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

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

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

                              1. Which of the following items is least likely to be recorded?

                              A) mechanic's lien
                              B) satisfaction of mortgage
                              C) bill of sale
                              D) mortgage lien


                              2. Which of the following types of deeds provides the purchaser of real estate the greatest protection?

                              A) deed in trust
                              B) trustee's deed
                              C) quitclaim deed
                              D) general warranty deed


                              3. A real estate interest that passes at death by operation of law to the surviving title holder is known as

                              A) tenancy in common.
                              B) fee simple estate.
                              C) real estate contract interest.
                              D) joint tenancy.


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

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


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

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


                              Solutions:

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

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