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Chapter Nine The New Jersey Title Insurance Act Exam Questions and Complete Solutions Graded A+
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Chapter Nine The New Jersey Title Insurance Act Exam Questions and Complete Solutions Graded A+
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Chapter Nine The NewJersey Title Insurance Act
Exam Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
, When a licensed rating organization changes its list of members and subscribers, it must notify the
Commissioner: - Answer: Promptly
If the rates and charges for "personal or controlled insurance" from any one source is issued in any one
calendar year received by a title insurance company or by a title insurance agent exceeds _______, or
from all such sources exceeds ________ of the total rates and charges received by the title insurance
company or by such title insurance agent for title insurance issued in the same year, the excess is
deemed to be an unlawful rebate. - Answer: 25%; 50%
The insured on the title policy the agent wrote is a person that owns 70% of the voting stock of the title
insurer. This policy is: - Answer: Personal or controlled insurance of the agent
The Commissioner approves rates that are: - Answer: Not inadequate for the safeness and soundness
of the insurer
A title insurer is domiciled in Massachusetts, and does business in Massachusetts, New Jersey and
Virginia. How much must it have on deposit for the security and protection of its policyholders or
beneficiaries under title policies according to the New Jersey Title Insurance Act? - Answer: $200,000
If the Commissioner has reason to believe that any title insurance agent has violated and is violating any
of the provisions in the Title Insurance Act pertaining to the payment of inducements, rebates or
reduced fees, the Commissioner will then: - Answer: Examine the title insurance agent's books of
account and record and vouchers pertaining to the business of title insurance.
Unless an applicable endorsement has been filed and approved by the Commissioner, a title insurer
_____________ delete or insure over an exception to or exclusion from coverage that is contained in
forms of title insurance filed with the Commissioner. - Answer: may not
Funds over and above minimum capital, other than the statutory premium reserve, may be retained as
cash on hand or on deposit in banks, or may be invested in any of the following classes of investments,
except: - Answer: Corporate stock or shares of any solvent corporation incorporated under the laws of
any country in the European Union
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