ALTA (American Land Title Association) title insurance policies are:
Why Comprehensive policies often required by lenders that include broader coverage than standard policies Is Correct
Answer B: Comprehensive policies often required by lenders that include broader coverage than standard policies
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
Key Escrow & Title Terms in This Question
People Also Study
Related North Carolina Questions
- In NC, 'gap coverage' in a title insurance policy protects against:Escrow & Title
- In NC, which type of title insurance coverage provides the broadest protection for the buyer?Escrow & Title
- A NC 'ALTA survey' (comprehensive land title survey) differs from a standard boundary survey in that it also identifies:Escrow & Title
- In NC, which standard exception in a title insurance policy is typically NOT covered without a survey?Escrow & Title
Key Terms to Know
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Math Concepts
Study This Topic
Practice More North Carolina Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →