Ut Base Forward Procedure Q2 2010

21 Questions | Attempts: 38
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    What is a valid base?

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About This Quiz

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

Chemistry Quizzes & Trivia

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  • 2. 

    Should you ever use a comparable base when the PIQ is a condominium?

    • Yes

    • 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.

    • True

    • False

    Correct Answer
    A. False
  • 4. 

    You can always use a Letter Report as a base.

    • True

    • False

    Correct Answer
    A. False
  • 5. 

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

    • True

    • False

    Correct Answer
    A. False
  • 6. 

    What are the rules on using a Vesting as shown on a direct base?

    • It is current vesting

    • Covers 100% interest

    • Has been proofed for errors

    • 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?

    • Screener

    • Searcher

    • Vasu

    • Examiner

    • Auditor

    Correct Answer
    A. Examiner
  • 8. 

    What are the rules is using the legal description as shown in a direct base?

    • It describes PIQ

    • Has been proofed for errors

    • 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.

    • True

    • 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.

    • True

    • False

    Correct Answer
    A. True
  • 11. 

    Show all survey matters on the base

    • True

    • 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?

    • 10 days

    • 20 days

    • 30 days

    • 3 months

    • 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

    • True

    • False

    Correct Answer
    A. True
  • 14. 

    Foregin bases may be requested through IM.

    • True

    • False

    Correct Answer
    A. False
  • 15. 

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

    • True

    • False

    Correct Answer
    A. True
  • 16. 

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

    • Yes

    • No

    Correct Answer
    A. Yes
  • 17. 

    Is a Misc. Report an acceptable base product?

    • Yes

    • 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?

    • Yes

    • No

    Correct Answer
    A. Yes
  • 19. 

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

    • True

    • 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.

    • True

    • False

    Correct Answer
    A. False
  • 21. 

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

    • True

    • False

    Correct Answer
    A. False

Quiz Review Timeline (Updated): Mar 21, 2022 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 21, 2022
    Quiz Edited by
    ProProfs Editorial Team
  • Apr 29, 2010
    Quiz Created by
    Qcleadregina
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