#1
Which of the following is a responsibility of a Loan Signing Agent?
Providing legal advice to clients
Verifying borrower identification
Negotiating loan terms
Processing loan applications
#2
What is the primary role of a Loan Signing Agent?
To approve loan applications
To facilitate the signing of loan documents
To process loan payments
To conduct property appraisals
#3
What is the primary responsibility of a Loan Signing Agent during a loan closing?
Verifying borrower's income
Providing legal advice to borrowers
Ensuring all loan documents are properly signed
Approving the loan application
#4
What is the purpose of a Loan Estimate document?
To provide instructions for the escrow process
To verify borrower identification
To disclose loan terms and estimated closing costs
To transfer ownership of real property
#5
What document is typically signed at a loan closing to transfer ownership of real property?
Promissory Note
Deed of Trust
Escrow Instructions
Closing Disclosure
#6
Which of the following is NOT a common document that a Loan Signing Agent may handle?
Power of Attorney
HUD-1 Settlement Statement
Mortgage Note
Vehicle Registration
#7
Which document outlines the terms and conditions of the loan?
Title Deed
Promissory Note
Warranty Deed
Grant Deed
#8
What is the role of a Loan Signing Agent in the loan closing process?
To determine loan eligibility
To witness the signing of loan documents
To provide financial advice to borrowers
To underwrite the loan
#9
Which document outlines the detailed terms of the loan, including interest rate and repayment schedule?
Deed of Trust
Promissory Note
Closing Disclosure
Title Deed
#10
What is the purpose of the Closing Disclosure document?
To itemize closing costs and loan terms
To transfer ownership of real property
To provide instructions for the escrow process
To verify borrower identification
#11
In the context of loan signings, what does 'POA' stand for?
Power of Assignment
Principle of Authorization
Power of Attorney
Promise of Agreement
#12
Which document outlines the breakdown of the loan costs and fees?
Mortgage Note
Deed of Trust
Closing Disclosure
HUD-1 Settlement Statement
#13
What is the purpose of a 'Signing Agent Journal'?
To record personal notes
To track loan signing appointments
To maintain a record of loan signings
To document loan application details
#14
What does APR stand for in the context of loans?
Annual Percentage Rate
Adjusted Payment Ratio
Asset Protection Regulation
Accumulated Payment Record