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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

Exam (elaborations)

Alabama Title Insurance Exam Prep 1 Latest Update Actual Exam 150 Questions and 100% Verified Correct Answers Guaranteed A+ Verified by Professor

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  • Course
  • Alabama Title Insurance
  • Institution
  • Alabama Title Insurance

Alabama Title Insurance Exam Prep 1 Latest Update Actual Exam 150 Questions and 100% Verified Correct Answers Guaranteed A+ Verified by Professor

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  • August 27, 2024
  • 62
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Alabama Title Insurance
  • Alabama Title Insurance
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Tutordiligent
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

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