LTGC Colorado Title Practice Test

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• Not all disclosures are required on every title commitment issued for the sale of residential real property. Which statement describes this general principle?
• Which statements are true for an Owner's Title Policy?
• What is the maximum monetary loss or damage a title insurer is liable for under a policy (including costs, attorney's fees, and expenses)?
• Where on the title commitment would you locate the legal description?
• What is the penalty for an insurance agent who procures payment by fraudulent representations?
• Which of the following is an encumbrance on title rather than a lien on title?
• An insurance producer is entitled to notice and a hearing prior to enforcement.
• Which statement is true about an acknowledgement on a deed signed by an attorney-in-fact for a spouse?
• For intentional violations, what is the total cap on penalties?
• A title commitment consists of which three components?
• Which instrument is used to transfer title to real property?
• In a loan secured by property, who has the security interest in the property?
• Final Action by the Commissioner is subject to which type of review?
• Which of the following is NOT a proper element in establishing a right to title by adverse possession?
• What is true about unlicensed agents under Colorado law?
• In most real estate loans, which party is the creditor providing loan funds?
• Where on the title commitment would you find the title defects?
• Which of the following is a characteristic of joint tenancy?
• A Title Insurance License allows one to write:
• Regarding title insurance, when a claim is paid, which statement is normally true?
• What is the simplest method for vesting of a marketable title after John's death in a joint tenancy with Jane?
• The prevailing rate schedule adopted by the Colorado Title Insurance Rating Bureau is designed to establish which of the following?
• A title insurance company and title insurance agent may not use a rate unless which condition is met?
• Which schedule contains CC&Rs, in the context of title commitments?
• Through the NAIC, state regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. This describes the NAIC's role as which of the following?
• Which document would be used to transfer property with covenants of title?
• An unlicensed agent is guilty of a misdemeanor and upon conviction is subject to both a fine and/or imprisonment. Which option best describes this penalty?
• Which statement about the consumer disclosure regarding interest earnings is true?
• Who issues agents' licenses to represent a nationwide business conducting business in Colorado?
• Which statement best explains the purpose of licensing insurance agents?
• Which statement is NOT included in a Settlement Producer's scope?
• When issuing an Owner's Policy, the schedule of title insurance rates applies to the fair value of the property insured, which is which?
• Which statement describes a required element when recording a conveyance of Colorado real property?
• Easements may be extinguished by: abandonment (non-use) use. This describes which method?
• Which of the following is NOT a community easement?
• Which document is typically recorded in land records, based on standard practice?
• Which form of evidences of title contains no printed exceptions in Schedule B?
• A person who is not a licensed agent of an insurance company, but who negotiates contracts for title insurance, is called:
• Which statement best describes the role of a person who negotiates title insurance contracts but is not a licensed agent of an insurance company?
• Under the current commitment form, the obligation is not intended to replace either the ALTA Owner's Policy or the ALTA Lender's Policy. Which statement best reflects this?
• The rates charged for title insurance are regulated by:
• What is the penalty described for a title insurer using an unapproved policy?
• Which instrument is used to transfer ownership (vesting) of real property?
• When must the Commissioner be notified after a change of address by an individual licensee or agency licensee?
• What type of penalty is imposed for violation of insurance law?
• Under the Colorado documentary transfer tax, which statement is true?
• Where on the title commitment may you find the underwriter's name?
• Which of the following defects, liens, encumbrances, or adverse claims do current title insurance policies indemnify against?
• Which term is used to identify the lender in a real estate financing agreement?
• Which statement best describes title insurance?
• In the context of Owner's Title Policy, which statement is true?
• What is the meaning of 'Lots 1, 2, 3, 4, 5, AND 6'?
• Which statement is untrue?
• What is the curative statute of a mechanic's lien?
• Which statement best describes the distinction between a commitment for title insurance and a policy of title insurance?
• Which of the following is NOT an attribute of an insurance producer's license?
• An instrument affecting the title to real property recorded without being acknowledged imputes notice to all persons and is deemed to have been properly acknowledged upon expiration of how many years from the date of execution?
• What is the total cap on penalties for standard violations?
