On January 10, a contractor started work on a new house. The work was completed on October 10. The general contractor was paid but a subcontractor for the general contractor was not paid. On December 1 the subcontractor filed a mechanics lien. What is the effective date of the mechanics lien?

A seller has owner's title insurance. At closing if the buyer wants owner's title insurance, which of the following statements is correct?

A. The buyer can assume the seller's policy. B. The policy runs with the land and the buyer would not need a new policy. C. The buyer would have to take out a new owner's title insurance policy. D. The premium for a new owner's title insurance policy would cover a period of one year.

OTC-traded derivatives require delivery at maturity, but exchange-traded derivatives do not require delivery

Indicate whether the statement is true or false