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

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

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

                                                                                                                                    1. A state tax lien filed in the county where the taxpayer owns property is

                                                                                                                                    A) a lien that remains in force for a 3-year period.
                                                                                                                                    B) a lien against any property owned by the taxpayer in the county.
                                                                                                                                    C) only a lien against the property described in the lien.
                                                                                                                                    D) only a lien upon the sale of the property.


                                                                                                                                    2. A deed was properly completed and executed. Title to the property passed when the deed was

                                                                                                                                    A) accepted by the grantee.
                                                                                                                                    B) recorded.
                                                                                                                                    C) signed.
                                                                                                                                    D) acknowledged.


                                                                                                                                    3. Which of the following parties can file a claim under the provisions of a title policy?

                                                                                                                                    A) The taxing authority with jurisdiction over the insured property.
                                                                                                                                    B) The holder of an undisclosed interest in the insured property.
                                                                                                                                    C) The insured named under the policy.
                                                                                                                                    D) The holder of a judgment against the insured.


                                                                                                                                    4. The Real Estate Settlement Procedure Act (RESPA), Section 8 violation that refers to a person giving or accepting a fee or "thing of value" for the referral of business is known as a

                                                                                                                                    A) conversion.
                                                                                                                                    B) required use.
                                                                                                                                    C) kickback.
                                                                                                                                    D) bundled services.


                                                                                                                                    5. A manufactured home can be insured if

                                                                                                                                    A) it has a motor vehicle title and is located on the insured property.
                                                                                                                                    B) a mortgage has been filed describing the manufactured home.
                                                                                                                                    C) it is on the insured property and has a permanent foundation.
                                                                                                                                    D) the motor vehicle title has been deactivated, it is affixed and assessed as real property.


                                                                                                                                    Solutions:

                                                                                                                                    Question # 1
                                                                                                                                    Answer: B
                                                                                                                                    Question # 2
                                                                                                                                    Answer: A
                                                                                                                                    Question # 3
                                                                                                                                    Answer: C
                                                                                                                                    Question # 4
                                                                                                                                    Answer: C
                                                                                                                                    Question # 5
                                                                                                                                    Answer: D

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