• Which policy type is typically issued to protect a lender's interest in real property?
• Which of the following forms of evidence of title does not insure against unmarketability of title?
• Tenants in Common: If a deed does not specify a tenancy and there are two or more grantees, which tenancy is presumed by law?
• In practice, who typically makes the initial request to obtain an agent's license?
• Deeds of Trust with no due date have a term of how many years from date of recording?
• Which of the following items is included in the permissible premium described?
• Which statement about title insurance indemnification is correct?
• Which statement correctly identifies a type of title insurer by its origin?
• Pursuant to the current form of commitment for title insurance, the obligation under it is not intended to be in lieu of which of the following?
• Which item would be included in a Lot and Block Description?
• Endorsements may be used only after what condition is met?
• No title insurance commitment or endorsement is authorized for use unless which condition is met?
• What is the best definition of a marketable title?
• Upon death of a resident, title to real property in the state is subject to which of the following?
• The Commissioner examines all requests and which other form for licenses?
• One duty of the Colorado Title Insurance Rating Bureau is to analyze the cost of doing business and determine what?
• What is the typical result of divorce on joint tenancy?
• Which Uniform Acts have been adopted for use in Colorado?
• An evidence of title that ensures the foundation of a building on land is within the land's boundaries is most appropriately contained in:
• Which policy is typically issued to lenders to insure their security interest?
• In the metes and bounds description, which element must be located?
• Which statement is true about the definition of land in title insurance?
• Who is the lender in a mortgage agreement that secures the loan with property?
• If an instrument affecting title is recorded without proper acknowledgement, what is its effect on notice?
• The Insurance Commissioner conducts which type of exams as often as the Commissioner deems appropriate?
• A UCC-1 financing statement is part of which regulatory framework?
• A UCC-1 financing statement is filed with which office?
• What year was LTG created and grandfathered in?
• A title insurance company formed in a state other than Colorado is an example of what type of title insurer?
• In a priority dispute between a deed recorded in one county and a later deed recorded elsewhere, which statement is true?
• In each of the following deeds, which grantee is properly identified as a person acting in a representative capacity?
• Which document is not a document that will be recorded in the land records?
• The Insurance Commissioner disseminates general information concerning which topic to the public?
• Which legal concept extinguishes an easement when it is not used for a statutory period?
• The warehouse can be sold separately from the land and removed therefrom to satisfy liens.
• Which item is required to record a conveyance of Colorado property?
• Is a death certificate for a deceased joint tenant required to complete the chain of title?
• Which of the following is a standard form of evidence of title?
• What is the penalty applicable to an insurance company using a policy that has not been approved?
• In a title commitment, the notification of gap coverage should be presented in what manner?
• Which form of evidence of title is an endorsement to ALTA lender's policy?
• On a title commitment, where are the CC&Rs located?
• Which of the following are referred to as encumbrances on title rather than liens on title?
• Which items are identified by an Ownership and Encumbrance Report (O&E)?
• In a scenario where an acknowledgment of a deed of trust was made by a notary public in one county while the deed is recorded in another, which statement is true?
• Easements may be extinguished by: title decree against easement holder. This describes which method?
• In Colorado, claims against a decedent are subject to a curative statute of how many years?
• When a seller holds title in a leasehold interest, which statements are true?
• Which statement about temporary licenses issued to agents by the Commissioner of Insurance is correct?
• A fee to wire proceeds funds would be considered what kind of fee?
• In any Colorado county other than Denver, filing of a petition in bankruptcy will not constitute constructive notice unless there is recorded what?
• Which activity is not prohibited for an insurance licensee?
• Which is a special lien?
• Which item is included within the permissible premium charged for a policy of title insurance?
• Which statement is true about redemption after foreclosure?
• The transfer of title to water rights is governed by which set of requirements?
• Which of the following is included in title insurance rates under Colorado law?
• The State of Colorado instituted litigation to acquire title to a portion of real property. What is the nature of this action generally called?
• Which statement describes the survivorship principle in joint tenancy?
• The person who investigates or adjusts losses arising under insurance policies on behalf of the insurer or the insured is called?
