In a Title Insurance Policy, to Insure a First Priority

question 33

Multiple Choice

In a title insurance policy, to insure a first priority mortgage loan, if a prior mortgage is found in the title examination, it would be located in which schedule of the title commitment?

• A) Schedule B, Part 1
• B) Schedule B, Part 2
• C) Schedule A
• D) Schedule C

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Definitions:

Consumer

An individual or group who purchases goods or services for personal use and not for manufacture or resale.

Good 2

Refers to a second good or item considered in a theoretical economic model, usually in the context of comparative analyses.

Fixed Ratio

A quantitative relationship between two or more variables where one variable is a fixed multiple of the others, often used to describe proportional relationships in finance and engineering.

Excess Goods

Products that exceed the demand in the market, often leading to surplus and potential waste.