What must notaries ensure regarding a signer’s competency during a notarization?

Notaries are responsible for determining the competency of a signer, which fundamentally involves ensuring that the signer understands the nature of the transaction and its consequences. This aspect is crucial, as it ensures that the signer is making an informed decision, free from coercion or misunderstanding. A competent signer should comprehend not only what they are signing but also the legal implications of their actions.

This requirement is in line with the ethical responsibilities of notaries, who serve as impartial witnesses to the signing of documents. It helps protect the integrity of the notarization process and minimizes the risk of fraud or disputes that may arise from a lack of understanding. Therefore, verifying that the signer understands the transaction's consequences is essential in the notarial process, making it the correct choice.

The other options, while they might seem relevant to the notarial process, do not directly pertain to the assessment of a signer's competency in understanding the document they are signing.