSWER: Covered Risk
"The lack of priority of the lien of the insured mortgage upon the title over any other lien
or encumbrance" is a _____ under the loan policy.
Covered Risk
Exclusion from Coverage
,Condition
Schedule B Exception - CORRECT ANSWER: Covered Risk
A contract must set forth the name of the _____ which the title agent will compare to the
name of the grantee on the last deed of record.
Seller
Buyer
Lender
Realtor - CORRECT ANSWER: Seller
A deed, which does not stipulate that conveyance is subject to mineral rights held by the
grantor or another, is deemed to convey:
Surface rights
Subsurface rights
Surface rights subject to subsurface rights
Surface and subsurface rights - CORRECT ANSWER: Surface and subsurface rights
A file control sheet or electronic file tracking system results in improvements in:
I. Quality control
,II. Time management
III. Customer service
IV. Cost averaging
I, II
II, III
I, II, III
I, II, III, IV - CORRECT ANSWER: I, II, III
A grantee must be a legally existing person or entity capable of _____ for title to convey.
Holding title
Encumbering title
Conveying title
Exercising title - CORRECT ANSWER: Holding title
A leasehold estate is a/an _____ estate which is insurable.
Fee
Equitable
, Remainder
Entireties - CORRECT ANSWER: Equitable
A title agent's main fiduciary responsibility is to the:
Buyer
Seller
Lender
Title Insurer [Underwriter] - CORRECT ANSWER: Title Insurer [Underwriter]
A title commitment is effective only when the following information is inserted in
Commitment Schedule A. Which of the following does NOT appear on Schedule A?
Identity of the proposed Buyer [OP]
Amount of policy/policies committed for
Identity of the proposed Lender [LP]
Exceptions from coverage - CORRECT ANSWER: Exceptions from coverage
A township section is one square mile and contains _____ acres.
230
640
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 Tutordiligent. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $20.99. You're not tied to anything after your purchase.
