Ch 12 Test Flashcards
1
Q
Link
A
https://quizlet.com/432803618/lesson-12-cumulative-quiz-flash-cards/
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
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.
