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