ESCROW FINAL EXAM REVIEW 2023 WITH
COMPLETE SOLUTION
50 When a buyer assumes an existing loan, he or she signs:
B. an assumption agreement with the lender.
51 If the buyer fails to perform in meeting the obligations under the loan the lender will
probably file a:
Notice of Default
52 A resident can be protected from judgment that become liens by the
acknowledgment recording
Declaration of homestead
53 Which of the following is a reference point in CA
All of the above.
54 The right of a landowner to use the water on, under, and adjacent to his or her land
is known as a
Riparian rights
55 The rights to use water is considered of such primary importance that
D. Both A & B
56 The determining factor in preparing a second deed of trust is the
B. Time of Recording.
57 On any note
D. All of The Above
58 The effective date for the insurance must be
D. Both B & C are correct.
59 On the settlement sheet, the cash deposited in escrow is
A. Credited to the buyer.
60 Most commonly, the motivating reason for real property exchange is
C. Tax consideration
61 Which of the following types of property are typically exchange
D. All of the above
62 An even exchange can be effected
B. Both A & B are correct
63 The money or other (not like-kind) property that is given to make up any difference in
value or equity between exchanged properties is called
B. Boot.
64 The broker will formalize the exchange with a type of deposit receipt
A. Exchange agreement
65 When an adjustment is listed to take effect called a (N)
B. Close of escrow:
66 If no defect are found in the tax sale proceeding, most title insurance companies will
insure a property from a tax sale after
C. One year
67 The main purpose of probate is to
D. All of the above
COMPLETE SOLUTION
50 When a buyer assumes an existing loan, he or she signs:
B. an assumption agreement with the lender.
51 If the buyer fails to perform in meeting the obligations under the loan the lender will
probably file a:
Notice of Default
52 A resident can be protected from judgment that become liens by the
acknowledgment recording
Declaration of homestead
53 Which of the following is a reference point in CA
All of the above.
54 The right of a landowner to use the water on, under, and adjacent to his or her land
is known as a
Riparian rights
55 The rights to use water is considered of such primary importance that
D. Both A & B
56 The determining factor in preparing a second deed of trust is the
B. Time of Recording.
57 On any note
D. All of The Above
58 The effective date for the insurance must be
D. Both B & C are correct.
59 On the settlement sheet, the cash deposited in escrow is
A. Credited to the buyer.
60 Most commonly, the motivating reason for real property exchange is
C. Tax consideration
61 Which of the following types of property are typically exchange
D. All of the above
62 An even exchange can be effected
B. Both A & B are correct
63 The money or other (not like-kind) property that is given to make up any difference in
value or equity between exchanged properties is called
B. Boot.
64 The broker will formalize the exchange with a type of deposit receipt
A. Exchange agreement
65 When an adjustment is listed to take effect called a (N)
B. Close of escrow:
66 If no defect are found in the tax sale proceeding, most title insurance companies will
insure a property from a tax sale after
C. One year
67 The main purpose of probate is to
D. All of the above
