Question 1

Which of the following is considered an involuntary lien?

Options :

A : HELOC loan

B : deed restriction

C : a life estate reservation

D : federal tax lien

Answer: D

Question 2

The sale of a property was subject to the buyer's being able to assume an existing loan on the property. Upon examination, the note was found to contain a clause that prohibited the assumption of the loan. The clause was

Options :

A : a due-on-sale clause.

B : an assumption clause.

C : a prepayment clause.

D : a subordination clause.

Answer: A

Question 3

An insurer charges a higher premium for insurance because of someone's race, marital status, or age. This is an example of

Options :

A : rebating.

B : unfair discrimination.

C : illegal inducement.

D : unfair coercion.

Answer: B

Question 4

Which of the following is NOT the responsibility of the Notary Public when taking an acknowledgment on a Deed, Mortgage or Deed of Trust?

Options :

A : affix his or her official stamp

B : sign his or her name on the witness line

C : list the expiration date of his or her commission

D : obtain proper identification from all signers

Answer: B

Question 5

Which section of a title insurance policy lists the rights of the insurer?

Options :

A : exclusions from coverage

B : insuring agreement

C : conditions

D : declarations

Answer: C

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