Or Business/Trust Requirements Action Plan Follow-up

5 Questions | Total Attempts: 59

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Business Plan Quizzes & Trivia

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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