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

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

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

                                                                                                                                    1. A manufactured home can be insured if

                                                                                                                                    A) it has a motor vehicle title and is located on the insured property.
                                                                                                                                    B) the motor vehicle title has been deactivated, it is affixed and assessed as real property.
                                                                                                                                    C) a mortgage has been filed describing the manufactured home.
                                                                                                                                    D) it is on the insured property and has a permanent foundation.


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

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


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

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


                                                                                                                                    4. A deed was properly completed and executed. Title to the property passed when the deed was

                                                                                                                                    A) signed.
                                                                                                                                    B) recorded.
                                                                                                                                    C) acknowledged.
                                                                                                                                    D) accepted by the grantee.


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

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


                                                                                                                                    Solutions:

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

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