Title Insurance Exam Questions and Answers 100% Correct
0 view 0 purchase
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?
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 Crystall. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
