Exam 10: The Role of Escrow and Title Insurance Companies

Title insurance rates are set by:

Extended coverage title policies are usually requested by:

A loss in value because of a busy street is an example of:

A standard title insurance policy insures against:

The appraisal principle that states that the value of a property is dynamic, not static:

For an escrow to be valid, there must be a:

An appraisal is good for what amount of time

A history of title transfers for a particular parcel of land is a/an:

Termination of an escrow can occur:

An example of functional obsolescence would be

Which of the following is normally paid by the seller?

The most extensive title coverage would be:

Which law requires the escrow officer to prepare HUD-1 closing statements?

Sales price $295,000, buyer puts on new 80% loan and pays 1% loan fee, $45 tax service fee, $400 tax prorations, $175 structural pest control inspection fee, $20 credit report, $20 recording fees, $910 hazard insurance fee, and a $600 escrow fee. How much will the buyer need to close escrow?

With the approval of all parties, real estate brokers can act as escrow holders in transactions in which they have the:

Which insurance policy requires the title company to make a physical inspection of the property?

The market approach would be given the most weight if appraising a:

Real estate loan payments and income tax depreciation deductions are not considered operating expenses.

Who decides what title company to use?

With a gross annual multiplier of 12, a duplex that rents one unit for $575 per month and the other for $625 should have an estimated value of: