A Contract Agreeing to Indemnify the Insured Against Certain Specified

question 47

Multiple Choice

A contract agreeing to indemnify the insured against certain specified defects in title to real property is called:

• A) title insurance.
• B) a warranty deed.
• C) guarantee insurance.
• D) a real estate guarantee.

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Definitions:

Welfare Banks

Financial institutions or programs that aim to support the economically disadvantaged segments of society, though it's not a widely used term and may refer to various initiatives in different contexts.

Check-Cashing Outlets

Financial service providers that offer clients the ability to cash checks for a fee without needing a bank account.

Pay a Fee

The act of making a payment for a service or the right to engage in a particular activity, typically set at a fixed rate by the service provider or regulating authority.

Fractional Reserve

A banking system in which banks hold reserves that are less than the amount of their customers' deposits, allowing them to lend out the majority of deposited funds.