Arizona Ccr
Follow up testing for the CCR quiz.
- 1.
According to the CCR procedure, what do you do when you have an available C-base that discloses a CCR?
- A.
You look at 5 other bases to verify the information.
- B.
You pull the CCR's and run out all of the legals to make sure it affects your property.
- C.
You show the CCR's and search your chain from the date of the c-base forward.
- D.
You stop and run to the break room to buy a coke.
Correct Answer
C. You show the CCR's and search your chain from the date of the c-base forward. -
- 2.
If your Property in Question has a direct base that discloses the CCR, which of the following is correct for your next step?
- A.
Note the CCR on the base, then go back to the Plat map in the chain and search forward for any missed CCR's.
- B.
Note the CCR on the base...review your effective date on the base and search the PI chain only for any documents after your effective date.
- C.
Note the CCR on the base...review your effective date on the base and search the PI and All Tract postings for any documents after your effective date.
- D.
Ignore the CCR shown on the base...go back to the plat and search the entire thing over again because we don't trust our bases at all.
Correct Answer
C. Note the CCR on the base...review your effective date on the base and search the PI and All Tract postings for any documents after your effective date. -
- 3.
When we review amended and restated CCR's, what is something we should consider very carefully?
- A.
What we should do when we go on break?
- B.
The document(s) referenced in the re-stated CCR so that we know what it replaces.
- C.
We don't consider anything very carefully...we should just look at the title and then show it in the report.
- D.
The entity who recorded the document.
Correct Answer
B. The document(s) referenced in the re-stated CCR so that we know what it replaces. -
- 4.
You are working on your file and have no base to use. You follow the procedure by going back to the plat and reviewing the PI and all tract postings for any CCR documents found. You find 2 CCR's in the chains that you have reviewed. CCR 123456 includes our property while CCR 67890 includes a neighboring tract of land. Which of the following is your next step?
- A.
Show both CCR's just to be on the safe side.
- B.
Ignore both CCR's because you are not sure.
- C.
Send a backplant request to the CPU.
- D.
Show CCR 123456 since it includes our property and ignore CCR 67890.
Correct Answer
D. Show CCR 123456 since it includes our property and ignore CCR 67890. -
- 5.
What is a CCR?
- A.
A Document recorded that sets forth certain rules or regulations established by a sub-divider or land owner.
- B.
A lien against the property.
- C.
A loan document that secures a note executed by the property owner.
- D.
A document conveying title from one owner to another.
Correct Answer
A. A Document recorded that sets forth certain rules or regulations established by a sub-divider or land owner. -
- 6.
When reviewing a CCR, what areas of the document are we concerned with?
- A.
The Recording Date.
- B.
The Name of the document.
- C.
The body document (particularly the definitions) for HOA's disclosed.
- D.
The legal Description.
- E.
All of the above.
Correct Answer
E. All of the above. -
- 7.
What is the middle initial of the best coordinator you have ever had?
- A.
B
- B.
M
- C.
A
- D.
L
Correct Answer
C. A -
- 8.
Which of the following best describes why it is important to review the language CLOSELY in a amended and restated CCR?
- A.
It isn't important...just show the document.
- B.
Because that is what the CPU told us to do.
- C.
Amended and Restated CCR's sometimes may only restate a portion of the original CCR and not all of it. It is important to know how the document affects the original.
- D.
We don't want to get errors.
Correct Answer
C. Amended and Restated CCR's sometimes may only restate a portion of the original CCR and not all of it. It is important to know how the document affects the original. -
- 9.
What does Section 3.5 of the CCR Procedure cover?
- A.
How to search for a vesting deed.
- B.
Amended And Restated CCR's
- C.
How to change the oil in your car
- D.
What to show in your 24 month chain of title
Correct Answer
B. Amended And Restated CCR's -
- 10.
Generally, what is the purpose of an amendment of a CCR?
- A.
To change a part of an original CCR for correction purposes or to alter part of the agrement without replacing the rest of the original document.
- B.
To make examining hard for us.
- C.
To put more documents on the chain that need to be reviewed so that it slows down our production and makes our managers unhappy.
- D.
To replace the existing CCR entirely with a totally new document with a totally new set of rules to follow.
Correct Answer
A. To change a part of an original CCR for correction purposes or to alter part of the agrement without replacing the rest of the original document. -
- 11.
What code would you use for a CCR if your transaction type is an Equity Loan?
- A.
C-1
- B.
C-2
- C.
C-5
- D.
C-1a
Correct Answer
D. C-1a -
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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Sep 28, 2016Quiz Edited by
ProProfs Editorial Team -
Mar 04, 2010Quiz Created by
Jlarsen
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