Ut Base Forward Procedure Q2 2010
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What is a valid base?
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Full Search
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Partial search
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There are none
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What is a good base and what other things need to be considered.
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- 2.
Should you ever use a comparable base when the PIQ is a condominium?
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Yes
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No
Correct Answer
A. Yes -
- 3.
Use of a Lender's policy is preferred over the use of a Owner's policy if both were completed simultaneously.
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True
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False
Correct Answer
A. False -
- 4.
You can always use a Letter Report as a base.
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True
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False
Correct Answer
A. False -
- 5.
A/R search is not necessary because everything is listed in the chain sheet in recording order anyway.
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True
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False
Correct Answer
A. False -
- 6.
What are the rules on using a Vesting as shown on a direct base?
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It is current vesting
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Covers 100% interest
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Has been proofed for errors
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All of the above
Correct Answer
A. All of the above -
- 7.
Who is responsible to make sure that current vesting deed (s) are pulled and put into the document respository?
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Screener
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Searcher
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Vasu
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Examiner
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Auditor
Correct Answer
A. Examiner -
- 8.
What are the rules is using the legal description as shown in a direct base?
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It describes PIQ
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Has been proofed for errors
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All of the above
Correct Answer
A. All of the above -
- 9.
CCR's exceptions will be copied exactly from the base to the new report.
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True
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False
Correct Answer
A. True -
- 10.
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.
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True
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False
Correct Answer
A. True -
- 11.
Show all survey matters on the base
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True
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False
Correct Answer
A. False -
- 12.
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?
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10 days
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20 days
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30 days
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3 months
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None of the above
Correct Answer
A. 30 days -
- 13.
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
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True
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False
Correct Answer
A. True -
- 14.
Foregin bases may be requested through IM.
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True
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False
Correct Answer
A. False -
- 15.
Delete all exceptions that have been released, terminated,l reconveyed or are elimiated by specific time frames.
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True
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False
Correct Answer
A. True -
- 16.
Do you need to make sure of access if the base does not disclose any issues?
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Yes
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No
Correct Answer
A. Yes -
- 17.
Is a Misc. Report an acceptable base product?
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Yes
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No
Correct Answer
A. Yes -
- 18.
Is a Foregin Base the covers the PIQ and has more property in it considered a good base to use?
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Yes
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No
Correct Answer
A. Yes -
- 19.
When marking up the PI and GI printouts only come from the base date forward.
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True
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False
Correct Answer
A. False -
- 20.
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.
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True
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False
Correct Answer
A. False -
- 21.
Exceptions entitled" temporary easements" must not be pulled to determine if time frames has expired.
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True
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False
Correct Answer
A. False -
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Current Version
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Mar 21, 2022Quiz Edited by
ProProfs Editorial Team -
Apr 29, 2010Quiz Created by
Qcleadregina
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