Title Insurance

KNOWLEDGE EXPECTED OF: Both CFP^® Professionals and QAFP^TM Professionals

Define title.
Identify types of coverage that title insurance may provide,¹ such as:
- Unknown title defects
- Existing liens against the property’s title
- Encroachment issues
- Title fraud
- Errors in surveys and public records
Explain the purpose of each type of title insurance coverage.
Explain benefits of title insurance.¹
Define types of title insurance.¹
- Residential owner’s policy
- Residential existing owner’s policy
- Residential lender’s policy

Glossary of Verbs (mouse over to see definition)

Define

To state exactly the meaning of

Identify

To be aware of / to recognize and correctly name / to locate an appropriate resource

Explain

To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it

Compare

To note the similarities and differences between two or more things

Estimate

To determine an approximate value for

Calculate

To find the value using mathematics

Convert

To change from one form or purpose to another

Evaluate

To reach a conclusion or make a judgement through careful study

Interpret

To give the meaning of / to construe or understand / to translate orally

Read more about the Taxonomy used in the FP-BoK