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

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

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

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

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


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

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


                                                                                                                                    3. Coverage under a loan policy remains effective

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


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

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


                                                                                                                                    5. Which of the following statements is true concerning an unrecorded deed?

                                                                                                                                    A) it need not name the grantee
                                                                                                                                    B) it need not contain a legal description
                                                                                                                                    C) it does not give constructive notice of ownership
                                                                                                                                    D) it is not valid between the grantor and the grantee


                                                                                                                                    Solutions:

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

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