Florida Title Insurance Practice Exam

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Discover the Essential Role of Schedule B-I in Title Insurance PoliciesWhich schedule of the title insurance policy includes standard exceptions such as taxes and assessments?Discover the Statute of Limitations for Enforcing a Construction Lien in FloridaWhat is the statute of limitations for bringing an action to enforce a construction lien?How Owners Can Handle Construction Liens EffectivelyWhat action can an owner take to shorten the time for commencement of action on a construction lien?Riparian rights: what landowners bordering navigable waters can expect in FloridaWhich rights are associated with land bordering navigable waters?Understanding Florida's Road Maintenance Dedication StandardsA road constructed by a non-government entity that has been maintained or repaired by the government continuously and uninterruptedly for how many years is deemed dedicated to the public?Understanding Judgment Requirements for Real Property in FloridaWhat must be included in a judgment for it to affect real property in Florida?Understanding Leasehold Interests in Florida Property OwnershipWhich type of ownership is not typically considered a part of record title holders’ responsibilities?Understanding Riparian Rights and What They Entail for LandownersWhich of the following is NOT included in the rights associated with riparian rights?Understanding Risk Assessment Under the Gramm-Leach-Bliley ActWhich of the following components is included in the risk assessment regarding customer information under the Gramm-Leach-Bliley Act?Understanding Standard Exceptions in Florida Title Insurance PoliciesWhat is covered under standard exceptions in a title insurance policy?Understanding the Affiliated Business Arrangement Disclosure Under RESPAWhich of the following is not a requirement for the affiliated business arrangement disclosure under RESPA?Understanding the Components of Riparian Rights: What Every Property Owner Should KnowWhich of the following is a component of riparian rights?Understanding the Continuation of Insurance Clause in Title InsuranceThe continuation of insurance clause states that policy coverage shall continue under what conditions?Understanding the Duration of Mortgages Without a Final Maturity Date in FloridaFor a mortgage that does NOT stipulate a final maturity date, how many years does it remain in effect?Understanding the Essential Role of Patents in Property TitleWhat is a key function of a patent in the context of property title?Understanding the Essentials of a Surveyor's Certificate in FloridaWhat must a surveyor's certificate include?Understanding the Essentials of Simple Escrow in FloridaWhat does simple escrow include?Understanding the Importance of Township Lines in Florida Title InsuranceTownship lines appear every:Understanding the Minimum Risk Premium for Mortgage Title PoliciesWhat is the minimum risk premium that may be charged for a mortgage title policy?Understanding the Protection Offered by an Owner's Title PolicyWhat does the owner's title policy primarily protect against?Understanding the Qualifications for Florida Title Agent LicensureWhich of the following is NOT a qualification for title agent licensure?Understanding the Required Errors and Omissions Coverage for Florida Title AgentsWhat is the minimum errors and omissions coverage required for a Florida title agent?Understanding the Role of Minimum Premiums in Title InsuranceWhat is the purpose of setting a minimum premium for title insurance?Understanding the Role of Monthly Title Premium Remittance in ComplianceThe requirement for monthly remittance of title premiums is designed to ensure what?Understanding the Steps to Enforce a Construction Lien in FloridaTo enforce a construction lien, what must happen after a claim of lien is recorded?Understanding Title Service Premium Rules Under Florida StatuteAccording to F.S. 627.782(1) on RESPA related transactions, what should happen to the premium for primary title services?Understanding Who Is Not a Natural Guardian of a Minor ChildWho is NOT considered a natural guardian of a minor child?What Guardians Need to Know About Selling a Ward's PropertyWhat must a guardian do to obtain authorization for actions such as selling the ward's property?What Happens to Property When Someone Dies Without a Will in Florida?What happens to the property of a person who dies without a will and without any descendants?What is a Construction Loan Update in Florida Title Insurance?What endorsement attaches to a loan policy when the proceeds of the insured mortgage are used to fund improvements on the property?
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  • What is a common feature included in a surveyor's certificate?
  • How many days does a mortgagee, creditor, or assignee have to record a satisfaction after full payment has been received?
  • In Florida, how many witnesses are required for a corporate conveyancing deed?
  • What does shredding modify in records to make it unreadable by any means?
  • What is required to amend a will in Florida?
  • When should a disclosure of an affiliated business arrangement be provided to a consumer under RESPA?
  • Which of the following is NOT a responsibility of financial institutions under the Gramm-Leach-Bliley Act?
  • What is the minimum risk rate premium for simultaneous issue loan policy?
  • Permanent and immovable encroachments can include which items?
  • A mortgage title insurance may NOT be issued for less than what amount?
  • What may a partnership in dissolution do according to legal guidelines?
