LTGC Colorado Title Practice Test

These questions are part of the practice quiz. Start practicing

• Which method can extinguish an easement if the property is destroyed?
• In a typical real estate loan, who is the lender?
• Which statement is true about an acknowledgement on a deed signed by an attorney-in-fact for a spouse?
• Which statements are true for an Owner's Title Policy?
• Which entity regulates title insurance rates in the state where the company does business?
• Under the documentary transfer tax rules, which statement is true?
• A duly executed power of attorney appoints an agent with express authority to act 'in respect to any of my property'. Which acts should not be relied upon for title insurance purposes?
• Which of the following are referred to as encumbrances on title rather than liens on title?
• Which term completes the sentence: Builder discounts that are properly filed and justified in the rate or fee filings are ______, however volume discounts are not permissible.
• Which grantors would have acquired fee title under a deed from an unmarried sole record owner conveying to Meredith and Derek?
• What does the prevailing title industry rate schedule adopted by the Colorado Title Insurance Rating Bureau establish?
• Which penalty applies to an unlicensed agent who represents a title insurance company?
• In a tenancy in common, can co-owners hold different percentages?
• What is true about unlicensed agents under Colorado law?
• Which item is included within the permissible premium charged for a policy of title insurance?
• The refusal of a company's agent to submit to examination or to comply with any reasonable written request shall be a:
• Who is the lender in a mortgage agreement that secures the loan with property?
• A title commitment consists of which three components?
• A notice of pendency for a mechanic's lien action must be recorded within how many months from the lien recording date?
• The Insurance Commissioner is appointed by which entity and confirmed by which body?
• What funds cannot be commingled?
• In a case where a deed dated February 1, 1977 was recorded in March 10, 1977, and a later San Francisco quitclaim deed was recorded three days after, which statement is true?
• What year was LTG created and grandfathered in?
• Final Action by the Commissioner is subject to which type of review?
• An evidence of title that assures the insured land abuts upon a physically open street is characteristic of
• In any Colorado county other than Denver, filing of a petition in bankruptcy will not constitute constructive notice unless there is recorded what?
• In the context of Owner's Title Policy, which statement is true?
• The page that states the owner's policy type being issued is Schedule A & Fee Page. Which option lists that phrase?
• The following recital would be most appropriately included in which title insurance policy? 'This policy does not insure against loss or damage by reason of the refusal of any person to purchase, lease, or lend money on the property, estate, or interest described in Schedule A.'
• For the tax assessment lien to be valid against a purchaser located in Larimer County, where must a notice be filed?
• For insurance purposes, title acquired by adverse possession will never be marketable unless
• Which policy form is typically used for construction loan financing?
• Which of the following activities is NOT PROHIBITED?
• Who legally acts as the representative of a title insurance company?
• An evidence of title that ensures the foundation of a building on land is within the land's boundaries is most appropriately contained in:
• What document must title insurance companies obtain to transact business in the state?
• Rates are effective for how long once filed?
• What must a title company do before earning interest in their escrow account?
• The Insurance Commissioner is the head of which unit within the regulatory structure?
• What is the penalty for an insurance agent who procures payment by fraudulent representations?
• When must the Commissioner be notified after a change of address by an individual licensee or agency licensee?
• Which of the following are deeds of conveyance? (May be one or more answers)
• Which statement best describes a Quit Claim Deed?
• Which statement describes a required element when recording a conveyance of Colorado real property?
• Which of the following events would require notification within 30 days due to fiduciary funds?
• A charitable donation by a title entity must be made directly to the charitable organization. This statement is:
• Which activity is not prohibited for an insurance licensee?
• A certificate of taxes due should be obtained from which source?
• Which part indicates the type of owner's policy being issued?
• Under the current commitment form, the obligation is not intended to replace either the ALTA Owner's Policy or the ALTA Lender's Policy. Which statement best reflects this?
• Which legal concept extinguishes an easement when it is not used for a statutory period?
• Which statement is NOT included in a Settlement Producer's scope?
• The Insurance Commissioner disseminates general information concerning which topic to the public?
• Which document would be used to transfer property with covenants of title?
