Ut Base Forward Procedure Q2 2010

21 Questions

Settings
Please wait...
Base Quizzes & Trivia

What is a good base and what other things need to be considered.


Questions and Answers
  • 1. 
    What is a valid base?
    • A. 

      Full Search

    • B. 

      Partial search

    • C. 

      One Half search

    • D. 

      There are none

  • 2. 
    If the base considered has the following exception:  "Covenants, Conditions, Restrictions and/or Easements, if any, affecting title, which may appear in the public record"...you can use this as a base.
    • A. 

      True

    • B. 

      False

  • 3. 
    Is a Foregin Base the covers the PIQ and has more property in it considered a good base to use?
    • A. 

      Yes

    • B. 

      No

  • 4. 
    Should you ever use a comparable base when the PIQ is a condominium?
    • A. 

      Yes

    • B. 

      No

  • 5. 
    Is a Misc. Report an acceptable base product?
    • A. 

      Yes

    • B. 

      No

  • 6. 
    Use of a Lender's policy is preferred over the use of a Owner's policy if both were completed simultaneously.
    • A. 

      True

    • B. 

      False

  • 7. 
    You can always use a Letter Report as a base.
    • A. 

      True

    • B. 

      False

  • 8. 
    Foregin bases may be requested through IM.
    • A. 

      True

    • B. 

      False

  • 9. 
    When marking up the PI and GI printouts only come from the base date forward.
    • A. 

      True

    • B. 

      False

  • 10. 
    A/R search is not necessary because everything is listed in the chain sheet in recording order anyway.
    • A. 

      True

    • B. 

      False

  • 11. 
    Delete all exceptions that have been released, terminated,l reconveyed or are elimiated by specific time frames.
    • A. 

      True

    • B. 

      False

  • 12. 
    What are the rules on using a Vesting as shown on a direct base?
    • A. 

      It is current vesting

    • B. 

      Covers 100% interest

    • C. 

      Has been proofed for errors

    • D. 

      All of the above

  • 13. 
    Who is responsible to make sure that current vesting deed (s) are pulled and put into the document respository?
    • A. 

      Screener

    • B. 

      Searcher

    • C. 

      Vasu

    • D. 

      Examiner

    • E. 

      Auditor

  • 14. 
    What are the rules is using the legal description as shown in a direct base?
    • A. 

      It describes PIQ

    • B. 

      Has been proofed for errors

    • C. 

      All of the above

  • 15. 
    Do you need to make sure of access if the base does not disclose any issues?
    • A. 

      Yes

    • B. 

      No

  • 16. 
    CCR's exceptions will be copied exactly from the base to the new report.
    • A. 

      True

    • B. 

      False

  • 17. 
    If using a Foregin Base, show any Deeds of Trust and othe rmonetary matters posted to the property not shown on the base and not reconveyed or released.
    • A. 

      True

    • B. 

      False

  • 18. 
    Exceptions entitled" temporary easements" must not be pulled to determine if time frames has expired.
    • A. 

      True

    • B. 

      False

  • 19. 
    Show all survey matters on the base
    • A. 

      True

    • B. 

      False

  • 20. 
    When reviewing the PI and GI we have a come forward time frame which requires us to go back prior to the policy date.  What is that?
    • A. 

      10 days

    • B. 

      20 days

    • C. 

      30 days

    • D. 

      3 months

    • E. 

      None of the above

  • 21. 
    If the Vesting Deed is posted prior to the base and the gap period, the Vesting Deed must be found and placed in the document repository by the examiner
    • A. 

      True

    • B. 

      False