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

Section	Weight	Objectives
Insurance Regulation	12%	- Title insurance law requirements 1. Examination of title required - State regulation 1. Commissioner's general duties and powers - Unfair trade practices 1. Twisting 2. Rebates and inducements 3. Defamation 4. False advertising 5. Misrepresentation 6. Unfair discrimination 7. Boycott, coercion or intimidation - Producer regulation 1. Charges for extra services 2. Prohibited acts 3. Record keeping 4. Unfair inducements and marketing practices - Company regulation 1. Unfair claims settlement practices 2. Rates regulation 3. Solvency requirements - Licensing 1. Title producer additional requirements 2. Continuing education 3. Reporting of actions 4. Persons to be licensed 5. Renewal 6. Licensing process 7. Appointment procedures 8. Cease and desist orders 9. Maintenance and duration 10. Expiration 11. Disciplinary actions 12. Revocation, suspension, nonrenewal or denial of license 13. Address change 14. General requirements 15. Assumed names - Federal regulation 1. Fair Credit Reporting Act 2. Fraud and false statements (18 USC 1033/1034)
Title Insurance Principles		- Insurable interests 1. Leasehold estate 2. Easements 3. Life estate 4. Fee simple estate - Title insurance policies 1. Owner's policy 2. Loan policy 3. Commitments 4. Enhanced policies 5. Leasehold policy - Risks covered by title insurance 1. Hidden off-record risks 2. Errors in public records 3. Errors by producer - Policy structure 1. Conditions and stipulations 2. Exclusions 3. Schedule B exceptions 4. Insuring provisions 5. Endorsements 6. Schedule A - Title search techniques 1. Hard copy index 2. Computer index 3. Chain sheet
Title Exceptions and Procedures for Clearing Title	21%	- Property-related issues 1. Attachments 2. Mineral rights 3. Water rights 4. Condominiums 5. Surveys 6. Equitable interests - General exceptions - Liens and encumbrances 1. Voluntary liens 2. Involuntary liens 3. Taxes and assessments 4. Judgments 5. Federal liens
General Insurance Concepts	3%

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Insurance Licensing Pennsylvania Producers Examination for Title Insurance Series 16-10 Sample Questions (Q43-Q48):

NEW QUESTION # 43
A notarized deed ensures that the

A. title is clear.
B. title is transferred.
C. deed can be recorded.
D. deed is legally binding.

Answer: C

Explanation:
A notarized deed ensures that the deed is eligible for recording because the notarial acknowledgment verifies the execution formalities needed by the recorder's office. Notarization alone does not make title clear, does not guarantee marketable title, and does not by itself transfer ownership unless the deed has also been properly delivered and accepted. A deed may be legally effective between parties in some circumstances, but the examination issue tested here is recordability. Pennsylvania recording practice requires proper execution and acknowledgment for deeds and other instruments affecting real property. The Pennsylvania title outline specifically lists document preparation, deeds, acknowledgment forms, recording, requirements to record, and acknowledgments under Real Estate Transactions.

NEW QUESTION # 44
The Real Estate Settlement Procedure Act (RESPA), Section 8 violation that refers to a person giving or accepting a fee or "thing of value" for the referral of business is known as a

A. kickback.
B. required use.
C. conversion.
D. bundled services.

Answer: A

Explanation:
The correct RESPA Section 8 term is kickback. RESPA prohibits giving or accepting any fee, kickback, or thing of value under an agreement or understanding that settlement-service business will be referred.
"Required use" is a separate RESPA concept involving conditioning access to a service or property on use of a particular settlement-service provider. Conversion is wrongful control over another's property or funds, not the RESPA referral-fee violation. Bundled services describes grouped services but is not the statutory violation described here. In title and settlement practice, referral payments are heavily regulated because they can distort consumer choice and settlement costs. The Pennsylvania title outline includes RESPA under settlement and closing procedures.

NEW QUESTION # 45
Title insurance NOT covering the insured for unpaid property taxes, which are NOT known at the time of closing, would be considered a

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

Answer: C

Explanation:
Unpaid property taxes that are not known or not shown as existing liens at the time of closing are typically handled as a standard exception from title insurance coverage. A standard exception removes broad categories of risk from coverage unless the title company has enough evidence to delete or modify the exception. The answer is not "judgment" because a judgment is a court-created lien. It is not "federal lien" because the question refers generally to property taxes, not a federal tax lien. It is not "covenant," because covenants are restrictions or promises affecting land use. Pennsylvania's title outline specifically includes Schedule B exceptions, exclusions, taxes and assessments, and general exceptions as tested title-insurance concepts.

NEW QUESTION # 46
The MAIN purpose of insurance is to

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

Answer: C

Explanation:
The main purpose of insurance is to transfer risk. The insured transfers the financial consequences of a covered loss to the insurer in exchange for premium. Insurance does not eliminate the underlying risk or guarantee that a title defect, lien, or loss will never occur. It also does not primarily "alter" risk. Risk reduction may occur through underwriting, searches, surveys, and loss-prevention procedures, but that is not the central contractual purpose of insurance. Retention is the opposite concept: the person keeps the risk instead of transferring it. In title insurance, the buyer or lender transfers covered title-loss risk to the title insurer. The Pennsylvania title outline includes risk, loss, exposure, and methods of handling risk, including transfer and retention.

NEW QUESTION # 47
To satisfy a mortgage of record, which of the following must be filed?

A. an original note
B. a payoff statement
C. a mortgage satisfaction
D. a certified copy of original mortgage

Answer: C

Explanation:
A mortgage of record is cleared by recording a mortgage satisfaction, often called a satisfaction piece. A payoff statement shows the amount needed to pay the loan, but it does not release the lien from the land records. The original note evidences the debt and may be marked paid, but it is not the recorded release instrument. A certified copy of the original mortgage only proves the existence or contents of the recorded mortgage; it does not satisfy it. Pennsylvania's Mortgage Satisfaction Act states that mortgages are satisfied by satisfaction pieces or, in residential cases, settlement officer satisfactions, and that the recording officer indexes them against the mortgagee or last assignee.

NEW QUESTION # 48
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