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109 Cards in this Set

  • Front
  • Back
The Notary's duties are clearly defined by state law.
True
If a Notary changes jobs, the Notary should take the journal with him/her.
True
The venue in a Notary certificate is always the state and county where the document will be filed.
False
There are three main methods for creating false ID cards- altering, counterfeiting, and duplicating.
False
State Statutes generally are silent on the issue of screening document signers for willingness.
True
A Notary may be guilty of a misdeameanor if the Notary knowingly destroys, defaces, or conceals records.
True
"Jurat" in Latin means "affidavit"
False
Depositions may be used in formal court proceedings and in a variety of other circumstances.
True
A Notary should record the details of a declined notarization in the journal.
True
Notaries may be held liable for official misconduct under laws governing public servants of the state.
True
Authentication refers to the practice of establishing the Notary's credentials and authority to notarize a document.
True
Minors never can sign documents and have their signatures notarized.
False
Checking an ID card for inconsistencies in color, texture, or lamination is one way to spot a false ID.
True
A journal signature should be reasonably similar to the document signature.
True
"loose" certificates may be completed in addition to the wording provided on the document.
False
A Notary's jurisdiction includes:
a) The state that granted the Notary commission.
b)a bordering state
c)Any U.S. state or jurisdiction
d)All of the above
a) The state that granted the Notary commission.
In which of the following cases may personal appearance by the signer be waived?
a) A subscribing witness signing for a principal signer.
b) A person signing in an individual capacity.
c) A person signing as attorney in fact for a principal signer.
d) both a) and c)
a) A subscribing witness signing for a principal signer.

c) A person signing as attorney in fact for a principal signer.
d) both a) and c)
In performing their duties, ministerial officials such as Notaries:
a) Rely mainly on their own discretion and good judgment.
b) Follow simple written rules
c) May assist signers in drafting documents.
d)Respond only to requests made in writing.
b) Follow simple written rules
An immigration consultant who poses as a Notary could be found guilty of:
a)engaging in the unauthorized practice of law.
b)Misrepresenting the Notary office.
c)Exerting improper influence.
d)all of the above
d)all of the above
An acceptable blank space on a document submitted for notarization might be:
a)The address of property on a deed
b)Personal financial information.
c)The date of signing on a document requiring multiple signers.
d)The yet-to-be determined interest rate on a variable-rate mortgage.
c)The date of signing on a document requiring mltiple signers.
When a document requiring an acknowledgement is signed before being presented to the Notary:
a)It must be signed again in the Notary's presence.
b)The signature may be acknowledged by the signer
c)A new document must be signed in front of the nortary.
d)None of the above.
b)The signature may be acknowledged by the signer
When the names of a husband and wife already have been typed on a certificate, but only the husband appears before the Nortary to have his signature notarized, then:
a)The wife's name must be crossed out by the Notary.
b)The certificate may be used as is if the wife will appear before the same Notary that same day.
c)The certificate may be used as is if the wife plans to appear before a different Notary.
d)The husband's signature may not be notarized unless the wife also appears before the Notary at the same time.
a)The wife's name must be crossed out by the Notary.
An oath is a spoken promise of truthfulness that:
a)Does not appeal to a Supreme Being.
b)May not be taken by one person on another's behalf.
c)Always requires raising a hand in pledging gesture.
d)always requires completion of a Notary certificate.
b)May not be taken by one person on another's behalf.
To establish willingness to sign a document, the Notary must determine that a person:
a) Has signed the document voluntarily without duress.
b)Will sign the document in the future.
c)Has signed the document after seeking the advice of an attorney
d)Has authorized another person to sign the document
a) Has signed the document voluntarily without duress.
When replacing a preprinted certificate with a "Loose" certificate, which of the following instructions should be followed:
a) The "loose" certificate should be slipped behind the preprinted certificate.
b)The "Loose" certificate and preprinted certificate should contain the Notary's seal.
c)A "loose" certificate should be signed in addition to the preprinted certificate.
d)None of the above
d)None of the above
A sign that advertises, "John Shaw, Notary Signing Agent," is considered to be:
a)Overly commercial
b)A misrepresentation of the Notary's office.
c)Perfectly legal and ethical
d)Improper and must instead say "Johns Shaw, Notary Public."
c)Perfectly legal and ethical
A Notary's knowing completion of a Notary certificate containing a false statement is:
a:Acceptable if the signer agrees.
b: A criminal act.
c:Allowable if ordered by an employer.
d:punishable only if intentional.
b: A criminal act.