  • Which of the following is an enforceable covenant in a Warranty Deed?
  • Which 2006 ALTA endorsement applies specifically to condominiums?
  • Which type of bond must a Florida title agent maintain with a minimum amount of $35,000?
  • How should encroachments be indicated on final title policies?
  • What is one feature of the ALTA 2006 form title insurance policies?
  • Which document typically outlines the coverage details of a title insurance policy?
  • How many townships are contained in a piece of land that is 24 miles square?
  • Coinsurance involves what type of policy arrangement?
  • Range lines appear every:
  • Title insurance is primarily limited to what type of coverage?
  • In Florida, what is the term for property that is unable to be willed or devised due to family lineage requirements?
  • Who is required to consent to the dedication of a plant?
  • Upon filing a complaint for discharge of lien, how many days does the lienor have to show cause against it?
  • What does title insurance insure against?
  • What was one purpose of the land grants by the U.S to Florida in 1845?
  • What is the purpose of the Notice to Purchaser-Mortgagor?
  • According to F.S. 689.07, if a deed includes the terms "trustee" or "as trustee" without identifiable trust, what is the outcome?
  • What does the Florida Constitution provide regarding homestead rights?
  • 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?
  • A/an _____ is where an existing mortgage is made secondary to a new mortgage.
  • What exception should be deleted when a title commitment is issued at closing?
  • What is the minimum risk rate premium that can be charged for an owner's policy?
  • How can an owner shorten the time for commencement of action by a lienor on a construction lien?
  • What direction do latitude lines run?
  • The risk rate premium for the Navigational servitude endorsement is what percentage of the total policy premium?
  • What is an abstract of title?
  • What is NOT included in involuntary liens?
  • Which physical characteristic does the mean high water line represent?
  • What are common complaints about sham affiliated business arrangements under RESPA?
  • 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 enforceable covenants are there under a Warranty Deed?
  • Under the Gramm-Leach-Bliley Act, what type of information must financial institutions safeguard and protect?
  • Which of the following is NOT shown on Schedule A of a title commitment?
  • What type of notice does the Gramm-Leach-Bliley Act require financial institutions to provide?
  • According to Florida law, title insurance cannot be written on a basis that ignores which factors?
  • An owner's policy must be issued for what value?
  • Title agents preparing documents unrelated to the issuance of title insurance may be guilty of which practice?
  • What is the term for the technique used by hackers to trick individuals into divulging personal information?
  • What does Section 8 of RESPA allow a title company to pay its duly appointed agent for?
  • What is the maximum duration for which a license may be revoked?
  • Which document details the legal ownership and assessment information of a property?
  • When a mortgage has been assigned, who should sign the future satisfaction of mortgage?
  • What is another name for the U.S. government survey method?
  • Under ALTA 2006, which is NOT considered a covered risk?
  • Which tactic do criminals use to psychologically manipulate people for confidential data?
  • Temporary and movable encroachments include which of the following?
  • Which of the following is NOT a title defect under the ALTA 2006 form policy?
  • Where is the "Amount of insurance" defined in a title commitment?
  • What is the reissue risk premium for a $25,000 owner policy?
  • What kind of line would you use to determine boundary for tidal lands?
  • Verification of corporate status is typically conducted through which office?
  • What does the safeguards rule under the Gramm-Leach-Bliley Act require companies to develop?
  • In the absence of a partnership agreement, which document is needed from a general partner when insuring title involving partnership property?
  • Which of the following is NOT a category of endorsement and affirmative type coverage?
  • A legal description in title insurance defines what aspect of the property?
  • In property law, how is accretion defined?
  • 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?
  • Which covenant guarantees that the grantor is the rightful owner of the property in a Warranty Deed?
  • What term describes the situation when a person dies without a will?
  • Which of the following reflects the current status of title according to a title commitment?
  • What are the funds called until the required retention is remitted to the insurer?
  • When a person dies testate, how does their estate pass?
  • What is the statutory definition of a title insurance agent?
  • What does the mean high water line refer to?
  • Under the Florida constitution, what happens to homestead property if the owner is survived by a spouse or minor child?
  • What do many industry experts recommend that title agents block?
  • Which of the following is NOT an essential element of an unrecorded deed regarding its validity?
  • What is one requirement for an affiliated business arrangement disclosure to be compliant with RESPA?
  • Where is the name of the insured and the amount of insurance shown in a title insurance policy?
  • What does the term "distinct services" refer to in the context of payments received for additional services in a real estate transaction?
  • When is a life estate typically terminated?
  • What type of instrument did the USA use to convey title other than a deed?
  • Payments for additional services provided as part of a real estate transaction must be...
