Quiz 7 - Rooks - March 2006 - Quiz - 7 Principles ECC...

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1 Quiz - 7 – Principles – ECC – Robert Rooks 1. In Northern California the buyer usually pays for escrow fees. Who usually pays for them in Southern California? A. Buyer C. Both buyer and seller B. Seller D. There are no escrow fees in Southern California 2. Proration of expenses and income is based on a month with: A. 28 days. C. 30 days. B. 29 days. D. 31 days. 3. The standard fire insurance policy insures against which perils? A. Fire only C. Fire and smoke B. Fire and lightning D. Lightning, fire, and smoke 4. A title company could make a title search by searching the records of the: A. county clerk’s office. C. federal lands office. B. county recorder’s office. D. all of the above. 5. Which of the following is NOT a requirement of a valid escrow? A. Signed instructions C. Confirmation of citizenship B. Neutral party acting as a dual agent D. Conditional delivery of funds and documents 6. A recorded history of a specific property is called a: A. chain of title. C. title record.
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Quiz 7 - Rooks - March 2006 - Quiz - 7 Principles ECC...

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