Florida Title Insurance Practice Exam

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• What is the term for the natural increase of land along the shore due to water movement?
• What is the main risk covered by a mortgagee title policy?
• What amount can natural guardians manage for minors without exceeding legal limits?
• Temporary and movable encroachments include which of the following?
• Which of the following is NOT an essential element of an unrecorded deed regarding its validity?
• Under the Marketable Record of Title Act, how many years prior must the "root of title" be recorded?
• A general warranty deed holds which party liable for actions of predecessors in title?
• What is the main difference between setting aside property within and outside of a municipality?
• Who is authorized to sign a deed on behalf of a limited partnership according to Florida law?
• Which of the following is NOT a category of endorsement and affirmative type coverage?
• What does the revocation of a codicil to a will NOT affect?
• Where is the "Amount of insurance" defined in a title commitment?
• Which covenant guarantees that the grantor is the rightful owner of the property in a Warranty Deed?
• Which aspect of title insurance helps to define property boundaries?
• Primary title services include which of the following?
• Under the Gramm-Leach-Bliley Act, what type of information must financial institutions safeguard and protect?
• What do many industry experts recommend that title agents block?
• What does title insurance insure against?
• What is the duration of a federal tax lien from the date of assessment, including refiled time?
• If a federal tax lien is refiled, how many additional years is it extended?
• Which endorsement requires approval from the department (OIR) before it can be issued?
• Upon filing a complaint for discharge of lien, how many days does the lienor have to show cause against it?
• On a simultaneous issue transaction, how is the risk premium on the excess amount of the loan policy calculated?
• Which professional is most likely to require title insurance when facilitating real estate transactions?
• When is a judgment lien created on real property in Florida?
• Which rights are associated with land bordering navigable waters?
• If no objections to the sale of foreclosed property are filed within how many days after filing the certificate of sale, the clerk files a certificate of title?
• When appointing an agency, what must the title insurer certify regarding surety and fidelity bonds?
• What is the relationship of latitude lines to the equator?
• Which of these is an example of a document that might indicate a title defect?
• Which document typically outlines the coverage details of a title insurance policy?
• What does the Florida Constitution provide regarding homestead rights?
• In the context of title insurance, what does the term 'insurability' refer to?
• What are the 11 townships of irregular size referred to as?
• Coinsurance involves what type of policy arrangement?
• What is required for errors and omissions insurance for a title agency?
• What is the maximum deductible for errors and omissions coverage for a title agent in Florida?
• Which court has the judicial authority over quiet title actions in Florida?
• Which type of deed limits the liability of the grantor to only their period of ownership?
• Longitude lines are associated with which reference point?
• What is the maximum duration for which a license may be suspended?
• What is the period defined by the GAP exception in title insurance?
• What must be included in an affiliated business arrangement disclosure under RESPA?
• When the certificate of title is filed, what happens to the sale?
• According to Florida law, title insurance cannot be written on a basis that ignores which factors?
• Title insurance is primarily limited to what type of coverage?
• How should encroachments be indicated on final title policies?
• What is one requirement for an affiliated business arrangement disclosure to be compliant with RESPA?
• Title agents preparing documents unrelated to the issuance of title insurance may be guilty of which practice?
• Which 2006 ALTA endorsement applies specifically to condominiums?
• What is the minimum risk rate premium for simultaneous issue loan policy?
• Payments for additional services provided as part of a real estate transaction must be...
• Which of the following is included in the definition of closing?
• Certain powers under Florida's power of attorney act may be exercised by an agent only if the principal:
• What is the risk rate premium for the Florida Form 9 endorsement?
• What is a key aspect of procedures used to protect customer information as required by the safeguard rule?
• How can an owner shorten the time for commencement of action by a lienor on a construction lien?
• Which of the following is a concern when assessing customer information security under the Gramm-Leach-Bliley Act?
• According to F.S. 689.07, if a deed includes the terms "trustee" or "as trustee" without identifiable trust, what is the outcome?
• Monthly escrow account reconciliation records must be maintained for what duration?
• A road constructed by the county and maintained for how many years is deemed dedicated to the public?
• What is included in a title insurance commitment regarding existing liens?
• Which type of bond must a Florida title agent maintain with a minimum amount of $35,000?
• When is a life estate typically terminated?
• What is the term for the technique used by hackers to trick individuals into divulging personal information?
• Reinsurance consists of what kind of insurance arrangement?
• What is the significance of a self-proved will in the context of estate planning?
• Which of the following is NOT included in voluntary liens?
• Where is the name of the insured and the amount of insurance shown in a title insurance policy?
• An owner's policy must be issued for what value?
• What are the funds called until the required retention is remitted to the insurer?
• Which of the following is NOT a title defect under the ALTA 2006 form policy?
• In what document are loan closing instructions typically found for real estate transactions?
• Which documents are required for use in TRID transactions?
• What is the significance of having a title search completed?
• Corporations may execute deeds under which of the following methods?
