Or Business/Trust Requirements Action Plan Follow-up
5 Questions
| Total Attempts: 59
This is the follow-up test to the OR business/trust requirements ACTION plan from Q1.
Questions and Answers
- 1.On a prelim - what requirement code needs to be shown if the vestee is a LLC?
- A.
R/26
- B.
R/51
- C.
M/55
- D.
R/44
- E.
R/49
- 2.On a commitment, what preprinted requirement codes need to be marked if the vestee is an inactive partnership? (Choose all that apply)
- A.
RPTS/CC2 (J)
- B.
RPTS/C3 (K)
- C.
RPTS/C14 (G)
- D.
RPTS/CC4 (L)
- E.
RPTS/CC7 (M)
- 3.Trusts need to be ran in the business registry.
- A.
True
- B.
False
- 4.When there is no record of active business entity - what code will need to be shown (for commitments in the preprinted requirements section, for prelims in the info notes)?
- A.
ORE/E2
- B.
ORE/E1
- C.
ORE/ET1
- D.
ORE/M1
- E.
ORE/T1
- 5.Requirement codes do not need to be shown on a Lot Book Guarantee.
- A.
True
- B.
False
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