  • Which type of claims are typically excluded from title insurance coverage?
  • What type of records must be maintained by title insurance agents for audit purposes?
  • What documents are typically included in a title commitment?
  • What do primary title services primarily focus on?
  • 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?
  • To form a limited partnership, a certificate must be filed with which entity?
  • Any defect, lien, or encumbrance on the title of record prior to the date of policy is considered to be what?
  • What is the duration of a federal tax lien from the date of assessment, including refiled time?
  • When appointing an agency, what must the title insurer certify regarding surety and fidelity bonds?
  • What type of rights do riparian landowners NOT have?
  • Which of these is an example of a document that might indicate a title defect?
  • Who in Florida is not allowed to prepare a real estate contract?
  • Which of the following is a concern when assessing customer information security under the Gramm-Leach-Bliley Act?
  • What is the goal of the privacy notice required under the Gramm-Leach-Bliley Act?
  • What is the minimum coverage limit required for errors and omissions insurance in relation to title insurance searches?
  • The lien of a mortgage stipulating a final maturity date is terminated after how many years from such date?
  • Reinsurance consists of what kind of insurance arrangement?
  • What legal concept relates to the gradual accumulation of land due to water action?
  • What letter does the title insurer issue to lenders to encourage business with its agents?
  • Under the Marketable Record of Title Act, how many years prior must the "root of title" be recorded?
  • What amount can natural guardians manage for minors without exceeding legal limits?
  • What is the term for the natural increase of land along the shore due to water movement?
  • What is defined as any material, regardless of physical form, on which personal information is recorded or preserved?
  • Riparian rights allow for which of the following?
  • Which of the following is NOT a factor for determining whether a title is marketable?
  • Which definition best describes 'accretion'?
  • Which of the following is NOT a covenant under a Warranty Deed?
  • What is considered the unauthorized practice of law in relation to title insurance?
  • What is the minimum fidelity bond that a title agent in Florida is required to maintain?
  • What is the minimum bond amount for a fidelity bond for a title agency?
  • In Florida, what is mandated for a title insurance policy to be considered valid?
  • Longitude lines are associated with which reference point?
  • Within how many days after receipt of a written request must the holder of a mortgage deliver an estoppel letter?
  • Guide meridians are located how far from a principal meridian?
  • If a title agent's appointment has been terminated and not reappointed, how many years must pass before a new license application is required?
  • How often must required retention of title premium funds be remitted to the insurer by the agent?
  • What kind of changes in the licensing requirements can affect an agency's operation?
  • What defines an ordinary high water line?
  • What is the risk rate premium for the Florida Form 9 endorsement?
  • Where are standard parallel lines located?
  • Under the Gramm-Leach-Bliley Act, what does NPI NOT include?
  • What are the 11 townships of irregular size referred to as?
  • Inside a municipality, how much contiguous land may be set aside for homestead purposes?
  • What does the RESP section 8(a) specifically prohibit regarding settlement service business involving a federally related mortgage loan?
  • What must be included in an affiliated business arrangement disclosure under RESPA?
  • What is the significance of having a title search completed?
  • What psychological tactic involves taking a position of authority to obtain confidential data?
  • In Florida, most titles can be traced back to what type of grants?
  • What does the revocation of a codicil to a will NOT affect?
  • Title insurance is characterized as what type of policy?
  • What is the relationship of latitude lines to the equator?
  • Corporations may execute deeds under which of the following methods?
  • Which individuals are recommended for initiating wire transfers?
  • What does a construction lien require to be valid?
  • What is the maximum duration for which a license may be suspended?
  • What is included in a title insurance commitment regarding existing liens?
  • When is a judgment lien created on real property in Florida?
  • When verifying corporate status, which of the following is NOT required?
  • Which aspect of title insurance helps to define property boundaries?
  • What is required for errors and omissions insurance for a title agency?
  • At which location do the equator and Greenwich prime meridian intersect?
  • Which type of deed limits the liability of the grantor to only their period of ownership?
  • Who can perform a title search for issuing a title policy?
  • What must be executed with the same formalities as a will?
  • Under the ALTA 2006 form policy, which of these is NOT an exclusion from coverage?
  • According to the Gramm-Leach-Bliley Act, which document outlines the method of safeguarding NPI?
  • For a title insurance agency with one main office and two branches, what is the minimum number of licensed agents required?
  • Primary title services include which of the following?
  • Which endorsement requires approval from the department (OIR) before it can be issued?
  • Which of the following is NOT a covenant under a Warranty Deed?
  • When may a loan policy be converted to an owner's policy?
  • In what document are loan closing instructions typically found for real estate transactions?