• When a mortgage has been assigned, who should sign the future satisfaction of mortgage?
• What do primary title services primarily focus on?
• What does the safeguards rule under the Gramm-Leach-Bliley Act require companies to develop?
• A sophisticated scammer targeting businesses that regularly perform wire transfer payments is known as what?
• Verification of corporate status is typically conducted through which office?
• What is the statutory definition of a title insurance agent?
• Range lines appear every:
• What type of records must be maintained by title insurance agents for audit purposes?
• The lien of a mortgage stipulating a final maturity date is terminated after how many years from such date?
• What is the purpose of the Notice to Purchaser-Mortgagor?
• Which of the following is NOT a covenant under a Warranty Deed?
• What is the goal of the privacy notice required under the Gramm-Leach-Bliley Act?
• Who acts as an agent for a limited partnership in its activities?
• What does F.S. 627.711(1)(b) allow for in title insurance services?
• Who first claimed Florida?
• What type of notice does the Gramm-Leach-Bliley Act require financial institutions to provide?
• How many days does a mortgagee, creditor, or assignee have to record a satisfaction after full payment has been received?
• What is the maximum percentage above the full loan amount for which a mortgagee title policy may be issued without an additional interest endorsement?
• In property law, how is accretion defined?
• What is the maximum duration for which a license may be revoked?
• In Florida, what is mandated for a title insurance policy to be considered valid?
• Under Florida Statute 501.171, what is defined as the unauthorized access of personal information data in electronic form?
• Guide meridians are located how far from a principal meridian?
• What documents are typically included in a title commitment?
• What is the minimum retention of title premium required by title insurers?
• Which section is located immediately north of section 34 in a township?
• What is an abstract of title?
• What does Section 8 of RESPA allow a title company to pay its duly appointed agent for?
• According to the Gramm-Leach-Bliley Act, which document outlines the method of safeguarding NPI?
• For how long must individual escrow records be maintained by the title insurance agent?
• Which of the following must be included in a privacy notice under the Gramm-Leach-Bliley Act?
• Which of the following is NOT shown on Schedule A of a title commitment?
• Under Florida law, a general partner is authorized to sign deeds for which entity?
• What is HUD's enforcement position under RESPA concerning title insurance premiums?
• How many townships are contained in a piece of land that is 24 miles square?
• What direction do latitude lines run?
• Which of the following is NOT part of the foreclosure process?
• Which of the following is NOT a responsibility of financial institutions under the Gramm-Leach-Bliley Act?
• Any defect, lien, or encumbrance on the title of record prior to the date of policy is considered to be what?
• How often must required retention of title premium funds be remitted to the insurer by the agent?
• When may a loan policy be converted to an owner's policy?
• When verifying corporate status, which of the following is NOT required?
• How can a will or codicil be acknowledged by the testator?
• What must be recorded for a judgment to become a lien on real property in Florida?
• The risk rate premium for the Navigational servitude endorsement is what percentage of the total policy premium?
• What is NOT included in involuntary liens?
• For a title insurance agency with one main office and two branches, what is the minimum number of licensed agents required?
• What psychological tactic involves taking a position of authority to obtain confidential data?
• At which location do the equator and Greenwich prime meridian intersect?
• Once filed, a United States judgment remains a lien for how many years, with a possibility to refile for additional years?
• Which individuals are recommended for initiating wire transfers?
• What does a construction lien require to be valid?
• Filing a notice of contest of lien shortens the period for commencing an action to enforce the claim of lien to how many days?
• How many acres are in the S 1/2 of the NW 1/4 of the NW 1/4?
• What does the RESP section 8(a) specifically prohibit regarding settlement service business involving a federally related mortgage loan?
• What term describes the situation when a person dies without a will?
• What is the maximum lifespan of a standard money judgment lien from the entry date of the judgment?
• Under the Gramm-Leach-Bliley Act, what does NPI NOT include?
• What kind of changes in the licensing requirements can affect an agency's operation?
• What does shredding modify in records to make it unreadable by any means?
• Which of the following reflects the current status of title according to a title commitment?
• The retained title premium funds must first be acknowledged as what?
• Which of the following is NOT a factor for determining whether a title is marketable?
• What is the minimum risk rate premium that can be charged for an owner's policy?
• Title insurance is characterized as what type of policy?
• Riparian rights allow for which of the following?
• To form a limited partnership, a certificate must be filed with which entity?
• What defines an ordinary high water line?
• When should a disclosure of an affiliated business arrangement be provided to a consumer under RESPA?
• What is the first document that must be reviewed at closing in a mortgage finance transaction under TRID?
• Which of the following is a standard exception on a title commitment?
• How many enforceable covenants are there under a Warranty Deed?
• What type of insurance must a person have to perform a title search if they are not an agent or employee of a title insurance agency?
• What is a common feature included in a surveyor's certificate?
• In which year did Florida become a state?
• Permanent and immovable encroachments can include which items?
• What is the minimum number of people required to establish a simple escrow?