In a jurat, what guarantee is the Notary not making?
a: The identity of the signer
b: That the document was signed in the presence of the Notary.
c:That the signer personally appeared before the Notary.
d:That the signer took an oath or affirmation.
a: The identity of the signer
Personal knowledge of identity:
a: is more reliable than using an ID card
b:Is less reliable than using a credible witness
c:Is less reliable than using an ID card.
d:None of the above
a: is more reliable than using an ID card
In which of the following is personal interest a factor?
a:Notarizing for a relative.
b:Notarizing one's own signature.
c: Notarizing when the Notary's personal affairs are involved.
d:All of the above.
d:All of the above.
The "Transfer of Servicing Disclosure" is a commonly notarized form.
False
Memorial Day is considered a federal legal holiday for the purpose of figuring a rescission period date.
True
The Notary Signing Agent is also the "Settlement Agent" in the transaction.
False
Lenders prefer to ship documents to the Notary Signing agent because of the Agent's role as impartial witness in the transaction.
True
A Deed of Trust or Mortgage may not be notarized with a document date that is before the actual date of signing.
False
The "Borrowers First Payment Information" may be used as the borrower's initial payment voucher.
True
The "affiliated Business Arrangement Disclosure" is required by the federal Truth in Lending Act statute
False
The "secondary market" is a term that refers to the market for the buying selling of existing mortgages.
True
If the documents are shipped to the borrower, the Notary Signing Agent should ask the borrower to review the documents for the correct spelling of all names.
True
By signing the "Borrower's Certifications & Authorization," the borrower authorizes the lender to disclose the information contained in the loan appplication to any investor looking to purchase the loan.
True
At a loan signing when there is a discrepancy between the "HUD-1 Settlement Statement" and the Good Faith Estimate of Settlement Costs," which of the following document contains the most accurate figures?
a:The "Good Faith Estimate of Settlement costs."
b:The HUD-1 Settlement Statement."
c: The "Loan Package Worksheet."
d: The "Instructions to Escrow."
b:The HUD-1 Settlement Statement."
Which of the following is not considered a business day for the purpose of calculating a recission period date?
a: Sunday
b: Saturday
c: Veterans Day
d: both a: and c:
d: both a: and c:
The Notary Signing Agent must pay self-employment taxes.
a: On all qualifying self employment earnings of $600 or more.
b: On all qualifying self employment earnings of $400 or more.
c: On all Notary fees received.
d: None of the above
a: On all qualifying self employment earnings of $600 or more.
The "Transfer of Servicing Disclosure":
a: Discloses the probability that the borrower's impound account will be transferred to another servicer.
b: Discloses the probability that the loan will be assigned, sold or transferred to another servicer.
C: Discloses the probability that the closing agent will service the loan beyond the closing.
d: All of the above
b: Discloses the probability that the loan will be assigned, sold or transferred to another servicer.
If documents are signed on Monday, May 20 at 7:00 p.m., when would the three day rescission period end?
a: Wednesday, May 22, at midnight.
b: Thursday, May 23, at midnight
c: Thursday, May 23, at 12:01a.m.
d: Friday, May 24, at 12:01 a.m.
b: Thursday, May 23, at midnight
Which of the following documents discloses the amount of prepaid finance charges for a loan?
a: The "Note."
b: The "biweekly payment rider"
c: The "mortgagor's affidavit."
d: The "Itemization of finance charges."
d: The "Itemization of finance charges."
Which of the following questions may a Notary Signing Agent answer without providing unauthorized assistance?
a: When will my loan close?
b: Why does my loan not contain an assumption option?
c: Where can I find the payment schedule for my loan?
d: Is my prepayment policy typical of other such policies?
c: Where can I find the payment schedule for my loan?
Which of the following factors has helped to expand the Notary Signing Agent business?
a: The number of new refinance loans.
b: The outsourcing of loan signings.
