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

SectionObjectives
Title Insurance Principles- Title Search and Examination
  • 1. Chain of title
    • 2. Public records and title defects
      - Title Insurance Policies
      • 1. Covered risks and exclusions
        • 2. Owner vs lender policies
          Insurance Industry Overview- Fundamentals of Insurance Principles
          • 1. Risk concepts and types of risk
            • 2. Insurance contract basics
              - Regulatory Framework
              • 1. Licensing requirements and compliance
                • 2. State insurance regulations (Pennsylvania)
                  Ethics and Professional Conduct- Fiduciary Responsibilities
                  • 1. Consumer protection standards
                    • 2. Duties of insurance producers
                      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. Which of the following types of deeds provides the purchaser of real estate the greatest protection?

                              A) deed in trust
                              B) trustee's deed
                              C) general warranty deed
                              D) quitclaim deed


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


                              3. Which of the following is the broadest form of ownership allowed by law?

                              A) fee simple
                              B) leasehold
                              C) easement estate
                              D) life estate


                              4. The MAIN purpose of insurance is to

                              A) alter risk.
                              B) retain risk.
                              C) transfer risk.
                              D) reduce risk.


                              5. Which document is recorded in the recorder of deeds?

                              A) mechanic's lien
                              B) realty transfer tax statement of value
                              C) civil judgment
                              D) notice of lis pendens


                              Solutions:

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

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