  • How many acres are in the S 1/2 of the NW 1/4 of the NW 1/4?
  • What is the period defined by the GAP exception in title insurance?
  • What must a seller affirm in an affidavit at closing regarding possession of property?
  • Adverse possession of real property takes how many years of use by the adverse possessor?
  • On a simultaneous issue transaction, how is the risk premium on the excess amount of the loan policy calculated?
  • Where is the simple interest rate of a mortgage loan reflected?
  • Once filed, a United States judgment remains a lien for how many years, with a possibility to refile for additional years?
  • What is the significance of a self-proved will in the context of estate planning?
  • Which entity is responsible for maintaining public records related to real property?
  • Which of the following is NOT included in voluntary liens?
  • What does Condition 2, "Continuation of insurance," specify about coverage?
  • A general warranty deed holds which party liable for actions of predecessors in title?
  • Which of the following is NOT part of the foreclosure process?
  • Which section is located immediately north of section 34 in a township?
  • What type of documents are title insurance agencies in Florida authorized to prepare?
  • Which documents are required for use in TRID transactions?
  • Monthly escrow account reconciliation records must be maintained for what duration?
  • What is the maximum percentage above the full loan amount for which a mortgagee title policy may be issued without an additional interest endorsement?
  • What is a codicil?
  • What must be recorded for a judgment to become a lien on real property in Florida?
  • What is the first document that must be reviewed at closing in a mortgage finance transaction under TRID?
  • Which of the following endorsements and affirmative type coverage is not regulated by 69O-186.005(7)(a)?
  • Which of the following is included in the definition of closing?
  • What is a key aspect of procedures used to protect customer information as required by the safeguard rule?
  • What happens to a perfected lien that is NOT a dischargeable debt in bankruptcy proceedings?
  • What type of encroachments can include fences and driveways?
  • For how long must individual escrow records be maintained by the title insurance agent?
  • Under Florida's power of attorney act, an agent may only exercise powers that are:
  • Under Florida law, a general partner is authorized to sign deeds for which entity?
  • What is the recommended document retention strategy for funds pending remittance to the insurer?
  • How can a will or codicil be acknowledged by the testator?
  • 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?
  • What is HUD's enforcement position under RESPA concerning title insurance premiums?
  • A sophisticated scammer targeting businesses that regularly perform wire transfer payments is known as what?
  • Which professional is most likely to require title insurance when facilitating real estate transactions?
  • What does F.S. 627.711(1)(b) allow for in title insurance services?
  • What is the minimum title premium for a $10,000 owner's title policy?
  • If a descendant is married at the time of death, who automatically receives title to property held as tenants by the entirety?
  • If a federal tax lien is refiled, how many additional years is it extended?
  • Who acts as an agent for a limited partnership in its activities?
  • Who is NOT recognized by statute as being authorized to sign a deed on behalf of a corporation in Florida?
  • What is the purpose of public records under state statutes as defined in title insurance?
  • How many people must be affected for a title agency to notify the Department of Legal Affairs about a breach?
  • In which year did Florida become a state?
  • When the certificate of title is filed, what happens to the sale?
  • What is the main risk covered by a mortgagee title policy?
  • What total number of acres of contiguous land and improvements outside a municipality may be set aside for homestead purposes?
  • A metes and bounds description characterizes land by what parameters?
  • For how many years must evidence of insurability and reasonable title search be maintained after a title commitment or policy is issued?
  • What is the maximum lifespan of a standard money judgment lien from the entry date of the judgment?
  • What type of right may be excluded from coverage if a seller claims no one is in possession of the property?
  • What is the minimum retention of title premium required by title insurers?
  • What is the maximum deductible for errors and omissions coverage for a title agent in Florida?
  • What direction do longitude lines run?
  • Under Florida Statute 501.171, what is defined as the unauthorized access of personal information data in electronic form?
  • How many years after a tax deed holder takes actual possession must an action to recover possession be commenced?
  • Which court has the judicial authority over quiet title actions in Florida?
  • Which of the following must be included in a privacy notice under the Gramm-Leach-Bliley Act?
  • 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?
  • Certain powers under Florida's power of attorney act may be exercised by an agent only if the principal:
  • The retained title premium funds must first be acknowledged as what?
  • What is the minimum number of people required to establish a simple escrow?
  • A road constructed by the county and maintained for how many years is deemed dedicated to the public?
  • Who first claimed Florida?
  • Where are matters subordinate to the lien of the insured mortgage shown in a loan policy?
  • 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?
  • In the context of title insurance, what does the term 'insurability' refer to?
  • Which of the following is a standard exception on a title commitment?
  • What is a title agency acting as an escrow agent responsible for?
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