PSI Virginia Real Estate Practice Exam

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Get ready for the PSI Virginia Real Estate Exam. Use multiple choice quizzes with hints and explanations to boost your confidence. Ace your exam!

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What is typically included in the certification by the abstractor in a title abstract?

A financial overview of the property
A statement that the history is complete and accurate
Future predictions of property value
An estimate of property taxes

The correct answer is: A statement that the history is complete and accurate

The correct choice recognizes that a title abstractor is responsible for researching and compiling the history of a property's title. This includes reviewing public records to ensure that all legal documents, liens, and ownership transfers are accurately represented. The statement confirming that the history is complete and accurate serves as assurance to potential buyers, lenders, or other stakeholders that the information in the abstract has been carefully verified. This certification is crucial because it helps establish clear ownership and highlights any potential issues that could affect the title. Without such a statement, users of the title abstract would lack confidence in its reliability. The other options are not typically included in a title abstract. A financial overview or future property value predictions are not within the scope of the abstractor's duties. Estimates of property taxes are also separate from the title history and would rely on different sources of information, making these options less applicable in the context of a title abstract.