• Certificates of Authority to title insurance companies permit them to transact insurance business in which contexts?
• Which following activity is not prohibited?
• Which lien is filed with the Secretary of State?
• The state instituted litigation for acquiring title to a portion of real property; what is this action commonly referred to as?
• In a tenancy in common, what happens to the interest of a deceased co-tenant?
• The recital about lack of priority of the lien of the insured mortgage because the loan proceeds may not have been fully disbursed at the date of policy is most appropriately included in which ALTA policy?
• A charitable donation may be made by a title entity if:
• The title commitment is formed in connection with an application for title insurance and includes a report, an application, and a statement.
• A mechanic's lien must be filed for record within how many days after completion?
• Which term best describes insuring against liens and defects in title?
• Current title insurance policies indemnify against loss caused by which of the following defects, liens, encumbrances, or adverse claims?
• Which statement about agency authority in title insurance is true?
• In affiliated business arrangements, payments to the referring party must be disclosed on the closing statements.
• A duly executed power of attorney appoints an agent with express authority to act 'in respect to any of my property'. Which acts should not be relied upon for title insurance purposes?
• Rates are effective for how long once filed?
• Which entity regulates title insurance rates in the state where the company does business?
• To record a conveyance of Colorado real property, which is required?
• The act of insuring, guaranteeing, or indemnifying an owner of real property against loss or damage due to liens and encumbrances, defects in, or unmarketability of title is called what?
• To vest the estate after death in joint tenancy, which document is commonly recorded?
• In a real estate loan, who receives the property as collateral to secure repayment?
• What may be ordered to be paid from an insurance producer?
• In a mortgage transaction, which party provides financing for the purchase?
• Which item is most appropriately described as Endorsement to a Policy?
• The recital 'payment to or for the account of the mortgagor of the full consideration for the estate or interest or mortgage to be insured' is most appropriately adapted for use in a
• Who legally acts as the representative of a title insurance company?
• To be valid against a purchaser of personal property in Larimer County, where must a notice of tax delinquency be filed?
• Which schedule in the title commitment contains CC&Rs, for quick reference?
• Which statement is true regarding bankruptcy?
• The Insurance Commissioner is the head of which unit within the regulatory structure?
• Easements may be extinguished by: dominant/servient tenement owned by the same person. This describes which method?
• For a typewritten Last Will and Testament of a person over 18 who is a resident of Colorado, which requirement is necessary?
• The Commissioner reviews annual what filed by insurance companies?
• What type of penalty may be assessed?
• Which party is the lender who funds the purchase in a mortgage transaction?
• In Colorado, a title insurance company cannot participate in the co-ownership and management of a title plant.
• Who is responsible for the acts of its authorized agents in title commitments for residential property sales?
• Does a vesting deed need to reflect joint tenancy?
• Rates would be considered excessive if which condition existed?
• Under the state inheritance and succession tax statutes, which statement is true?
• Which items are included within the permissible premium charged for a title insurance policy?
• Which of the following events would require notification within 30 days due to fiduciary funds?
• Which statement best describes a Quit Claim Deed?
• Which method extinguishes an easement by a court action that resolves title against the easement holder?
• What is the approved manner in which a title insurer is supposed to write over, or insure through, record encumbrances or defects in title?
• A record owner conveyed 'THE N1/2 OF SECTION 18, TOWNSHIP 4 SOUTH, RANGE 67 WEST'. Which additional interests were transferred?
• Which of the following activities is NOT PROHIBITED?
• A notice of pendency for a mechanic's lien action must be recorded within how many months from the lien recording date?
• Which proposed name would comply with state law for the partnership name change to emphasize title insurance?
• Which statement about Colorado foreclosure is true?
• A title search and examination must involve which two elements?
• What is the penalty for an insurance company using a policy that has not been approved?
• In which conveyance was a valid joint tenancy not created?
• What does the prevailing title industry rate schedule establish?
• In the context of a mortgage, which party is the lender who supplies funds?
• Which recital should owners and lenders always expect to be excluded from coverage in their title insurance policies?
• In a secured real estate loan, which party holds the security interest in the property?
