Exam (elaborations)
Escrow Sample Test – Utah Questions and Answers 100% Solved
- Course
- Institution
Escrow Sample Test – Utah Questions and Answers 100% Solved
[Show more]
Content preview
Escrow Sample Test – Utah Questionsand Answers 100% Solved
An escrow agent is required to have a:
A bond
A reserve fund for errors and omissions
An underwriter
a license ✔✔(D) a license
The fiduciary duties of an escrow agent shall include:
(Select all that apply)
explanation of Earnest Money Receipt contracts
,disclosure of defects in title and their acceptance or method of elimination
telling all he or she knows to keep the principals informed
holding all documents until properly directed as to their disposition
favoring the person who brings the escrow business to you ✔✔(C) telling all he or she knows to
keep the principals informed
(D) holding all documents until properly directed as to their disposition
A reasonable search and examination of the title need not be made, if:
there has recently been issued a policy of title insurance
needs to always be made on every escrow
directed by seller
approved by all parties to the escrow ✔✔(B) needs to always be made on every escrow
An 8.1 Endorsement covers:
matter pertaining to mineral rights
the interest of abutting property owners
protection against all environmental matters
the rights within an air-space
,protection against environmental liens ✔✔(E) protection against environmental liens
The certificate of completion of prelicensing education is valid for:
one year
three months
not required
two years ✔✔(C) not required
An alternative to the filing of a judicial action to settle a claim against a policy of title insurance
is called: ✔✔Arbitration
An Escow is an arrangement that:
(Select all that apply)
holds documents
holds funds
creates documents to affect a transfer of interest in a property
acts as an attorney
is responsible for guaranteeing funds ✔✔(A) holds documents
, holds funds
creates documents to affect a transfer of interest in a property
(E) is responsible for guaranteeing funds
When is it necessary to have closing documents recorded prior to the disbursement of escrow
funds?
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 TheeGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80796 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