• What is the curative statute of a mechanic's lien?
• Which items are included within the permissible premium charged for a title insurance policy?
• In which form of concurrent ownership is the right of survivorship a defining feature?
• Which term describes money paid to influence decisions or actions in real estate transactions?
• Which of the following is NOT a proper element in establishing a right to title by adverse possession?
• In an affiliated business arrangement, compensation to the agent who refers business is allowed only in what form?
• Subrogation is defined as what?
• Paying agents to fly to a golf destination would be an example of which concept?
• What is the document called that commits to issue a title insurance policy?
• In affiliated business arrangements, payments to the referring party must be disclosed on the closing statements.
• Which statement best describes the curative statute period for a mechanic's lien?
• In practice, who typically makes the initial request to obtain an agent's license?
• Where on the title commitment would you find the listed title requirements?
• Who is the party that holds the lien on the property until the loan is repaid?
• The recital 'payment to or for the account of the mortgagor of the full consideration for the estate or interest or mortgage to be insured' is most appropriately adapted for use in a
• Which individuals associated with a title insurance company are required to be licensed as an insurance agent?
• The prevailing rate schedule adopted by the Colorado Title Insurance Rating Bureau is designed to establish which of the following?
• The act of insuring, guaranteeing, or indemnifying an owner of real property against loss or damage due to liens and encumbrances, defects in, or unmarketability of title is called what?
• Is a death certificate for a deceased joint tenant required to complete the chain of title?
• Which term describes a modification to a title policy that is specifically filed?
• Which policy type is typically issued to protect a lender's interest in real property?
• Under CRS 38-35-106 Acknowledgement (Defective) the valid years are?
• The warehouse can be sold separately from the land and removed therefrom to satisfy liens.
• Which of the following statements about the 30-day notification requirement for title insurers is correct?
• Who confirms the appointment of the Insurance Commissioner?
• The failure of a corporation to file or record in every county evidence of its powers results in what legal effect?
• What is the minimum age of requirement to hold a Title Insurance Producer License in Colorado?
• Which Uniform Acts have been adopted for use in Colorado?
• Who is responsible for the acts of its authorized agents in title commitments for residential property sales?
• The transfer of title to water rights is governed by which set of requirements?
• The Insurance Commissioner supervises which area of the insurance regulation?
• Which statement best explains the purpose of licensing insurance agents?
• Endorsements may be used only after what condition is met?
• The State of Colorado instituted litigation to acquire title to a portion of real property. What is the nature of this action generally called?
• Where on the title commitment may you find the underwriter's name?
• Under the documentary transfer tax rules, which statement is true?
• Which statement about Colorado foreclosure is true?
• What may be ordered to be paid from an insurance producer?
• Which form of title evidence provides protection from loss due to the superior priority of a statutory lien for labor or materials?
• The Bureau's duties include which actions regarding rules for the administration of the title insurance business?
• In title insurance, the definition of land includes which of the following?
• Which statement about temporary licenses issued to agents by the Commissioner of Insurance is correct?
• Which of the following is not an attribute of an insurance producer's license?
• The Insurance Commissioner conducts which exams at least once every five years?
• Which statement about the consumer disclosure regarding interest earnings is true?
• Which statement correctly identifies a type of title insurer by its origin?
• One duty of the Colorado Title Insurance Rating Bureau is to analyze the cost of doing business and determine what?
• Which statement about title insurance rates and regulation is true?
• Which statement about agency authority in title insurance is true?
• In which conveyance was a valid joint tenancy not created?
• Who normally initiates the process to obtain an agent's license?
• During the loan process, the entity that provides funds to the borrower is called the?
• Which endorsement is designated as PNTI 300 Endorsement?
• A title company formed in a state other than Colorado is an example of:
• Where on the title commitment would you find the insurer's liability to the lender listed?
• A UCC-1 financing statement is part of which regulatory framework?
• Pursuant to the current form of commitment for title insurance, the obligation of the issuing company is:
• Which method extinguishes an easement by a court action that resolves title against the easement holder?
• Which statement about rate changes timing is true?
• Current title insurance policies indemnify against loss caused by which of the following defects, liens, encumbrances, or adverse claims?
