7.Which of the following statements about lenders title insurance is correct?

a. It is required by the lender to obtain a mortgage.

b. Banks pay for it because they benefit from it.

c. It is typically limited to three past transactions.

d. All easements show up during a title search.

QUESTION 8

Direct Market extraction is the process by which

a. 4 comparables are used to determine the CAP rate of a specific type of real estate in a city using NOI/Sales Price

b. 3 comparables are used to determine the CAP rate of real estate in a region using Sales Price/NOI

c. 5 comparables are used to determine the CAP rate of a specific segment of real estate in similar area using year 1 NOI/Sales Price

d. 3 comparables are used to determine the CAP rate of a specific type of real estate asset in a city using Sales Price/NOI in year 1