Notarial Procedures Flashcards

A signer presents a passport that expired 6 months ago as identification. What should the notary do?

Answer: Reject it and require a currently valid government-issued ID

Notaries must require currently valid, unexpired government-issued photo identification at the time of notarization.

When completing a jurat, the notary must ensure the signer:

Answer: Only swears or affirms the document's contents are true

A jurat requires the signer to swear or affirm under oath that the document's contents are true, in the notary's presence.

Which situation would require the notary to refuse to notarize a document?

Answer: The document contains blank spaces that have not been filled in

Notaries must refuse to notarize documents containing unfilled blank spaces, as blanks could later be filled with unauthorized content.

In a loan signing, the Right of Rescission gives borrowers how many business days to cancel a refinance transaction?

Answer: 3 business days

Federal law under TILA grants borrowers 3 business days to rescind a refinance loan on their primary residence.

A notary's journal entry should be completed:

Answer: At the time of notarization, not later

Journal entries should be made contemporaneously at the time of the notarial act to ensure accuracy.

Which document in a loan package describes the annual percentage rate, finance charge, and total payments over the life of the loan?

Answer: Truth in Lending Disclosure (TIL)

The Truth in Lending Disclosure (TIL) is a federal form that discloses the APR, finance charge, and total payment amounts to the borrower.

A credible witness may be used when a signer:

Answer: Lacks acceptable identification but is personally known to the notary or to two credible witnesses

A credible witness can vouch for a signer's identity when the signer lacks acceptable ID documents and is personally known to the witness.