• To hold a title insurance company liable for the acts of one of its agents, which statement is true?
• Which rate is the judgment rate of interest?
• What document must title insurance companies obtain to transact business in the state?
• What is the document called that commits to issue a title insurance policy?
• A title insurance company is prohibited from...
• In a warranty deed, who is the recipient of the title?
• Which statement about title insurance rates and regulation is true?
• What is the minimum age of requirement to hold a Title Insurance Producer License in Colorado?
• Which of the following can transfer property?
• Which action is used to take private property for public use?
• Which term describes insuring, guaranteeing, or indemnifying an owner of real property against loss due to liens or defects in title?
• For intentional violations, what is the penalty per violation?
• What effect does a divorce decree have on a joint tenancy?
• Under Colorado law, which item is included in title insurance rates?
• In how many business days must a title entity responsible for closing record the documents?
• A charitable donation by a title entity must be made directly to the charitable organization. This statement is:
• Which form of concurrent ownership allows a deceased co-owner's interest to pass to their estate?
• Who confirms the appointment of the Insurance Commissioner?
• What is another name for a lender in the loan process?
• O&E stands for which of the following in title terminology?
• In a scenario where an unmarried record owner executed a deed to San Francisco and later a quit claim deed to the same property is recorded in Douglas County, which statement is true?
• Which statements are characteristic of a lender's policy? (Choose one or all that apply)
• Which of the following are deeds of conveyance? (May be one or more answers)
• What is required on the deed to create a valid joint tenancy?
• A broad power of attorney clause states 'to do and perform all and every act and thing what he could do with respect to any of my property'. Regarding title transfers, which statement is most accurate?
• For a standard violation of insurance law, what is the maximum penalty per violation?
• O&E stands for Ownership and Encumbrance Reports. Which is a correct expansion?
• Which statement best describes a joint tenancy?
• The State Exam refers to CCRs listed in Schedule B2 as what type of exception?
• For the tax assessment lien to be valid against a purchaser located in Larimer County, where must a notice be filed?
• The Colorado Title Insurance Rating Bureau is a non-profit Colorado corporation organized on behalf of which group?
• Which statement BEST describes a Settlement Producer?
• The process used to transfer property after the death of a sole owner
• Which method can extinguish an easement if the property is destroyed?
• Which of the following is not an attribute of an insurance producer's license?
• Included within the permissible premium charged for a policy of title insurance are the following?
• In a Lot and Block Description, which element identifies the subdivided area?
• For insurance purposes, title acquired by adverse possession will never be marketable unless
• Pursuant to the form of commitment for title insurance in current use, the obligation there under is not intended to be in lieu of which of the following?
• A title entity issuing a policy is required to preserve and maintain a copy for how long from recording the deed?
• In a typical real estate loan, who is the lender?
• Who is the grantee in a warranty deed?
• Which action would require notification to the Division within 30 days due to fiduciary funds?
• The Commissioner conducts examinations and what other enforcement activity?
• A certificate of taxes due should be obtained from which source?
• The practice of giving a commission or other valuable thing by a title insurer or by its agent to an owner or to a mortgagee, or to any agent, representative, attorney, or employee of them, is:
• In a case where a deed dated February 1, 1977 was recorded in March 10, 1977, and a later San Francisco quitclaim deed was recorded three days after, which statement is true?
• Which form of title evidence provides protection from loss due to the superior priority of a statutory lien for labor or materials?
• Which statement about temporary licenses is true?
• What funds cannot be commingled?
• Which statement about the Colorado Insurance Commissioner is false?
• The Insurance Commissioner adopts rules to ensure which two characteristics of the insurance marketplace?
• What phrase best describes a marketable title?
• Which item is NOT required to be disclosed to the Insurance Commissioner regarding affiliated business arrangements?
• The Colorado Title Insurance Rating Bureau serves as a ______ ______ agency to the Insurance Commissioner concerning title insurance matters.
• Which statement is NOT TRUE?
• Which description best describes a Colorado condominium?
• In ALTA/LTAC forms approved for use by title insurers, a real property security instrument identified on its face as a deed of trust is defined as what?
• What must a title company do before earning interest in their escrow account?
