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

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

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

                                                                                                                                    1. A leasehold interest in real property ownership is

                                                                                                                                    A) an insurable interest.
                                                                                                                                    B) a non insurable interest.
                                                                                                                                    C) an usury interest.
                                                                                                                                    D) a lien interest.


                                                                                                                                    2. The process by which a mortgage is enforced against real estate is called a

                                                                                                                                    A) trustee sale.
                                                                                                                                    B) non-judicial foreclosure.
                                                                                                                                    C) forfeiture.
                                                                                                                                    D) sheriff's sale.


                                                                                                                                    3. A state tax lien filed in the county where the taxpayer owns property is

                                                                                                                                    A) a lien that remains in force for a 3-year period.
                                                                                                                                    B) a lien against any property owned by the taxpayer in the county.
                                                                                                                                    C) only a lien upon the sale of the property.
                                                                                                                                    D) only a lien against the property described in the lien.


                                                                                                                                    4. A manufactured home can be insured if

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


                                                                                                                                    5. Which of the following is NOT effective with a Quit Claim Deed?

                                                                                                                                    A) Warranty of title.
                                                                                                                                    B) Stops grantor from asserting rights.
                                                                                                                                    C) Conveyance of title interest.
                                                                                                                                    D) Remove clouds on title.


                                                                                                                                    Solutions:

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

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