ESCROW FINAL REVIEW QUESTIONS AND ANSWERS 100% PASS
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Course
Escrow
Institution
Escrow
ESCROW FINAL REVIEW QUESTIONS
AND ANSWERS 100% PASS
50 When a buyer assumes an existing loan, he or she signs: - Correct Answer ️️ -B.
an assumption agreement with the lender.
51 If the buyer fails to perform in meeting the obligations under the loan the lender will
probably file a: - Corr...
ESCROW FINAL REVIEW QUESTIONS AND ANSWERS 100% PASS 50 When a buyer assumes an existing loan, he or she signs: - Correct Answer ✔️✔️-B. an assumption agreement with the lender. 51 If the buyer fails to perform in meeting the obligations under the loan the lender will probably file a: - Correc t Answer ✔️✔️-Notice of Default 52 A resident can be protected from judgment that become liens by the acknowledgment recording - Correct Answer ✔️✔️-Declaration of homestead 53 Which of the following is a reference point in CA - Correct Answer ✔️✔️-All of the above. 54 The right of a landowner to use the water on, under, and adjacent to his or her land is known as a - Correct Answer ✔️✔️-Riparian rights 55 The rights to use water is considered of such primary importance that - Correct Answer ✔️✔️-D. Both A & B 56 The determining factor in preparing a second deed of trust is the - Correct Answer ✔️✔️-B. Time of Recording. 57 On any note - Correct Answer ✔️✔️-D. All of The Above 58 The effective date for the insurance must be - Correct Answer ✔️✔️-D. Both B & C are correct. 59 On the settlement sheet, the cash deposited in escrow is - Correct Answer ✔️✔️-A. Credited to the buyer. 60 Most commonly, the motivating reason for real property exchange is - Correct Answer ✔️✔️-C. Tax consideration 61 Which of the foll owing types of property are typically exchange - Correct Answer ✔️✔️-D. All of the above 62 An even exchange can be effected - Correct Answer ✔️✔️-B. Both A & B are correct 63 The money or other (not like -kind) property that is given to make up any difference in value or equity between exchanged properties is called - Correct Answer ✔️✔️-B. Boot. 64 The broker will formalize the exchange with a type of deposit receipt - Corre ct Answer ✔️✔️-A. Exchange agreement 65 When an adjustment is listed to take effect called a (N) - Correct Answer ✔️✔️-B. Close of escrow: 66 If no defect are found in the tax sale proceeding, most title insurance companies will insure a property from a ta x sale after - Correct Answer ✔️✔️-C. One year 67 The main purpose of probate is to - Correct Answer ✔️✔️-D. All of the above 68 In the event of an absolutely even exchange which party's instructions should come first - Correct Answer ✔️✔️-C. It makes no d ifferent which party's instructions come first. 69 It is entirely proper for a broker to be paid by both parties whether it be an exchange or even a simple sale, provided - Correct Answer ✔️✔️-C. Both A & B 70 A review system that reminds you to check each periodically is called - Correct Answer ✔️✔️-A. A tickler file
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