• What is remuneration?
• The Colorado Title Insurance Rating Bureau is which type of organization?
• Easements may be extinguished by: express release, such as executing a quit claim deed. This statement describes which method?
• Which statement best describes condominium ownership?
• The solicitation, negotiation, and execution of an insurance contract is a definition of which term?
• Which option best completes the sentence: An evidence of title is most appropriately described as what?
• Which of the following best describes the description 'N1/2 of Section 18, Township 4 South, Range 67 West'?
• An affiliated business arrangement that creates a title entity is required to do what?
• Which form of evidence of title does not insure against unmarketability of title?
• Who is the party that holds the lien on the property until the loan is repaid?
• For title insurance purposes, reference to the Articles of Incorporation indicates what?
• Under CRS 31-15-401 (c) City Liens (cannot be foreclosed out) term is?
• Which of the following correctly describes a lot and a portion of a lot?
• Subrogation is defined as what?
• Which statement about the authority of a notary public in Colorado is true?
• A typed last will and testament of a person over the age of 18 years and a resident of Colorado is required to be subscribed to by at least how many witnesses?
• What is the role of the Colorado Title Insurance Rating Bureau as it relates to rate schedules?
• Who normally requests the agent's license?
• Under Colorado law, a foreign title insurance company may write insurance policies only if...
• Which document identifies CC&Rs within a title commitment?
• Which term describes money paid to influence decisions or actions in real estate transactions?
• Which estates are not subject to all the rights normally attributed to real property?
• Which document below is recorded in the land of records?
• In Colorado, if a wife signs a conveyance as attorney-in-fact for her husband who jointly owns the property, which statement is true?
• Which statement about homestead is false?
• Which disclosure is not required on every title commitment issued for the sale of residential real property?
• In a tenancy in common, can co-owners hold different percentages?
• If title is held as Angela & Bob 50% as joint tenants, Chuck 25%, and David 25%, and Chuck dies, Angela holds what percent?
• What is the legal process of transferring property upon the death of a sole owner?
• An evidence of title that assures the insured land abuts upon a physically open street is characteristic of
• Where on the title commitment would you find the listed title requirements?
• When a seller holds title in a leasehold interest, which of the following is true?
• Which combination describes the points necessary for a good metes and bounds legal description?
• This is an example of what when a real estate agent asks for business cards without a charge?
• Under the Uniform Probate Code, the administration of the estate of a Colorado resident who died owning fee title to Colorado real property may be which proceedings?
• Which activity is NOT prohibited, according to the policy described?
• What does the acronym O&E stand for in title practice?
• Pursuant to the current form of commitment for title insurance, the obligation of the issuing company is:
• The Insurance Commissioner supervises which area of the insurance regulation?
• In which U.S. District Court office in Colorado may there be filed and kept the original records of a bankruptcy proceeding?
• Which statement best describes a title commitment?
• How many sections are in a township?
• During the loan process, the entity that provides funds to the borrower is called the?
• Which statement best describes a foreign title insurance company?
• Which option describes the penalty for an unlicensed agent acting as the representative of a title insurance company?
• Under the documentary transfer tax rules, which statement is true?
• Which of the following disclosures may appear on a residential title commitment?
• Which statement best describes a good metes and bounds description?
• Which penalty applies to an unlicensed agent who represents a title insurance company?
• Which document contains the recital "payment to or for the account of the mortgagor of the full consideration for the estate or interest or mortgage to be insured"?
• The National Association of Insurance Commissioners (NAIC) is created and governed by whom?
• Which item is NOT typically identified in an Ownership and Encumbrance Report (O&E)?
• Which method extinguishes an easement by abandonment of non-use?
• Insurance against loss the insured may sustain by reason of any incorrectness in the assurance the company gives that, except as shown in Schedule B, there are no present violations on said land of any enforceable covenants, conditions, or restrictions, is afforded in which form of evidence of title?
• In a tenancy in common, which statement is true about ownership?
• A person's interest in the property is limited for a specific period of time. This describes which type of property interest?
• Which statement is correct about the components of a permissible title insurance premium?
