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19 Cards in this Set
- Front
- Back
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The purpose of the Notice to Purchase- Mortgager is to: |
Tell them the loan policy does not protect them as an owner |
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Rate the Title premium for a $14,000 owner's title policy |
$100 |
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What is the minimum risk rate premium that me be charged for an owner's title policy? |
$100 |
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An owner's policy must be issued for full insurable value of: |
The Premises |
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What is the minimum risk premium that may be charged for a mortgage title policy? |
$100 |
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A mortgage title insurance policy may not be issued for less than the |
Full Principle Debt |
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What is the maximum percentage above the full loan amount for which a martgage title policy may be issued, without an Additional Interest or Shared Appreciation Endorsement? |
25% |
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What is the reissue risk premium for a $25,000 owner's title policy? |
$100 |
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The minimum risk rate premium for a simultaneous issue loan policy shall be: |
$25 |
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On a simultaneous issue transaction, the risk premium on the amount of the loan policy in excess of the owner's policy shall be figured at |
Regular original title insurance rates for mortgage policies |
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The minimum retention of title premium be the title insurers is |
30% |
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The required retention of title premium funds must be remitted to the insurer by the agent atleast |
monthly |
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Until the required retention funds are remitted to the insurer by the agent, such funds are considered |
Collected Funds |
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What endorsement may not be issued without approval from the Department[OIR]? Deletion of General Exceptions Gap Coverage Endorsement Florida Form 9 Change in Loan policy effective dates |
Florida Form 9 |
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The risk rate premium for a Florida Form 9 Endorsement shall be |
10% of total policy premium |
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The risk rate premium for Navigational Servitude Endorsement shall be |
10% of total policy premium |
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Title insurance is limited to |
coverage of real property |
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Individual escrow records for each transaction, in which deposits and disbursements are made, must be maintained by the title insurance agent for what period of time? |
3 years |
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Monthly Escrow account reconciliation records must be maintained for: |
5 years |
