147, not necessarily. In Hungary the title was awarded for outstanding scholarship. In ‘Guardian of Jerusalem’ it says that Rav Yosef Chaim Sonnenfeld’ was awarded the title of Chover at his aufruf. He was called up as Hachoson Hachover Harav Chaim ben … (as far as I remember. If anyone has the book to hand I would be happy to be corrected)
Joseph, the same as what stops any yodel entitling themselves Dr, Professor, Duke, Prince, etc etc. I.e. nothing but self respect.