Missouri title insurance - Study guides, Class notes & Summaries

Notary Test Complete Solutions How long is a notary's term of office? ️4 Years What is required amount of a notary bond? ️$10,000 The notary bond dates must be the same as the notary commission dates that are set by the Secretary of State. ️True Who gives the notary their oath of office? ️County Clerk The notary's signature must be exactly as it appears on the notary commission. ️True If someone works in Missouri and needs to notarize documents for work but lives in ...

Missouri Title Producer Exam; Questions and Answers 100% Solved Title Insurance Correct answer-An insured statement of condition of title or ownership of real property. Once Correct answer-How often can you charge for an insurance premium for title insurance? Owner's Policy Correct answer-A type of title insurance policy issued to the fee simple owner of a property which provides the insured coverage over the risks described in the policy. Commitment/Binder Correct answer-A document ...

Missouri Title Insurance Producer Exam Guaranteed Success Title Insurance Terms and Definitions 1. Title Insurance ️ - An insured statement of the condition of title or ownership of real property. For a one-time-only premium, the named insured and their heirs are protected against title defects, liens, encumbrances existing as of the date of the policy and not specifically excluded from it. In the event of a claim, the title company provides legal defense for the policyholder and pay...

Affiliated Business Defined - any portion of a title agency's business written in this state that was referred to it by a producer of title insurance business or by an associate of the producer, where the producer or associate, or both, have a financial interest in the title agency Affirmative Easement - One in which the easement holder has a right to do something on another's land Agency - it is unlawful for any person to transact the business of title insurance unless they are authoriz...

Title Insurance - correct answer -Insured statement of the condition of title or ownership of real property. For a one-time-only premium, the named insured and their heirs are protected against title defects, liens, encumbrances existing as of the date of the policy and not specifically excluded from it. In the event of a claim , the title company provides legal defense from the policyholder and pays any covered losses incurred as a result of such claim. Commitment/Binder 1 - correct answer -...

Missouri Title Insurance Producer Exam

Missouri Title Producer Exam Title Insurance Laws And Regulations – Q’s And A’s

Director- Examination of Records - correct answer -Within 60 days of the examination, the examiner must submit his report to the director for review. After a 30 day review period, there's allowance for rebuttals. Acknowledgement - correct answer -A formal declaration before an authorized officer by a person who has executed an instrument that such execution is his own act indeed. Necessary to entitle some instrument to be recorded to impart constructure, notice of its contents, and to entitl...

Missouri Title Insurance Producer Exam

Missouri Title Producer Exam Title Insurance Terms; 100% Solved Title Insurance Correct answer-Insured statement of the condition of title or ownership of real property. One-time only premium. Named insured and heirs protected against title defects, liens and encumbrances as of the date of policy. Commitment/Binder Correct answer-A binding contract with a title company to issue a specific title policy, showing only those exceptions contained in the commitment and any intervening matt...

Missouri Title Producer Exam Title Insurance Laws and Regulations; Questions and Answers 100% Solved Premium tax Correct answer-A type of indirect tax levied on general insurance premiums. Cashiers Check Correct answer-A check drawn on a financial institution. Certified funds Correct answer-A form of payment that is guaranteed to clear or settle by the company certifying the funds. Director Correct answer-The director of the department of insurance, financial and professional regulatio...