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

SectionObjectives
Ethics and Professional Conduct- Fiduciary Responsibilities
  • 1. Duties of insurance producers
    • 2. Consumer protection standards
      Insurance Industry Overview- Regulatory Framework
      • 1. Licensing requirements and compliance
        • 2. State insurance regulations (Pennsylvania)
          - Fundamentals of Insurance Principles
          • 1. Insurance contract basics
            • 2. Risk concepts and types of risk
              Title Insurance Principles- Title Search and Examination
              • 1. Chain of title
                • 2. Public records and title defects
                  - Title Insurance Policies
                  • 1. Owner vs lender policies
                    • 2. Covered risks and exclusions
                      Real Estate and Settlement Procedures- Legal Concepts
                      • 1. Liens and encumbrances
                        • 2. Deeds and conveyancing
                          - Closing Process
                          • 1. Settlement statements (HUD-1 / Closing Disclosure)
                            • 2. Escrow handling

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

                              Which of the following is excluded from coverage in the standard owner's policy?

                              • A. any claim for loss or damage based on negligence arising from the status of lien with the insured mortgage
                              • B. recorded documentation on the title to real property without acknowledgment
                              • C. any law, ordinance, or governmental regulation without filed notice
                              • D. lack of a right of access to and from the land
                              Reveal Solution  Discussion  0

                              Correct Answer: C  🗳️

                              Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).

                              A statement included on a title commitment such as "record warranty deed from the owner shown in Schedule A vesting title in the proposed insured" is an example of a

                              • A. post policy event.
                              • B. condition.
                              • C. requirement.
                              • D. standard exception.
                              Reveal Solution  Discussion  0

                              Correct Answer: C  🗳️

                              Which of the following is NOT the responsibility of the Notary Public when taking an acknowledgment on a Deed, Mortgage or Deed of Trust?

                              • A. sign his or her name on the witness line
                              • B. list the expiration date of his or her commission
                              • C. affix his or her official stamp
                              • D. obtain proper identification from all signers
                              Reveal Solution  Discussion  0

                              Correct Answer: A  🗳️

                              Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).

                              Which property type includes all lands, man-made improvements, anything growing on the lands, as well as interests, or "rights," including future occupancy, reversion, and the use of surface and air space?

                              • A. Intangible
                              • B. Personal
                              • C. Tangible
                              • D. Real
                              Reveal Solution  Discussion  0

                              Correct Answer: D  🗳️

                              Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).

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

                              • A. it does not give constructive notice of ownership
                              • B. it need not contain a legal description
                              • C. it is not valid between the grantor and the grantee
                              • D. it need not name the grantee
                              Reveal Solution  Discussion  0

                              Correct Answer: A  🗳️

                              Explanation: Only visible for ActualVCE members. You can sign-up / login (it's free).

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