C: Low interest rates
d: All of the above
d: All of the above
Which of the following documents is best to have signed at the beginnings of the signing?
a: The "HUD-1 Settlement Statement"
b: The "Itemization of amount financed."
c:The "Good Faith Estimate."
d: The "borrower's Certification & Authorization"
a: The "HUD-1 Settlement Statement"
What is an impound account?
a: Money paid monthly with the mortgage payment into a special account to keep the lender from foreclosing on the loan.
b: Money paid monthly with the mortgage payment into a special account to pay the settlement costs.
c: Money paid monthly with the mortgage payment into a special account to pay for property taxes and hazard insurance.
d: none of the above
c: Money paid monthly with the mortgage payment into a special account to pay for property taxes and hazard insurance.
acknowledgment
Notarial act in which a Notary certifies having positively identified a document signer who personally appeared before the Notary and admitted having signed the document freely.
Beneficial Interest
Any advantage, not necessarily financial, that results in an actual or potential gain to a Notary.
Deposition
Written Statement used in a lawsuit that is transcribed from words spoken by a person (deponent) under oath or affirmation and that is usually signed by this person.
Copy Certification
Notarial act in which a Notary certifies that a copy of a document is a true and accurate reproduction of the original.
Discretion
Freedom to act or judge on one's own, aware and heedful of the consequences.
Financial Interest
Monetary cocnsideration of benefit to the Nortary which would impugn the Notary's impartiality in a transaction involving a notarial act.
Impartial Witness
Observer without bias; one who has no financial or beneficial interest in the transaction.
Judicial Official
Public officer who uses considerable judgment or discretion in the performance of official duties.
Jurat
Notarial act in which a Notary certifies having watched the signing of a document and administered an oath or affirmation.
Jurisdiction
Geographic area in which a Notary is authorized to perform notarial acts.
Ministerial official
Public officer who follows written rules without having to use significant judgment or discretion.
Personal Interest
Any personal involvement in a transaction which would impugn the Notary's impartiality in a transaction involving a notarial act.
Public Servant
An individual elected or appointed to hold an office whose operation impacts the publics interest.
civil Law
Legal system of most European and Latin American nations which uses written codes evolving out of ancient Roman law, with judges acting as enforcers of the law.
Common Law
Legal system of england and its former colonies, which developed out of custom and unwritten law.
Attorney in Fact
Person who has authority to sign or act on behalf of another.
Restrictions on Powers of Notary Public
A Spouse, parent, grandparent or stepparent;
A natural born child, stepchild or adopted child;
A grandchild, brother, sister, half brother, half sister, stepbrother or stepsister;
A grandparent, parent, brother, sister, half brother, half sister, stepbrother or stepsister of the spouse of the Notary public; and a natural born child, stepchild or adopted child of a sibling or half sibling of the Notary public or of a sibling or half sibling of the spouse of the notary public.
Awareness
Ability to understand a document's significance.
Credible Witness
Believable person who identifies a document signer to the Notary after taking an oath or affirmation. The credible identifying witness must personally know the document signer and should also be personally known by the Notary.
Identification card
Document or card which establishes the bearer's identity. Examples include passports, drivers licenses, and nondriver's IDs, among others.
Personal Appearance
Appearing face to face and in the same room with a Notary at the time of notarization.
Personal Knowledge of identity
Familiarity with an individual resulting from interactions over a period of time sufficient to eliminate every reasonable doubt that the individual has the identity claimed.
Power of Attorney
Document granting authority for a person to act as attorney in fact for another.
Proof of Execution by subscribing witness
Notarial act where a person (called the subscribing witness) states under oath or affirmation before a Notary that he or she either watched another individual (called the principal) sign a document or took that person's acknowledgment of an already signed document. The witness must affix a signature to the document in addition to the principal's.
Satisfactory evidence of identity
Reliable identification documents; or the sworn or affirmed statement of a credible identifying witness that an individual has the identity claimed.
Willingess
State of acting without duress or undue influence; state of acting voluntarily.
Acknowledgments
a notarial act in which an individual at a single time and place:
1. appears in person before the notary and presents a document;
2. is personally known to the notary or identified by the notary through satisfactory evidence, and
3. indicates to the notary that the signature on the document was voluntarily affixed by the individual for the purposes stated within the document and, if applicable, that individual had the authority to sign in a particular representative capacity.
