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

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

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

                                                                                                                                    1. An agent who collects money from an insured and holds it for payment to the insurer is

                                                                                                                                    A) acting in a fiduciary capacity.
                                                                                                                                    B) commingling funds.
                                                                                                                                    C) providing coverage.
                                                                                                                                    D) wrongfully withholding funds.


                                                                                                                                    2. Which of the following is the broadest form of ownership allowed by law?

                                                                                                                                    A) easement estate
                                                                                                                                    B) life estate
                                                                                                                                    C) fee simple
                                                                                                                                    D) leasehold


                                                                                                                                    3. What must accompany the satisfaction piece when presented for recording?

                                                                                                                                    A) The final receipt
                                                                                                                                    B) The payment record
                                                                                                                                    C) The certificate of title
                                                                                                                                    D) The original mortgage instrument


                                                                                                                                    4. A notarized deed ensures that the

                                                                                                                                    A) deed can be recorded.
                                                                                                                                    B) deed is legally binding.
                                                                                                                                    C) title is transferred.
                                                                                                                                    D) title is clear.


                                                                                                                                    5. What is the purpose of probate of an estate?

                                                                                                                                    A) to avoid inheritance tax
                                                                                                                                    B) to establish heirs
                                                                                                                                    C) to transfer a deceased's debts
                                                                                                                                    D) to foreclose a lien


                                                                                                                                    Solutions:

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

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