The PA-Title-Insurance-Agent questions were easy because they came back to me from the work book.
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Following are some reference material for actual Insurance Licensing PA-Title-Insurance-Agent exam test
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| Section | Weight | Objectives |
|---|---|---|
| Title Insurance Principles | 25% | - Purpose and function of title insurance - Title search and examination procedures - Exceptions and risk elimination - Title commitments and policy forms |
| Real Estate Transactions & Settlement | 10% | - Policy issuance and delivery - Escrow and closing procedures - Disbursement and record-keeping |
| General Insurance Concepts | 15% | - Basic insurance principles - Contract law fundamentals - Risk and indemnity |
| Real Property Law | 25% | - Liens, encumbrances, and easements - Conveyance and recording statutes - Property rights and interests |
| Insurance Regulation | 25% | - Unfair trade practices and ethics - Pennsylvania insurance statutes and regulations - Licensing requirements and procedures |
1. Which one of the following estates may NOT be insured under a title insurance policy?
A) Leasehold.
B) Easement.
C) License.
D) Life estate.
2. An ALTA survey of the land could disclose all of the following EXCEPT
A) a pond located on the land.
B) a property line lawsuit.
C) a violation of the setback line.
D) the improvements on the land.
3. To satisfy a mortgage of record, which of the following must be filed?
A) a payoff statement
B) an original note
C) a certified copy of original mortgage
D) a mortgage satisfaction
4. 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) list the expiration date of his or her commission
B) affix his or her official stamp
C) obtain proper identification from all signers
D) sign his or her name on the witness line
5. An agent who collects money from an insured and holds it for payment to the insurer is
A) commingling funds.
B) wrongfully withholding funds.
C) acting in a fiduciary capacity.
D) providing coverage.
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: C |
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