• Which term completes the phrase 'suspend, ________, or refuse to issue' in the Commissioner’s authority?
• If a corporation fails to file or record evidence of its powers with respect to real property in Colorado, what result occurs?
• Which term completes the sentence: Builder discounts that are properly filed and justified in the rate or fee filings are ______, however volume discounts are not permissible.
• Which policy type is specifically designed for construction loans?
• Which statement is NOT true regarding controlled business means?
• Which statement correctly completes this sentence: The obligation of the issuing company under the current commitment is not intended to be in lieu of either policy?
• A Colorado statute requires the street address on all conveyances of real property where the property has a street address. What is the consequence of failing to include the street address?
• What is the statute of limitations for deeds of trust with a due date?
• Which document is used to outline the terms under which title insurance will be issued?
• Which of the following statements about the 30-day notification requirement for title insurers is correct?
• In an affiliated business arrangement, compensation to the agent who refers business is allowed only in what form?
• Which part indicates the type of owner's policy being issued?
• A title insurer would be considered foreign if it is formed in which jurisdiction?
• Under CRS 38-35-106 Acknowledgement (Defective) the valid years are?
• Which term describes a modification to a title policy that is specifically filed?
• Which endorsement is designated as PNTI 300 Endorsement?
• The following recital would be most appropriately included in which title insurance policy? 'This policy does not insure against loss or damage by reason of the refusal of any person to purchase, lease, or lend money on the property, estate, or interest described in Schedule A.'
• Which statement best describes the curative statute period for a mechanic's lien?
• Which grantors would have acquired fee title under a deed from an unmarried sole record owner conveying to Meredith and Derek?
• What is meant by 'Lots 1 to 6 inclusive'?
• Which individuals associated with a title insurance company is required to be licensed as an insurance agent?
• Which term designates the lender in a mortgage agreement?
• What does the prevailing title industry rate schedule adopted by the Colorado Title Insurance Rating Bureau establish?
• Which action is required when there is a change in address for an individual or agency insurance producer licensee?
• The failure of a corporation to file or record in every county evidence of its powers results in what legal effect?
• Who normally requests a title insurance agent's license?
• You are approached by a real estate agent to supply business cards to them without charge. This is an example of what?
• The page that states the owner's policy type being issued is Schedule A & Fee Page. Which option lists that phrase?
• The Insurance Commissioner is appointed by which entity and confirmed by which body?
• Under the documentary transfer tax rules, which statement is true?
• The refusal of a company's agent to submit to examination or to comply with any reasonable written request shall be a:
• In Colorado, an instrument affecting title to real property that is recorded without proper acknowledgment imputes notice to all persons after what event?
• In which form of concurrent ownership is the right of survivorship a defining feature?
• How long after a title insurance company files a new rate before it takes effect?
• The Insurance Commissioner conducts which exams at least once every five years?
• In an Owner and Encumbrance Report, which item identifies the last recorded owner?
• A general federal tax lien against an owner of real property is valid as a secret lien against which persons?
• Which individuals associated with a title insurance company are required to be licensed as an insurance agent?
• In real estate finance, which role receives the property as collateral?
• Under Regulation 8-1-3, within how many calendar days must the final title policy be issued after closing?
• Which statement about rate changes timing is true?
• A title company formed in a state other than Colorado is an example of:
• Which policy type would typically protect an owner's interest in real property?
• The 15-year term for deeds of trust is measured from which date?
• The Bureau's duties include which actions regarding rules for the administration of the title insurance business?
• A temporary agent's license is issued to an applicant. Which of the following is true?
• Who normally initiates the process to obtain an agent's license?
• Paying agents to fly to a golf destination would be an example of which concept?
• Under a lender's policy, the insurer's liability ends when the insured's interest ceases.
• In title insurance, the definition of land includes which of the following?
• Where on the title commitment would you find the insurer's liability to the lender listed?
• Which policy form is typically used for construction loan financing?
• Which statement best reflects the effect of unpaid inheritance taxes under state law?
• What is the curative statute of a deed of trust that has no majority date listed?
• Which statement best describes the probate proceedings allowed under the Uniform Probate Code in Colorado?