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

SectionObjectives
Ethics and Professional Conduct- Fiduciary Responsibilities
  • 1. Consumer protection standards
    • 2. Duties of insurance producers
      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
              Insurance Industry Overview- Fundamentals of Insurance Principles
              • 1. Insurance contract basics
                • 2. Risk concepts and types of risk
                  - Regulatory Framework
                  • 1. Licensing requirements and compliance
                    • 2. State insurance regulations (Pennsylvania)
                      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. Coverage under a loan policy remains effective

                              A) until the property is sold.
                              B) until the lender assigns the mortgage.
                              C) during the life of the owner.
                              D) until the secured debt is satisfied.


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

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


                              3. All of the following are considered valid monuments for the purpose of legally describing real property EXCEPT a

                              A) fence line.
                              B) highway.
                              C) iron pin.
                              D) corner of a recorded subdivision lot.


                              4. The effective date on a title commitment is the date

                              A) the order was completed.
                              B) of the last recording on record.
                              C) the public records were verified to.
                              D) the commitment is issued.


                              5. Which one of the following estates may NOT be insured under a title insurance policy?

                              A) Easement.
                              B) Life estate.
                              C) Leasehold.
                              D) License.


                              Solutions:

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

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