• How many people must be affected for a title agency to notify the Department of Legal Affairs about a breach?
• Who is required to consent to the dedication of a plant?
• What is the minimum fidelity bond that a title agent in Florida is required to maintain?
• A title insurer or its appointed agent must maintain a record of actual premium charged for issuance of title policies for at least how long?
• What is the minimum coverage limit required for errors and omissions insurance in relation to title insurance searches?
• Adverse possession of real property takes how many years of use by the adverse possessor?
• In Florida, most titles can be traced back to what type of grants?
• Under the Florida constitution, what happens to homestead property if the owner is survived by a spouse or minor child?
• Where is the simple interest rate of a mortgage loan reflected?
• What was one purpose of the land grants by the U.S to Florida in 1845?
• What does Condition 2, "Continuation of insurance," specify about coverage?
• In Florida, what is the term for property that is unable to be willed or devised due to family lineage requirements?
• What is one feature of the ALTA 2006 form title insurance policies?
• Which document details the legal ownership and assessment information of a property?
• Which of the following is an enforceable covenant in a Warranty Deed?
• In the absence of a partnership agreement, which document is needed from a general partner when insuring title involving partnership property?
• Who in Florida is not allowed to prepare a real estate contract?
• Within how many days after receipt of a written request must the holder of a mortgage deliver an estoppel letter?
• What is the recommended document retention strategy for funds pending remittance to the insurer?
• Under ALTA 2006, which is NOT considered a covered risk?
• Which entity is responsible for maintaining public records related to real property?
• Where are standard parallel lines located?
• If a title agent's appointment has been terminated and not reappointed, how many years must pass before a new license application is required?
• What is the reissue risk premium for a $25,000 owner policy?
• A legal description in title insurance defines what aspect of the property?
• Which of the following endorsements and affirmative type coverage is not regulated by 69O-186.005(7)(a)?
• What must be executed with the same formalities as a will?
• According to RESPA statement policy 1996-4, if a title insurer provides proforma commitment services to a title insurance agent, what is true regarding the agent's role?
• What does the mean high water line refer to?
• What direction do longitude lines run?
• What is defined as any material, regardless of physical form, on which personal information is recorded or preserved?
• Under the ALTA 2006 form policy, which of these is NOT an exclusion from coverage?
• What exception should be deleted when a title commitment is issued at closing?
• Inside a municipality, how much contiguous land may be set aside for homestead purposes?
• What may a partnership in dissolution do according to legal guidelines?
• What is the minimum bond amount for a fidelity bond for a title agency?
• What is considered the unauthorized practice of law in relation to title insurance?
• What does the term "distinct services" refer to in the context of payments received for additional services in a real estate transaction?
• What is the purpose of public records under state statutes as defined in title insurance?
• What type of right may be excluded from coverage if a seller claims no one is in possession of the property?
• What are common complaints about sham affiliated business arrangements under RESPA?
• For how many years must evidence of insurability and reasonable title search be maintained after a title commitment or policy is issued?
• A mortgage title insurance may NOT be issued for less than what amount?
• What is required to amend a will in Florida?
• Where are matters subordinate to the lien of the insured mortgage shown in a loan policy?
• If a seller signs an affidavit at closing asserting no improvements have been made in the past 90 days, what may the title policy exclude?
• Under Florida's power of attorney act, an agent may only exercise powers that are:
• A/an _____ is where an existing mortgage is made secondary to a new mortgage.
• What type of documents are title insurance agencies in Florida authorized to prepare?
• Which physical characteristic does the mean high water line represent?
• What type of encroachments can include fences and driveways?
• What happens to a perfected lien that is NOT a dischargeable debt in bankruptcy proceedings?
• What total number of acres of contiguous land and improvements outside a municipality may be set aside for homestead purposes?
• Who is NOT recognized by statute as being authorized to sign a deed on behalf of a corporation in Florida?
• A metes and bounds description characterizes land by what parameters?
• In Florida, how many witnesses are required for a corporate conveyancing deed?
• What legal concept relates to the gradual accumulation of land due to water action?
• What must a seller affirm in an affidavit at closing regarding possession of property?
• Who can perform a title search for issuing a title policy?
• What is another name for the U.S. government survey method?
• Which of the following is NOT a covenant under a Warranty Deed?
• What is the minimum title premium for a $10,000 owner's title policy?
• When a person dies testate, how does their estate pass?
• What is a title agency acting as an escrow agent responsible for?
• Which type of claims are typically excluded from title insurance coverage?
• What type of rights do riparian landowners NOT have?
• What is a codicil?
• What kind of line would you use to determine boundary for tidal lands?
• What type of instrument did the USA use to convey title other than a deed?
• What letter does the title insurer issue to lenders to encourage business with its agents?
• Which definition best describes 'accretion'?
• If a descendant is married at the time of death, who automatically receives title to property held as tenants by the entirety?
• How many years after a tax deed holder takes actual possession must an action to recover possession be commenced?
• Which tactic do criminals use to psychologically manipulate people for confidential data?