MD Title Insurance Producer License
Exam 2026 Questions and Answers
Quasi-Contract - Correct answer-A contract this is implied by law and a way for
courts to correct or remedy a situation and to prevent unjust enrichment.
Void for Vagueness - Correct answer-1. An incomplete and uncertain contract
based on vague terms --- which may be void
2. If a determination is not reached, the courts may void the contract or severe the
terms.
Statue of Frauds Includes: - Correct answer-- Contracts that cannot be performed in
one year
- Contracts for the sale of real estate, real property, or land.
- Contracts for the sale of goods that are above a certain price
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Title Insurance - Correct answer-A contractual obligation that protects against
losses that occur when title to a property is not free and clear or defects --- a one
time fee payable at the time of closing
Standard Coverage Policy - Correct answer-Insures primarily against defects in
title which are discoverable through an examination of the public record ---
includes defects in title or recorded liens or encumbrances.
Extended Coverage Policy - Correct answer-Same insurance as the standard policy
--- also insures against defects, liens, encumbrances, easements, and
encroachments and conflicts in boundary lines that are not reflected in public
records
Homeowners Insurance - Correct answer-Insures a house, contents, and may
provide coverage for losses due to fire or lighting, theft, vandalism, and personal
liability claims. ---- Billed monthly, quarterly, or annually.
Lenders Policy - Correct answer-Insures the lender's security interest in the
property has priority over claims that others may have in the property
Owners Policy - Correct answer-Insures the buyer for as long as he or she owns the
property --- higher than a loan policy due to the assumption of risk.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Exam 2026 Questions and Answers
Quasi-Contract - Correct answer-A contract this is implied by law and a way for
courts to correct or remedy a situation and to prevent unjust enrichment.
Void for Vagueness - Correct answer-1. An incomplete and uncertain contract
based on vague terms --- which may be void
2. If a determination is not reached, the courts may void the contract or severe the
terms.
Statue of Frauds Includes: - Correct answer-- Contracts that cannot be performed in
one year
- Contracts for the sale of real estate, real property, or land.
- Contracts for the sale of goods that are above a certain price
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Title Insurance - Correct answer-A contractual obligation that protects against
losses that occur when title to a property is not free and clear or defects --- a one
time fee payable at the time of closing
Standard Coverage Policy - Correct answer-Insures primarily against defects in
title which are discoverable through an examination of the public record ---
includes defects in title or recorded liens or encumbrances.
Extended Coverage Policy - Correct answer-Same insurance as the standard policy
--- also insures against defects, liens, encumbrances, easements, and
encroachments and conflicts in boundary lines that are not reflected in public
records
Homeowners Insurance - Correct answer-Insures a house, contents, and may
provide coverage for losses due to fire or lighting, theft, vandalism, and personal
liability claims. ---- Billed monthly, quarterly, or annually.
Lenders Policy - Correct answer-Insures the lender's security interest in the
property has priority over claims that others may have in the property
Owners Policy - Correct answer-Insures the buyer for as long as he or she owns the
property --- higher than a loan policy due to the assumption of risk.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
