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

SectionObjectives
Title Insurance Principles- Title Insurance Policies
  • 1. Covered risks and exclusions
    • 2. Owner vs lender policies
      - Title Search and Examination
      • 1. Chain of title
        • 2. Public records and title defects
          Real Estate and Settlement Procedures- Closing Process
          • 1. Escrow handling
            • 2. Settlement statements (HUD-1 / Closing Disclosure)
              - Legal Concepts
              • 1. Deeds and conveyancing
                • 2. Liens and encumbrances
                  Insurance Industry Overview- Regulatory Framework
                  • 1. Licensing requirements and compliance
                    • 2. State insurance regulations (Pennsylvania)
                      - Fundamentals of Insurance Principles
                      • 1. Insurance contract basics
                        • 2. Risk concepts and types of risk
                          Ethics and Professional Conduct- Fiduciary Responsibilities
                          • 1. Duties of insurance producers
                            • 2. Consumer protection standards

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

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

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


                              2. A statement included on a title commitment such as "record warranty deed from the owner shown in Schedule A vesting title in the proposed insured" is an example of a

                              A) condition.
                              B) requirement.
                              C) post policy event.
                              D) standard exception.


                              3. When a land owner uses his land as security for a loan, the encumbrance created is called

                              A) a promissory note.
                              B) a mortgage.
                              C) a special security.
                              D) an involuntary lien.


                              4. Which section of a title insurance policy lists the rights of the insurer?

                              A) conditions
                              B) exclusions from coverage
                              C) declarations
                              D) insuring agreement


                              5. A leasehold interest in real property ownership is

                              A) a non insurable interest.
                              B) an insurable interest.
                              C) an usury interest.
                              D) a lien interest.


                              Solutions:

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

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