• Which document is typically recorded in land records, based on standard practice?
• Which of the following can transfer property?
• A Title Insurance License allows one to write:
• Which schedule in the title commitment contains CC&Rs, for quick reference?
• A general federal tax lien against an owner of real property is valid as a secret lien against which persons?
• What is meant by 'Lots 1 to 6 inclusive'?
• What is the maximum monetary loss or damage a title insurer is liable for under a policy (including costs, attorney's fees, and expenses)?
• What is the best definition of a marketable title?
• Insurance against loss the insured may sustain by reason of any incorrectness in the assurance the company gives that, except as shown in Schedule B, there are no present violations on said land of any enforceable covenants, conditions, or restrictions, is afforded in which form of evidence of title?
• The Colorado Title Insurance Rating Bureau serves as a ______ ______ agency to the Insurance Commissioner concerning title insurance matters.
• In a priority dispute between a deed recorded in one county and a later deed recorded elsewhere, which statement is true?
• The Commissioner reviews annual what filed by insurance companies?
• Under CRS 31-15-401 (c) City Liens (cannot be foreclosed out) term is?
• What is remuneration?
• Which form of evidence of title is an endorsement to ALTA lender's policy?
• No title insurance commitment or endorsement is authorized for use unless which condition is met?
• Which statement best describes title insurance?
• The Colorado Title Insurance Rating Bureau is which type of organization?
• Under Regulation 8-1-3, within how many calendar days must the final title policy be issued after closing?
• In an Owner and Encumbrance Report, which item identifies the last recorded owner?
• Which form of evidence of title does not insure against unmarketability of title?
• Included within the permissible premium charged for a policy of title insurance are the following?
• Which document is not a document that will be recorded in the land records?
• In Colorado, an instrument affecting title to real property that is recorded without proper acknowledgment imputes notice to all persons after what event?
• An unlicensed agent is guilty of a misdemeanor and upon conviction is subject to both a fine and/or imprisonment. Which option best describes this penalty?
• How many sections are in a township?
• Which description best describes a Colorado condominium?
• A person who is not a licensed agent of an insurance company, but who negotiates contracts for title insurance, is called:
• To hold a title insurance company liable for the acts of one of its agents, which statement is true?
• Which term completes the phrase 'suspend, ________, or refuse to issue' in the Commissioner’s authority?
• Which form of concurrent ownership allows a deceased co-owner's interest to pass to their estate?
• The State Exam refers to CCRs listed in Schedule B2 as what type of exception?
• Which method extinguishes an easement by abandonment of non-use?
• Which of the following is included in title insurance rates under Colorado law?
• What is the statute of limitations for deeds of trust with a due date?
• Which of the following items is included in the permissible premium described?
• What is the typical result of divorce on joint tenancy?
• In a warranty deed, who is the recipient of the title?
• Which of the following is NOT a community easement?
• Which of the following best describes the description 'N1/2 of Section 18, Township 4 South, Range 67 West'?
• In the context of a mortgage, which party is the lender who supplies funds?
• In a mortgage transaction, which party provides financing for the purchase?
• Where on the title commitment would you find the title defects?
• The practice of giving a commission or other valuable thing by a title insurer or by its agent to an owner or to a mortgagee, or to any agent, representative, attorney, or employee of them, is:
• In a Lot and Block Description, which element identifies the subdivided area?
• Under Colorado law, a foreign title insurance company may write insurance policies only if...
• What does the prevailing title industry rate schedule establish?
• Which instrument is used to transfer title to real property?
• Which statement best reflects the effect of unpaid inheritance taxes under state law?
• Which item would be included in a Lot and Block Description?
• Which action is used to take private property for public use?
• Under a lender's policy, the insurer's liability ends when the insured's interest ceases.
• Regarding title insurance, when a claim is paid, which statement is normally true?
• In Colorado, if a wife signs a conveyance as attorney-in-fact for her husband who jointly owns the property, which statement is true?
• Tenants in Common: If a deed does not specify a tenancy and there are two or more grantees, which tenancy is presumed by law?
• Which combination describes the points necessary for a good metes and bounds legal description?