Jurats
a notarial act in which an individual at a single time and place:
1. appears in person before the notary and presents a document;
2. is personally known to the notary or identified by the notary through satisfactory evidence;
3. signs the document in the presence of the notary; and
4. takes an oath or affirmation from the notary vouching the truthfulness or accuracy of the signed document.
Oath
Do you solemnly swear that the statements in this document are true to the best of your knowledge and belief, so help you God?
Affirmation
Do you solemnly affirm that the statements in this document are true to the best of your knowledge and belief?
Signature witnessing
a notorial act in which an individual at a single time and place:
1. appears in person before the notary and presents a document;
2. is personally known to the notary or identified by the notary through satisfactory evidence; and
3. signs the document in the presence of the notary.
Apostille
Contains the following information:
1. Name of the country where the document originated;
2. name of the person signing the document;
3. Signers stated capacity;
4. identification of any seal or stamp on the document;
5. Location of the certifying authority providing the Apostille;
6. Date of certification;
7. Identity of the certifying authority;
8. Serial number assigned to the Apostille;
9. Certifying authorities seal or stamp;
10. Signature of the official providing the certification.
closing agent
An individual or firm handling the closing and legal transfer of title and ownership from the seller to the buyer in a real property transaction.
Escrow Company
A neutral third party that handles all funds in a real estate transation. Escrow pays the real estate broker's commission, pays off any loans/liens against the property, pays real estate taxes and an other fees associated with the transation and sends the balance of the money to the seller.
Independent conctractor
A person who earns a livelihood other than as a salaried employee.
Notary Signing Agent
A Notary Public who specialized in home loan document signings.
Real Estate Agent
A person licensed to negotiate and transact the sale of real estate on behalf of the property owner.
Signing Service
A company that serves as a middleman between closing agents and Notary Signing Agents in setting up loan document signings
Title Company
A company that specializes in examing and insuring titles to real estate.
Some documents require initials and signatures or need to be notarized:
Note, Deed of Trust, "Uniform Residential Loan Application," and various tax forms. Notice of right to cancel form
Document Date
The date located at the top of most documents (i.e., the Note and Deed of Trust or Mortgage)
Signing Date
The date the borrower signs the loan documents
Date of Notarization
The date the Notary Signing Agent notarizes a document and writes on the Notary acknowledgement or jurat certificate.
Documents signed on any date after the documents date.
Because the Note and Deed of Trust are dated with yesterday's date does not mean they cannot be signed today. In most instances, this is perfectly acceptable.
Postdated documents
Postdating a document or Notary certificate is a criminal act.
Mismatched dates on the Note and Deed
It is important that the Note and Deed of Trust or Mortgage contain the same document dates.
Date format conventions
Be consistant
Borrower dates the documents
The signing agent should never date the documents for the borrower.
Dates on the "Notice of right to cancel" form
If the lender has not entered the proper dates into the "Notice of right to Cancel" form, the Signing Agent must calculate the dates and have the borrower enter the dates into the proper places in the form.
Signatures as drawn
Documents must be signed in the name in which they are drawn.
Attorney in fact signing
immediately contact the lender for instructions.
Proof of Attorney in Fact Status
The original or a certified copy of the original power of attorney document is presented to prove a person has authority to sign and is sent back to the lender with the signed documents.
Power of Attorney Document Applies
The Power of attorney document authorizes the attorney in fact to sign for the principal. If the power of attorney document specifically permits the attorney in fact to sign for the principal in the loan transaction or is "general" (the attorney in fact may sign in all circumstances), the the signing may proceed.
Borrower's ID Card
ID card names must be more, but not less than, the name on the document.
Borrower's copies
The agent should show the borrower the borrower's set of documents and place them out of reach until the end of the signing. It is best to place the copies out of the way so the copies are not confused with the originals.
Obtain stipulations
The agent should obtain any borrower stipulations and collect any funds required at the signing. Check the HUD-1 Settlement statement and Instructions to escrow documents to look for any required stipulations.
Journal Entries
Complete the journal entries for the documents requiring notarizaton early on in the signing process and before any documents are signed.
Present key documents first
Present and sign key documents first.
1. Hud-1
2. Note
3. Notice of right to cancel
4. Deed of Trust or Mortgage
Questions not to answer
In general agents should refuse to answer "when" and "why" questions.