Title insurance producer Study guides, Class notes & Summaries

INDIANA LIFE AND HEALTH RULES AND REGULATIONS EXAM (2023/2024) RATED A+ Insurance Commissioner • Appointment by Governor • Member of NAIC Insurance commissioner Duties responsible for overseeing the Department of Insurance, which regulates insurance companies operating in Indiana. works to promote improvements to insurance laws and the enforcement of said laws in Indiana.[ Certificate of Authority Licensed companies receive a _______________________________ to conduct the business of insur...

NJ Title Insurance Exam updated 2023/24 Reloaded| 100% verified In 1869 in Paul vs Virginia case the the US Supreme Court ruled that insurance? - Was not interstate Commerce. In 1944, in the South-Eastern Underwritters Association (SEUA) case, the U.S. Supreme Court ruled that insurance? - Was interstate commerce and was subject to Federal regulation. The McCarran-Ferguson Act of 1945 states that individual states are subject to the authority of the? - Federal Government Activitie...

"A" and "B" bought a house as tenants in common. If "A" dies which of the following statements about ownership of the house is correct? A) It automatically becomes tenancy in severalty. B) It is divided, with B retaining their original interest and the balance going to A's estate. C) B holds fee simple ownership to A's share of the property D) B holds a life estate ownership to A's share of the property - CORRECT ANSWER-B) It is divided, with B retaining their original interes...

Quasi-Contract - A contract this is implied by law and a way for courts to correct or remedy a situation and to prevent unjust enrichment. Void for Vagueness - 1. An incomplete and uncertain contract based on vague terms --- which may be void 2. If a determination is not reached, the courts may void the contract or severe the terms. Statue of Frauds Includes: - - Contracts that cannot be performed in one year - Contracts for the sale of real estate, real property, or land. - Contracts ...

Title Producer Insurance: Title Insurance – Qs & As

NJ Title Insurance Producer Final Exam Set with Q&A "A" and "B" bought a house as tenants in common. If "A" dies which of the following statements about ownership of the house is correct? A) It automatically becomes tenancy in severalty. B) It is divided, with B retaining their original interest and the balance going to A's estate. C) B holds fee simple ownership to A's share of the property D) B holds a life estate ownership to A's share of the property - CORRECT ANSWER-B) ...

Title Insurance Producer: Questions & Accurate Answers (Pass!)

Title Insurance Producer; Questions and Answers 100% Solved What does ALTA mean? Correct answer-American land Title Association All of the following are characteristics of an ALTA loan policy Correct answer-Exceptions Exclusions Conditions Chain of Title Correct answer-A listing of the chronological order of conveyances of a parcel of land, from the original owner to the present owner. The policy limit noted in a title insurance policy applies to Correct answer-Cumulative Claims Clos...

Title Insurance Producer (Notes – Revised); Questions and Answers 100% Solved Schedule B1 of title commitment is reserved for Correct answer-legal requirements. Conditions that must be met prior to settlement and the issuance of a policy. example: execution/recording of deed payoff/release of mortgage What does ALTA mean? Correct answer-American land Title Association All of the following are characteristics of an ALTA loan policy Correct answer-Exceptions Exclusions Conditions Cha...

Affiliated Business Defined - any portion of a title agency's business written in this state that was referred to it by a producer of title insurance business or by an associate of the producer, where the producer or associate, or both, have a financial interest in the title agency Affirmative Easement - One in which the easement holder has a right to do something on another's land Agency - it is unlawful for any person to transact the business of title insurance unless they are authoriz...

Missouri Title Insurance Producer Exam Guaranteed Success Title Insurance Terms and Definitions 1. Title Insurance ️ - An insured statement of the condition of title or ownership of real property. For a one-time-only premium, the named insured and their heirs are protected against title defects, liens, encumbrances existing as of the date of the policy and not specifically excluded from it. In the event of a claim, the title company provides legal defense for the policyholder and pay...