• Where on the title commitment would you locate the legal description?
• The state instituted litigation for acquiring title to a portion of real property; what is this action commonly referred to as?
• Which statement best describes the probate proceedings allowed under the Uniform Probate Code in Colorado?
• A fee to wire proceeds funds would be considered what kind of fee?
• Which statement best describes a joint tenancy?
• Which party is the lender who funds the purchase in a mortgage transaction?
• O&E stands for which of the following in title terminology?
• Which of the following is a characteristic of joint tenancy?
• The 15-year term for deeds of trust is measured from which date?
• For a standard violation of insurance law, what is the maximum penalty per violation?
• Which item is required to record a conveyance of Colorado property?
• In Colorado, a title insurance company cannot participate in the co-ownership and management of a title plant.
• Which instrument is used to transfer ownership (vesting) of real property?
• Easements may be extinguished by: express release, such as executing a quit claim deed. This statement describes which method?
• An insurance producer is entitled to notice and a hearing prior to enforcement.
• In a scenario where an acknowledgment of a deed of trust was made by a notary public in one county while the deed is recorded in another, which statement is true?
• Which statement is untrue?
• Which policy type would typically protect an owner's interest in real property?
• Which document contains the recital "payment to or for the account of the mortgagor of the full consideration for the estate or interest or mortgage to be insured"?
• Easements may be extinguished by: dominant/servient tenement owned by the same person. This describes which method?
• Which action is required when there is a change in address for an individual or agency insurance producer licensee?
• In how many business days must a title entity responsible for closing record the documents?
• Which of the following disclosures may appear on a residential title commitment?
• If a corporation fails to file or record evidence of its powers with respect to real property in Colorado, what result occurs?
• Which item is NOT required to be disclosed to the Insurance Commissioner regarding affiliated business arrangements?
• Which statement about title insurance indemnification is correct?
• Who is the grantee in a warranty deed?
• Which statements are characteristic of a lender's policy? (Choose one or all that apply)
• Which statement about the Colorado Insurance Commissioner is false?
• In a loan secured by property, who has the security interest in the property?
• On a title commitment, where are the CC&Rs located?
• Which of the following forms of evidence of title does not insure against unmarketability of title?
• In which U.S. District Court office in Colorado may there be filed and kept the original records of a bankruptcy proceeding?
• In ALTA/LTAC forms approved for use by title insurers, a real property security instrument identified on its face as a deed of trust is defined as what?
• Which statement correctly completes this sentence: The obligation of the issuing company under the current commitment is not intended to be in lieu of either policy?
• What is the simplest method for vesting of a marketable title after John's death in a joint tenancy with Jane?
• Does a vesting deed need to reflect joint tenancy?
• What type of penalty is imposed for violation of insurance law?
• Which statement best describes the role of a person who negotiates title insurance contracts but is not a licensed agent of an insurance company?
• For intentional violations, what is the total cap on penalties?
• What type of penalty may be assessed?
• Who normally requests the agent's license?
• Which statement BEST describes a Settlement Producer?
• Which lien is filed with the Secretary of State?
• Which of the following defects, liens, encumbrances, or adverse claims do current title insurance policies indemnify against?
• A UCC-1 financing statement is filed with which office?
• A mechanic's lien must be filed for record within how many days after completion?
• In most real estate loans, which party is the creditor providing loan funds?
• Which proposed name would comply with state law for the partnership name change to emphasize title insurance?
• What is the curative statute of a deed of trust that has no majority date listed?
• An affiliated business arrangement that creates a title entity is required to do what?
• Which item is most appropriately described as Endorsement to a Policy?
• Which schedule contains CC&Rs, in the context of title commitments?
• Which option describes the penalty for an unlicensed agent acting as the representative of a title insurance company?
• A title search and examination must involve which two elements?
• In a secured real estate loan, which party holds the security interest in the property?
• When a seller holds title in a leasehold interest, which of the following is true?
• Which form of evidences of title contains no printed exceptions in Schedule B?
• For a typewritten Last Will and Testament of a person over 18 who is a resident of Colorado, which requirement is necessary?
