Extended Coverage Title Policies Are Usually Requested By

question 22

Multiple Choice

Extended coverage title policies are usually requested by:

• A) institutional lenders
• B) private lenders
• C) buyers
• D) sellers

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Definitions:

Irrational

Describes a decision maker who chooses an option that leaves him or her worse off than choosing another available option.

Rational Decision

A decision-making process that is based on making choices that result in the optimal level of benefit or utility for the individual.

Economic Payoff

The return or financial gain from an investment or decision in the context of economics.

Sunk Costs

Costs that have already been incurred and cannot be recovered or refunded.