The Role of Escrow and Title Insurance Companies

Title insurance is not available if:

Impounds refers to:

Title plant refers to all records relative to real estate transactions in a:

A broker gets a deal into escrow. After all papers are signed, both the buyer and the seller die. The escrow agent should:

A title insurance company is least likely to physically inspect property for:

The signed escrow instructions disagree with the prior purchase contract. As to the disagreement, which of the following is true?

A preliminary title report:

The broker's commission is normally paid:

An escrow company may:

The exact history of vonveyances and encumbrances affecting title to a property is called:

The Rebate Law:

Which of the following may not engage in the escrow business?

A 30 day escrow cannot be completed during the set time.

Escrow would be automatically canceled by:

A standard policy of title insurance does not cover:

The files of a title company of recorded documents on microfilms are known as:

A fire insurance policy cost $360 for three years. Six-and-a-half months after the insurance policy is taken out, the building is sold, and the policy is assumed. On a closing statement.

Which of the following is not a credit in a seller's closing statement?

An escrow agent is most likely to get into trouble if he or she:

Which of the following, prorated, would be a credit on the seller's closing statement?

A buyer would get the least protection from:

Possesion in a real estate sale, in the absence of any aggreement, should be given:

A title company holding papers for an escrow is a(n):

An escrow officer alters a deed after it has been signed to convey property other than agreed.

Escrow companies are primarily under the jurisdiction of the:

Closing is scheduled for May 20, 2012; the second property tax installment has been paid. On the buyer's closing statement, taxes are:

In a buyer's closing statement, the selling price is:

In an escrow statement, the term recurring costs pertains to:

A buyer's escrow statement would not show:

The closing statements the buyer and seller get from escrow:

Who has primary responsibility for reporting sale information to the IRS?

A home is sold on August 31, with taxes being prorated.

An extended-coverage policy of title insurance does not cover:

On a real estate closing statement, prepaid rent is always a:

On aclosing statement, due and unpaid taxes would be:

Which of the following will not terminate an escrow?

A buyer assumes a trust deed. On the buyer's closing statement, it would be shown as a:

On a closing statement, an existing mortgage that is to be assumed by the buyer would be shown as:

An impound account would belong to:

The usual way for a buyer to ensure that he or she is getting marketable title is to obtain:

A broker can, without being licensed as an escrow, handle the escrows on transactions where he or she:

On an escrow the daily prorated charge for a three-year insurance policy costing $97.20 would be:

Recording costs on an escrow would be paid by:

Which of the following is not covered by an extended-coverage policy of title insurance?

To obtain marketable title, a person who is claiming his or her interest under adverse possession could:

A standard policy of title insurance covers:

A buyer would be protected against a right of a party in possession by:

A seller delivers a grant deed to escrow after escrow instructions have been signed. He asks that it be returned to him so that he can have an attorney check it.

An escrow prorates based on ___ days in a year.

An item such as "liens to be assumed by buyer" would be found in a seller's closing statement under:

Escrow closes on the 15th day of February (28 days). The seller receives $500 rent for the month of February. The seller:

In the absence of a closing date, the escrow should close:

The term binding contract and conditional delivery describes:

Which of the following is false?

A sale takes place on January 1. There is $1,800 in the impound account. Proration would be: