California Real Estate Escrow and Title, Second Edition

b$.$ provide real estate agents with fees or gifts, unless it is handled by the marketing department of the escrow company.

c$.$ pay money for referrals, but the agent may provide free gifts $($with a value of $$50$ or more$)$ to real estate agents.

d$.$ provide food at a real estate agent's open houses.

$25.$

As the title insurance and escrow business evolved in California, escrow services were mostly provided by

a$.$ title insurance companies in northern California and independent escrow companies in southern California.

b$.$ lawyers.

c$.$ banks.

d$.$ escrow companies throughout the state.

$26.$

Real estate brokers in California are exempt from the licensing requirements for escrow agents so long as

a$.$ the broker is either an agent or a principal in the transaction.

b$.$ the broker is an agent in the transaction.

c$.$ the broker is a principal in the transaction.

d$.$ the broker has taken a course in escrows.

$27.$

Under California law, the escrow holder may not act as

a$.$ the party responsible for resolving tax liens.

b$.$ an arbitrator.

c$.$ an agent with discretionary authority to act for the principals.

d$.$ any of these.

$28.$

Advance information on matters that will be "excepted," or excluded, from title insurance coverage is provided in the

a$.$ property profile.

b$.$ preliminary profile.

c$.$ property report.

d$.$ preliminary report.

$2020$ Kaplan, Inc.