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

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

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

                                                                                                                                    1. Title is vested in Bill and Monica. The deed says nothing as to how they are to hold title or as to their marital status. They are NOT married to each other. The presumption is that

                                                                                                                                    A) the conveyance is void.
                                                                                                                                    B) they are tenants in common.
                                                                                                                                    C) they are joint tenants with rights of survivorship.
                                                                                                                                    D) they are tenants by the entirety.


                                                                                                                                    2. Which of the following is NOT among the requirements for recording a document affecting title to property in Pennsylvania?

                                                                                                                                    A) The addresses of grantees must be provided on a special form appended to the document.
                                                                                                                                    B) The stamp of the notary must be clear and legible and nothing may be written over it.
                                                                                                                                    C) The executed title insurance policy must be sent to the state insurance department.
                                                                                                                                    D) The signatures on the document must be acknowledged.


                                                                                                                                    3. On what schedule of a title commitment would you find an easement that is proposed to be an exception from policy coverage?

                                                                                                                                    A) C
                                                                                                                                    B) B-II
                                                                                                                                    C) A
                                                                                                                                    D) B-I


                                                                                                                                    4. Title insurance NOT covering the insured for unpaid property taxes, which are NOT known at the time of closing, would be considered a

                                                                                                                                    A) judgment.
                                                                                                                                    B) standard exception.
                                                                                                                                    C) federal lien.
                                                                                                                                    D) covenant.


                                                                                                                                    5. Which of the following is NOT effective with a Quit Claim Deed?

                                                                                                                                    A) Conveyance of title interest.
                                                                                                                                    B) Stops grantor from asserting rights.
                                                                                                                                    C) Remove clouds on title.
                                                                                                                                    D) Warranty of title.


                                                                                                                                    Solutions:

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

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