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

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

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

                                                                                                                                    1. Karen has a life estate in the property. Upon her death, the property passes to

                                                                                                                                    A) the remainderman.
                                                                                                                                    B) her heirs.
                                                                                                                                    C) the previous owner.
                                                                                                                                    D) her spouse.


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


                                                                                                                                    3. When a mortgagee's title insurance policy is issued and no owner's policy will be issued, a written waiver must be signed by the:

                                                                                                                                    A) Title agent
                                                                                                                                    B) Seller
                                                                                                                                    C) Mortgagor
                                                                                                                                    D) Mortgagee


                                                                                                                                    4. A purchaser on a real estate contract has what interest in the subject property?

                                                                                                                                    A) vendee's interest
                                                                                                                                    B) equitable interest
                                                                                                                                    C) fee simple interest
                                                                                                                                    D) purchaser's interest


                                                                                                                                    5. An acknowledgment

                                                                                                                                    A) states that a deed contains verified information.
                                                                                                                                    B) provides evidence that a signature is genuine.
                                                                                                                                    C) is an authorization to convey property.
                                                                                                                                    D) is a signature on a deed.


                                                                                                                                    Solutions:

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

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