Title insurance company - Study guides, Class notes & Summaries

Exam FX Insurance- Wisconsin Life questions (Answered). 100% Accurate, Graded A An insurer decides to renew a policy but at a higher premium rate, starting on the renewal date. How many days in advance must the insured be notified? a) 30 b) 60 c) 90 d) 100 - -b How is the Commissioner of Insurance placed in office? a)By NAIC nomination b)Through a bid process c)An election at the same time that other state officials are selected d)An appointment by the Governor - -d An ins...

Title & Escrow - Answer-Escrow and title insurance typically go hand-in-hand together in real estate sales or financing types of transactions. Many times, a title insurance company will offer escrow services as well, or escrow can be offered by a separate company dedicated solely to escrow functions. Escrow is a designated and neutral third party firm that collects money and paperwork from all sides in the real estate transaction prior to making any necessary payoffs to the sellers and exist...

Champions Real Estate Finance graded A+ already passed 2023Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers ...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

What is the 1st offense penalty for engaging in the practice of residential building without a license? - Answer Not less than $5K and not more than $25K and/or 1 year What is the penalty for engaging in the practice of residential building, resulting in a death? - Answer Not less than $5K and not more than $50K and/or 4 years On your individual builder's license application, what should you write as your "business address"? - Answer Your personal address What is the cost of the indi...

Chapter Nine: The New Jersey Title Insurance Act 2024 When a licensed rating organization changes its list of members and subscribers, it must notify the Commissioner: - CORRECT 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...

NEW JERSEY TITLE PRODUCER 2024 Final Exam Q & A ALTA 1 - CORRECT ANSWER-Street Assessments ALTA 2 - CORRECT ANSWER-Truth in lending owners policy - CORRECT ANSWER-insures estates of ownership, remains constant over the life of the property. Covers property line disputes. A type of title insurance issued in the name of the property owner. Coverage runs from the time of purchase for as long as the policyholder owns the property. mortgage lender policy (loan policy) - CORRECT ANSWER-lende...

An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of The insured and insurer An insurer gives which of the following as Consideration for an insurance policy? A Promise The interest of the insured and all other persons in the property involved in a claim is found in A Proof of Loss An insured rear-ends another driver's vehicle. The auto policy that pays damages to repair the damaged vehicle is a _______? Liability Policy Your ins...

Champions Powerhouse Training SAE 146 Questions with Verified Answers An area of neighborhoods or sub divisons that is serviced by your firm. - CORRECT ANSWER Geographic Farm A plan by which you develop to gain name recognition - CORRECT ANSWER Marketing Plan Becoming different in your approach through growth and development - CORRECT ANSWER differentiate All the properties in a particular price range, in the area your firm services - CORRECT ANSWER economic farm Words or cont...

Title & Escrow Questions with 100% Correct Answers Title & Escrow - Correct Answer ️️ -Escrow and title insurance typically go hand-in- hand together in real estate sales or financing types of transactions. Many times, a title insurance company will offer escrow services as well, or escrow can be offered by a separate company dedicated solely to escrow functions. Escrow is a designated and neutral third party firm that collects money and paperwork from all sides in the real estate tran...