Ch 12 Test Flashcards

1
Q

Link

A

https://quizlet.com/432803618/lesson-12-cumulative-quiz-flash-cards/

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Which of the following is not a requirement for a valid escrow?

Enforceable contract
Irrevocable deposit
Escrow agent
Payment of escrow fee

A

Payment of escrow fee

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Which of the following is a legal action by a title insurer in California?

a) Charging less than the price on a rate schedule submitted to the Commissioner
b) Charging to prepare a preliminary report
c) Not submitting financial reports to the Commissioner
d) offering a kickback

A

C

Explanation: A title insurance company is prohibited from preparing a preliminary report for free, so it must charge to prepare the report. The fee is usually included in the premium, if the policy is issued.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly