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Last Updated: Jul 03, 2026
No. of Questions: 67 Questions & Answers with Testing Engine
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1. An agent who collects money from an insured and holds it for payment to the insurer is
A) acting in a fiduciary capacity.
B) commingling funds.
C) providing coverage.
D) wrongfully withholding funds.
2. Which of the following is the broadest form of ownership allowed by law?
A) easement estate
B) life estate
C) fee simple
D) leasehold
3. What must accompany the satisfaction piece when presented for recording?
A) The final receipt
B) The payment record
C) The certificate of title
D) The original mortgage instrument
4. A notarized deed ensures that the
A) deed can be recorded.
B) deed is legally binding.
C) title is transferred.
D) title is clear.
5. What is the purpose of probate of an estate?
A) to avoid inheritance tax
B) to establish heirs
C) to transfer a deceased's debts
D) to foreclose a lien
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: B |
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