Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Title insurance is generally categorized as what?

Has standardized coverage throughout the province
Is not permitted by law to insure over minor encroachments
Is typically categorized as either loan policies or owner policies
Eliminates the need for a survey

The correct answer is: Is typically categorized as either loan policies or owner policies

Title insurance is typically categorized as either loan policies or owner policies. This categorization is accurate because title insurance policies can indeed be categorized into these two main types. Loan policies protect the lender's interest in the property's title, while owner policies protect the buyer's or owner's interest in the property's title. This distinction helps ensure that the concerns and interests of both parties involved in a real estate transaction are appropriately addressed and protected by the title insurance policy.