• In a title commitment, the notification of gap coverage should be presented in what manner?
• Easements may be extinguished by: title decree against easement holder. This describes which method?
• The solicitation, negotiation, and execution of an insurance contract is a definition of which term?
• A title insurance company is prohibited from...
• Rates would be considered excessive if which condition existed?
• Which is a special lien?
• A record owner conveyed 'THE N1/2 OF SECTION 18, TOWNSHIP 4 SOUTH, RANGE 67 WEST'. Which additional interests were transferred?
• Which activity is NOT prohibited, according to the policy described?
• Which of the following correctly describes a lot and a portion of a lot?
• Which statement about the authority of a notary public in Colorado is true?
• The Insurance Commissioner adopts rules to ensure which two characteristics of the insurance marketplace?
• Which term describes insuring, guaranteeing, or indemnifying an owner of real property against loss due to liens or defects in title?
• Which statement best describes a title commitment?
• In a scenario where an unmarried record owner executed a deed to San Francisco and later a quit claim deed to the same property is recorded in Douglas County, which statement is true?
• What is another name for a lender in the loan process?
• A broad power of attorney clause states 'to do and perform all and every act and thing what he could do with respect to any of my property'. Regarding title transfers, which statement is most accurate?
• You are approached by a real estate agent to supply business cards to them without charge. This is an example of what?
• When a seller holds title in a leasehold interest, which statements are true?
• In Colorado, claims against a decedent are subject to a curative statute of how many years?
• Which term is used to identify the lender in a real estate financing agreement?
• Which of the following is NOT an attribute of an insurance producer's license?
• Which term best describes insuring against liens and defects in title?
• The rates charged for title insurance are regulated by:
• In a tenancy in common, what happens to the interest of a deceased co-tenant?
• Under the Uniform Probate Code, the administration of the estate of a Colorado resident who died owning fee title to Colorado real property may be which proceedings?
• What is required on the deed to create a valid joint tenancy?
• O&E stands for Ownership and Encumbrance Reports. Which is a correct expansion?
• Which option best completes the sentence: An evidence of title is most appropriately described as what?
• Which document is used to outline the terms under which title insurance will be issued?
• Which estates are not subject to all the rights normally attributed to real property?
• For title insurance purposes, reference to the Articles of Incorporation indicates what?
• Certificates of Authority to title insurance companies permit them to transact insurance business in which contexts?
• Which recital should owners and lenders always expect to be excluded from coverage in their title insurance policies?
• Who issues agents' licenses to represent a nationwide business conducting business in Colorado?
• Deeds of Trust with no due date have a term of how many years from date of recording?
• Not all disclosures are required on every title commitment issued for the sale of residential real property. Which statement describes this general principle?
• What is the role of the Colorado Title Insurance Rating Bureau as it relates to rate schedules?
• Which policy type is specifically designed for construction loans?
• In a tenancy in common, which statement is true about ownership?
• Which disclosure is not required on every title commitment issued for the sale of residential real property?
• This is an example of what when a real estate agent asks for business cards without a charge?
• Which statement is true about the definition of land in title insurance?
• A typed last will and testament of a person over the age of 18 years and a resident of Colorado is required to be subscribed to by at least how many witnesses?
• What is the legal process of transferring property upon the death of a sole owner?
• Through the NAIC, state regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. This describes the NAIC's role as which of the following?
• Which statement describes the survivorship principle in joint tenancy?
• To vest the estate after death in joint tenancy, which document is commonly recorded?
• To record a conveyance of Colorado real property, which is required?
• The Commissioner conducts examinations and what other enforcement activity?
• To be valid against a purchaser of personal property in Larimer County, where must a notice of tax delinquency be filed?
• For intentional violations, what is the penalty per violation?
• Which items are identified by an Ownership and Encumbrance Report (O&E)?
• Upon death of a resident, title to real property in the state is subject to which of the following?
• Which statement is true regarding bankruptcy?
• Which of the following is an encumbrance on title rather than a lien on title?
• In each of the following deeds, which grantee is properly identified as a person acting in a representative capacity?
• The title commitment is formed in connection with an application for title insurance and includes a report, an application, and a statement.
