Escrow exam questions with answers
Usually the first step in the closing process is:
a. completing the settlement sheet.
b. collecting a commission.
c. checking title.
d. none of the above
a. completing the settlement sheet.
The oldest of "uniform laws" is:
a. the negotiable instruments law.
b. the commercial law.
c. the escrow law.
d. the title instruments law.
a. the negotiable instruments law.
A written promise or order to pay money defines a:
a. non-negotiable instrument.
b. negotiable instrument.
,c. negligible instrument.
d. a legible instrument
b. negotiable instrument.
Negotiability is the capacity to transfer ownership of an
instrument free of certain "Personal Defenses" of the
maker of the instrument. These personal defenses can
include such matters as:
a. failure of consideration.
b. misrepresentation as to the area of the property.
c. both a or b.
d. none of the above.
c. both a or b.
Which of the following creates security for the
performance of an obligation?
a. Security assignment
b. Collateral damage
c. Collective assignment
d. Collateral assignment
d. Collateral assignment
,The standard items in an escrow are called General
Provisions and include such items as:
a. deposits and prorations.
b. recording fees.
c. taxes.
d. all of the above.
d. all of the above.
Real defenses include such matters as:
a. forgery.
b. alteration.
c. both a and b.
d. none of the above.
c. both a and b.
Which of the following is a type of endorsement?
a. Blank
b. Special
, c. Restrictive or Qualified
d. All of the above
d. All of the above
To avoid foregoing warranties, the endorser would have to
add the words:
a. "warranties implied"
b. "without warranties"
c. "ignore warranties"
d. none of the above.
b. "without warranties"
Many escrow offices follow the practice of using one
general computer printed form of escrow instructions for
all types of escrows. The office procedures will determine
the form of the instructions an escrow officer will use.
A. True
B. False
A. True
Usually the first step in the closing process is:
a. completing the settlement sheet.
b. collecting a commission.
c. checking title.
d. none of the above
a. completing the settlement sheet.
The oldest of "uniform laws" is:
a. the negotiable instruments law.
b. the commercial law.
c. the escrow law.
d. the title instruments law.
a. the negotiable instruments law.
A written promise or order to pay money defines a:
a. non-negotiable instrument.
b. negotiable instrument.
,c. negligible instrument.
d. a legible instrument
b. negotiable instrument.
Negotiability is the capacity to transfer ownership of an
instrument free of certain "Personal Defenses" of the
maker of the instrument. These personal defenses can
include such matters as:
a. failure of consideration.
b. misrepresentation as to the area of the property.
c. both a or b.
d. none of the above.
c. both a or b.
Which of the following creates security for the
performance of an obligation?
a. Security assignment
b. Collateral damage
c. Collective assignment
d. Collateral assignment
d. Collateral assignment
,The standard items in an escrow are called General
Provisions and include such items as:
a. deposits and prorations.
b. recording fees.
c. taxes.
d. all of the above.
d. all of the above.
Real defenses include such matters as:
a. forgery.
b. alteration.
c. both a and b.
d. none of the above.
c. both a and b.
Which of the following is a type of endorsement?
a. Blank
b. Special
, c. Restrictive or Qualified
d. All of the above
d. All of the above
To avoid foregoing warranties, the endorser would have to
add the words:
a. "warranties implied"
b. "without warranties"
c. "ignore warranties"
d. none of the above.
b. "without warranties"
Many escrow offices follow the practice of using one
general computer printed form of escrow instructions for
all types of escrows. The office procedures will determine
the form of the instructions an escrow officer will use.
A. True
B. False
A. True
