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Insurance Licensing PA-Title-Insurance-Agent Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Title Insurance Principles- Policy structure
  • 1. Conditions and stipulations
    • 2. Endorsements
      • 3. Schedule A
        • 4. Schedule B exceptions
          • 5. Insuring provisions
            • 6. Exclusions
              - Insurable interests
              • 1. Easements
                • 2. Fee simple estate
                  • 3. Leasehold estate
                    • 4. Life estate
                      - Title insurance policies
                      • 1. Leasehold policy
                        • 2. Loan policy
                          • 3. Enhanced policies
                            • 4. Owner's policy
                              • 5. Commitments
                                - Risks covered by title insurance
                                • 1. Hidden off-record risks
                                  • 2. Errors in public records
                                    • 3. Errors by producer
                                      - Title search techniques
                                      • 1. Hard copy index
                                        • 2. Computer index
                                          • 3. Chain sheet
                                            Topic 2: Title Exceptions and Procedures for Clearing Title21%- Liens and encumbrances
                                            • 1. Judgments
                                              • 2. Involuntary liens
                                                • 3. Taxes and assessments
                                                  • 4. Voluntary liens
                                                    • 5. Federal liens
                                                      - Property-related issues
                                                      • 1. Surveys
                                                        • 2. Attachments
                                                          • 3. Mineral rights
                                                            • 4. Equitable interests
                                                              • 5. Condominiums
                                                                • 6. Water rights
                                                                  - General exceptions
                                                                  Topic 3: Insurance Regulation12%- Producer regulation
                                                                  • 1. Prohibited acts
                                                                    • 2. Record keeping
                                                                      • 3. Charges for extra services
                                                                        • 4. Unfair inducements and marketing practices
                                                                          - Unfair trade practices
                                                                          • 1. Rebates and inducements
                                                                            • 2. Unfair discrimination
                                                                              • 3. Twisting
                                                                                • 4. Defamation
                                                                                  • 5. Misrepresentation
                                                                                    • 6. False advertising
                                                                                      • 7. Boycott, coercion or intimidation
                                                                                        - Title insurance law requirements
                                                                                        • 1. Examination of title required
                                                                                          - Company regulation
                                                                                          • 1. Unfair claims settlement practices
                                                                                            • 2. Rates regulation
                                                                                              • 3. Solvency requirements
                                                                                                - State regulation
                                                                                                • 1. Commissioner's general duties and powers
                                                                                                  - Licensing
                                                                                                  • 1. Address change
                                                                                                    • 2. Continuing education
                                                                                                      • 3. Persons to be licensed
                                                                                                        • 4. Renewal
                                                                                                          • 5. Title producer additional requirements
                                                                                                            • 6. Maintenance and duration
                                                                                                              • 7. Expiration
                                                                                                                • 8. Assumed names
                                                                                                                  • 9. Appointment procedures
                                                                                                                    • 10. Disciplinary actions
                                                                                                                      • 11. General requirements
                                                                                                                        • 12. Cease and desist orders
                                                                                                                          • 13. Licensing process
                                                                                                                            • 14. Reporting of actions
                                                                                                                              • 15. Revocation, suspension, nonrenewal or denial of license
                                                                                                                                - Federal regulation
                                                                                                                                • 1. Fair Credit Reporting Act
                                                                                                                                  • 2. Fraud and false statements (18 USC 1033/1034)
                                                                                                                                    Topic 4: General Insurance Concepts3%

                                                                                                                                    Insurance Licensing Pennsylvania Producers Examination for Title Insurance Series 16-10 Sample Questions:

                                                                                                                                    The MAIN purpose of insurance is to

                                                                                                                                    • A. retain risk.
                                                                                                                                    • B. reduce risk.
                                                                                                                                    • C. transfer risk.
                                                                                                                                    • D. alter risk.
                                                                                                                                    Reveal Solution  Discussion  0

                                                                                                                                    Correct Answer: C  🗳️

                                                                                                                                    Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

                                                                                                                                    Which of the following is considered a voluntary lien?

                                                                                                                                    • A. State tax lien.
                                                                                                                                    • B. Construction lien.
                                                                                                                                    • C. Real estate tax lien.
                                                                                                                                    • D. Mortgage lien.
                                                                                                                                    Reveal Solution  Discussion  0

                                                                                                                                    Correct Answer: D  🗳️

                                                                                                                                    Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

                                                                                                                                    When insuring a mortgage where there are intervening liens that prevent the lender from holding first lien priority, such other liens may be

                                                                                                                                    • A. subordinated to the lien of the subject mortgage.
                                                                                                                                    • B. waived to the lien of the subject mortgage.
                                                                                                                                    • C. restricted to the lien of the subject mortgage.
                                                                                                                                    • D. subrogated to the lien of the insured mortgage.
                                                                                                                                    Reveal Solution  Discussion  0

                                                                                                                                    Correct Answer: A  🗳️

                                                                                                                                    Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

                                                                                                                                    To satisfy a mortgage of record, which of the following must be filed?

                                                                                                                                    • A. a payoff statement
                                                                                                                                    • B. a mortgage satisfaction
                                                                                                                                    • C. a certified copy of original mortgage
                                                                                                                                    • D. an original note
                                                                                                                                    Reveal Solution  Discussion  0

                                                                                                                                    Correct Answer: B  🗳️

                                                                                                                                    Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

                                                                                                                                    An acknowledgment

                                                                                                                                    • A. is an authorization to convey property.
                                                                                                                                    • B. states that a deed contains verified information.
                                                                                                                                    • C. provides evidence that a signature is genuine.
                                                                                                                                    • D. is a signature on a deed.
                                                                                                                                    Reveal Solution  Discussion  0

                                                                                                                                    Correct Answer: C  🗳️

                                                                                                                                    Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).

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