Ncs Nw Business/Trust Requirements Action Plan

5 Questions | By Ncsqclead | Last updated: Mar 20, 2022 | Total Attempts: 38

This quiz is for the business/trust requirements ACTION plan that was trained on 18 February 2010.

Questions and Answers

1.

Requirement codes need to be shown on a Lot Book Guarantee.
- A.
  
  True
- B.
  
  False
2.

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/E1
- B.
  
  ORE/E2
- C.
  
  ORE/M1
- D.
  
  ORE/ET1
- E.
  
  ORE/T1
3.

On a prelim - what requirement code needs to be shown if the vestee is a LLC?
- A.
  
  R/26
- B.
  
  R/44
- C.
  
  R/51
- D.
  
  M/55
- E.
  
  R/49
4.

On a commitment- what preprinted requirement codes needs to be marked if the vestee is an inactive partnership? (Choose all that apply)
- A.
  
  RPTS/C14 (G)
- B.
  
  RPTS/C3 (K)
- C.
  
  RPTS/CC2 (J)
- D.
  
  RPTS/CC4 (L)
- E.
  
  RPTS/CC7 (M)
5.

Trusts do not need to be ran in the business registry.
- A.
  
  True
- B.
  
  False

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