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

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

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

                                                                                                                                    Which property type includes all lands, man-made improvements, anything growing on the lands, as well as interests, or "rights," including future occupancy, reversion, and the use of surface and air space?

                                                                                                                                    • A. Personal
                                                                                                                                    • B. Tangible
                                                                                                                                    • C. Intangible
                                                                                                                                    • D. Real
                                                                                                                                    Answer: D

                                                                                                                                    Explanation: Only visible for PrepPDF members. You can sign-up / login (it's free).

                                                                                                                                    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. post policy event.
                                                                                                                                    • C. standard exception.
                                                                                                                                    • D. condition.
                                                                                                                                    Answer: A

                                                                                                                                    A leasehold interest in real property ownership is

                                                                                                                                    • A. an insurable interest.
                                                                                                                                    • B. an usury interest.
                                                                                                                                    • C. a non insurable interest.
                                                                                                                                    • D. a lien interest.
                                                                                                                                    Answer: A

                                                                                                                                    Explanation: Only visible for PrepPDF members. You can sign-up / login (it's free).

                                                                                                                                    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
                                                                                                                                    Answer: C

                                                                                                                                    Explanation: Only visible for PrepPDF members. You can sign-up / login (it's free).

                                                                                                                                    An insurance licensee must do all of the following in order to renew an insurance license EXCEPT

                                                                                                                                    • A. complete the continuing education requirements, if applicable.
                                                                                                                                    • B. hold active insurer appointment(s).
                                                                                                                                    • C. pay the required renewal fee.
                                                                                                                                    • D. submit to the department a completed renewal form.
                                                                                                                                    Answer: B

                                                                                                                                    Explanation: Only visible for PrepPDF members. You can sign-up / login (it's free).

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