#1
What is the role of a Notary Signing Agent?
To verify identities and witness the signing of documents
ExplanationVerify identities and oversee document signing.
#2
Which of the following is NOT typically included in a loan package?
Birth Certificate
ExplanationBirth Certificate is not usually part of a loan package.
#3
What is the role of the borrower's copy in a loan package?
To keep as a record of the loan terms
ExplanationServes as a record for the borrower of loan terms.
#4
Which of the following is NOT a common loan document?
Affidavit of Marriage
ExplanationAffidavit of Marriage is not a typical loan document.
#5
What is the purpose of a Notary Signing Agent's journal?
To record details of notarized transactions
ExplanationRecords details of notarized transactions.
#6
What is the purpose of a Loan Estimate (LE) document?
To provide an estimate of the closing costs and loan terms
ExplanationProvides an estimate of loan terms and closing costs.
#7
Which of the following is NOT a common form of acceptable identification for a Notary Signing Agent?
Library Card
ExplanationLibrary Card is not commonly accepted for identification.
#8
What is the purpose of the Signing Agent Certification Exam?
To fulfill legal requirements for becoming a Notary Signing Agent
ExplanationMeets legal requirements for becoming a Notary Signing Agent.
#9
What does the term 'FedEx drop shipment' refer to in the context of loan signings?
A package delivered directly to the lender's office
ExplanationDirect delivery of a package to the lender's office.
#10
What is the purpose of a 'bump package' in the loan signing process?
To provide additional loan documents that were not originally included
ExplanationIncludes additional loan documents not initially provided.
#11
What is the purpose of a Jurat?
To attest that the signer personally appeared before the Notary
ExplanationAttests signer's personal appearance before the Notary.
#12
What is the role of the Notary Signing Agent in the loan closing process?
To facilitate the signing of loan documents
ExplanationFacilitates signing of loan documents.
#13
What is the primary responsibility of a Notary Signing Agent regarding identification?
To verify the authenticity of identification documents
ExplanationAuthenticates identification documents.
#14
What is the primary role of a Notary Signing Agent in verifying identity?
To verify the authenticity of identification documents
ExplanationVerifies authenticity of identification documents.
#15
What is the primary responsibility of a Notary Signing Agent regarding document completeness?
To ensure all pages are present
ExplanationVerifies presence of all pages in documents.