Real Estate Chapter 5

What is synonymous with a preliminary report of title?

Easements grant the right to use portions of the property to whom?

When an escrow officer sends a check to pay off a loan, what must it include?

The reconveyance discharges the relationship between which parties?

How should you determine the prorating of a three-year insurance policy?

Which fees are included in loan fees?

When is the commission for the real estate salesperson paid?

When does calling for the buyer's funds typically occur?

What must occur before calling for the buyer's funds?

The final closing statements must be on a form approved by whom?

Multiple Choice Questions Answers

A preliminary report of title is synonymous with "both a and b," indicating that it can be referred to as the prelim or the title report.
Easements grant the right to use portions of property to "all of the above," which includes persons, entities, and properties.
When the escrow officer sends a check to pay off a loan, it must include "all of the above," which covers principal, interest, and interest to cover mailing time.
The reconveyance discharges the relationship between "all of the above," involving the trustor, trustee, and beneficiary.
To determine the prorating of a three-year insurance policy, you should "divide by 3, then 360" to arrive at the monthly cost.
Loan fees encompass "all of the above," including loan origination fee, loan processing fee, and credit report.
Commission for the real estate salesperson is paid under "neither a nor b," meaning it is dependent on specific circumstances around escrow.
Calling for the buyer's funds typically occurs "near end of escrow," indicating a critical later-stage activity in the transaction.
Calling for the buyer's funds takes place only after "all of the above" actions have been completed, such as drawing a new deed and receiving reports.
The final closing statements must be on a form approved by "HUD," which implies adherence to federal guidelines for real estate transactions.

Test your knowledge on key concepts from Chapter 5 of real estate studies. This quiz covers essential topics such as title reports, easements, and escrow processes with multiple choice questions to enhance understanding.