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

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

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

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

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


                              2. All of the following are subject to false advertising regulations EXCEPT

                              A) gifts.
                              B) circulars.
                              C) statements.
                              D) letters.


                              3. 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) bundled services.
                              C) required use.
                              D) conversion.


                              4. A licensee has violated a Pennsylvania insurance law. The commissioner CANNOT impose what penalty after the hearing?

                              A) license revocation
                              B) a fine
                              C) a jail sentence
                              D) license suspension


                              5. What requirements define which closing costs are allowable as charges to the borrower?

                              A) RESPA
                              B) FHA
                              C) State
                              D) ALTA


                              Solutions:

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

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