Test Drive/Lesson One—Escrow Overview

  Steps To Complete Each Lesson

Step 1 — Review the Important Terms below;

Step 2 — Study the Test Drive text;

Step 3 — Pass the Test Drive Quiz.

  Important Terms

  Learning Objectives

Upon completion of Lesson One, you should be able to:

•  Describe escrow;
•  Identify at least seven types of escrows;
•  List the requirements for escrow;
•  Define concurrent performance;
•  Describe the duties of an escrow officer;
•  Identify who will pay the escrow fee;
•  Outline a sample timetable for a typical escrow.

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