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

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

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Insurance Licensing Pennsylvania Producers Examination for Title Insurance Series 16-10 Sample Questions (Q13-Q18):

NEW QUESTION # 13
When issuing an Owner's policy, encumbrances should be shown as

A. listed on Schedule A for informational purposes.
B. a requirement in Schedule B-I.
C. an exception in Schedule C.
D. listed on Schedule B as an exception.

Answer: D

Explanation:
Encumbrances that will remain against the property and are not insured over should be listed on Schedule B as exceptions. Schedule A identifies basic policy information such as the insured, estate or interest insured, policy amount, and legal description. Schedule B is where exceptions from coverage are listed, including easements, restrictions, liens, taxes, covenants, or other matters that the policy will not cover. Schedule B-I is commonly associated with commitment requirements that must be satisfied before issuing the policy, not final policy exceptions. Schedule C is not the correct schedule for owner's policy encumbrance exceptions in this testing context. The Pennsylvania title outline specifically lists Schedule A, Schedule B exceptions, exclusions, and title insurance policy structure.

NEW QUESTION # 14
Which of the following parties can file a claim under the provisions of a title policy?

A. The holder of an undisclosed interest in the insured property.
B. The holder of a judgment against the insured.
C. The taxing authority with jurisdiction over the insured property.
D. The insured named under the policy.

Answer: D

Explanation:
The insured named under the title policy is the party entitled to make a claim under the policy, subject to the policy's definitions, conditions, exclusions, and exceptions. A judgment creditor, undisclosed interest holder, or taxing authority may assert a claim against the property, but that does not make them an insured claimant under the title policy. Title insurance is a contract of indemnity between the insurer and the insured; third parties generally do not file policy claims unless they qualify as insureds under the policy terms. ALTA policy language requires notice of claim by the insured claimant and ties claim rights to the insured's covered loss.
Pennsylvania's title outline tests owner's policies, loan policies, policy conditions, and title insurance policy structure.

NEW QUESTION # 15
The MAIN purpose of an endorsement is to

A. describe the covered losses.
B. modify the policy.
C. decrease the premium.
D. increase the premium.

Answer: B

Explanation:
The main purpose of an endorsement is to modify the policy. In title insurance, an endorsement can add, limit, delete, clarify, or expand coverage depending on the approved form and underwriting requirements. It may affect premium, but changing the premium is not the purpose of an endorsement. The policy's insuring provisions and covered risks describe the core coverage; the endorsement alters how that policy applies to a particular transaction or risk. For example, endorsements may address access, zoning, restrictions, manufactured housing, survey matters, or additional insureds. This is squarely within Title Insurance because the Pennsylvania title outline lists endorsements under title insurance policy structure and provisions, along with commitments, owner's policies, loan policies, Schedule A, Schedule B, exclusions, and conditions.

NEW QUESTION # 16
Who of the following CANNOT be covered by a Closing Protection Letter?

A. Seller.
B. Lender.
C. Purchaser/buyer.
D. Escrow agent.

Answer: D

Explanation:
A closing protection letter protects a covered party against certain losses caused by the title insurer's issuing agent or approved attorney in connection with the closing. The escrow or closing agent is the party whose misconduct or failure to follow written closing instructions may trigger the CPL protection; that agent is not the protected party under the letter. The Pennsylvania TIRBOP/ALTA CPL form identifies the protection as indemnity for the addressee's actual loss of funds and ties eligibility to the lender or purchaser/lessee role in the transaction. Therefore, the escrow agent cannot be covered by the CPL. This fits the exam outline's Real Estate Transactions topic, specifically insured closing protection.

NEW QUESTION # 17
An insurer fails to promptly provide a reasonable explanation for the denial of a claim as a general business practice. This is considered to be

A. a fraudulent insurance act.
B. an unfair insurance practice.
C. a violation of the grace period provision.
D. a contractual liability.

Answer: B

Explanation:
Failing to promptly provide a reasonable explanation for the denial of a claim, when done with enough frequency to indicate a business practice, is an unfair claim settlement practice and therefore an unfair insurance practice. It is not merely contractual liability, because the question describes a regulatory claims- handling violation. It is unrelated to a grace period, which concerns time to pay premiums. It is also not necessarily a fraudulent insurance act because fraud requires deception or false representation. Pennsylvania's Unfair Insurance Practices Act specifically identifies as an unfair claim settlement practice the failure to promptly provide a reasonable explanation of the policy basis, facts, or law for denying a claim or offering a compromise settlement.

NEW QUESTION # 18
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