• What does the acronym O&E stand for in title practice?
• How long after a title insurance company files a new rate before it takes effect?
• A title entity issuing a policy is required to preserve and maintain a copy for how long from recording the deed?
• What is the meaning of 'Lots 1, 2, 3, 4, 5, AND 6'?
• If an instrument affecting title is recorded without proper acknowledgement, what is its effect on notice?
• Which term designates the lender in a mortgage agreement?
• The National Association of Insurance Commissioners (NAIC) is created and governed by whom?
• What phrase best describes a marketable title?
• What effect does a divorce decree have on a joint tenancy?
• What is the penalty described for a title insurer using an unapproved policy?
• Which policy is typically issued to lenders to insure their security interest?
• The Insurance Commissioner conducts which type of exams as often as the Commissioner deems appropriate?
• In real estate finance, which role receives the property as collateral?
• The person who investigates or adjusts losses arising under insurance policies on behalf of the insurer or the insured is called?
• The process used to transfer property after the death of a sole owner
• What is the penalty for an insurance company using a policy that has not been approved?
• Which action would require notification to the Division within 30 days due to fiduciary funds?
• In the metes and bounds description, which element must be located?
• If title is held as Angela & Bob 50% as joint tenants, Chuck 25%, and David 25%, and Chuck dies, Angela holds what percent?
• Which rate is the judgment rate of interest?
• A title insurer would be considered foreign if it is formed in which jurisdiction?
• Which statement best describes the distinction between a commitment for title insurance and a policy of title insurance?
• Which statement about homestead is false?
• Which item is NOT typically identified in an Ownership and Encumbrance Report (O&E)?
• Which of the following is a standard form of evidence of title?
• Which statement is NOT true regarding controlled business means?
• An instrument affecting the title to real property recorded without being acknowledged imputes notice to all persons and is deemed to have been properly acknowledged upon expiration of how many years from the date of execution?
• The Commissioner examines all requests and which other form for licenses?
• Which individuals associated with a title insurance company is required to be licensed as an insurance agent?
• Which document identifies CC&Rs within a title commitment?
• A temporary agent's license is issued to an applicant. Which of the following is true?
• The recital about lack of priority of the lien of the insured mortgage because the loan proceeds may not have been fully disbursed at the date of policy is most appropriately included in which ALTA policy?
• Under Colorado law, which item is included in title insurance rates?
• Which following activity is not prohibited?
• Pursuant to the current form of commitment for title insurance, the obligation under it is not intended to be in lieu of which of the following?
• Which document below is recorded in the land of records?
• In a real estate loan, who receives the property as collateral to secure repayment?
• A title insurance company formed in a state other than Colorado is an example of what type of title insurer?
• Which statement best describes condominium ownership?
• Which statement is correct about the components of a permissible title insurance premium?
• Under the Colorado documentary transfer tax, which statement is true?
• Which statement best describes a foreign title insurance company?
• Under the state inheritance and succession tax statutes, which statement is true?
• The Colorado Title Insurance Rating Bureau is a non-profit Colorado corporation organized on behalf of which group?
• Which statement best describes a good metes and bounds description?
• Which statement is NOT TRUE?
• Who normally requests a title insurance agent's license?
• Pursuant to the form of commitment for title insurance in current use, the obligation there under is not intended to be in lieu of which of the following?
• Which statement about temporary licenses is true?
• What is the total cap on penalties for standard violations?
• What is the penalty applicable to an insurance company using a policy that has not been approved?
• A Colorado statute requires the street address on all conveyances of real property where the property has a street address. What is the consequence of failing to include the street address?
• Which statement is true about redemption after foreclosure?
• When issuing an Owner's Policy, the schedule of title insurance rates applies to the fair value of the property insured, which is which?
• A title insurance company and title insurance agent may not use a rate unless which condition is met?
• What is the approved manner in which a title insurer is supposed to write over, or insure through, record encumbrances or defects in title?
• A charitable donation may be made by a title entity if:
• A person's interest in the property is limited for a specific period of time. This describes which type of property interest?
• Easements may be extinguished by: abandonment (non-use) use. This describes which method?