MaryLand State Portion of Title Producer Exam

MaryLand State Portion of Title Producer Exam Latest Update - Questions and 100% Verified Correct Answers Guaranteed A+ Approved by the Professor

• If a party uses a fictitious or different name than its business name, it must be

approved by the

• Maryland Insurance Administration
• National Association of Insurance Commissioners
• Maryland Land Title Association

d. American Land Title Association - CORRECT ANSWER: a. Maryland Insurance

Administration

• When there is termination of the appointment by a title insurer, the insurer must

update the producer register within how many days.

• 15 days
• 30 days
• 45 days

d. 60 days - CORRECT ANSWER: b. 30 days

• When the application of a business entity for a license as a title insurance producer is

submitted, said entity shall file with the Commissioner a blanket fidelity bond or letter of credit in this amount.

• 100,000
• 150,000
• 10,000

d. 110,000 - CORRECT ANSWER: b. 150,000

• Unclaimed property must be escheated to the State of Maryland if it remains

unclaimed by the owner of said property within what time frame? 1 / 2

• After 1 year of contacting owner and not receiving a reply
• After 1 year of sending the unclaimed property
• After 3 years of contacting owner and not receiving a reply

d. After 3 years of sending the unclaimed property - CORRECT ANSWER: d. After 3

years of sending the unclaimed property

• When a non-resident owner sells property within Maryland, they will be charged by

the title producer and will collect from what amount?

• Recordation taxes
• Net proceeds
• Loan Amount

d. Half of the total payment - CORRECT ANSWER: b. Net proceeds

• Under the Real Estate Procedures Act of 1974, all parties to certain real estate

transactions receive a uniform settlement statement called:

• Loan Estimate
• Good Faith Estimate
• Warranty Disclosure

d. Closing Disclosure - CORRECT ANSWER: d. Closing Disclosure

• All employees under a title insurance producer company must be licensed per

Maryland Code EXCEPT:

• Escrow Officers
• Closing Agents
• Settlement Officers

d. Administrative Assistants - CORRECT ANSWER: d. Administrative Assistants

• Each title insurer must hold to the rates as approved by the Commissioner and may

not deviate from said rates. Doing so would be considered:

• Rate Discrimination
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