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

1. What must accompany the satisfaction piece when presented for recording?

A) The final receipt
B) The certificate of title
C) The payment record
D) The original mortgage instrument

2. All of the following are considered valid monuments for the purpose of legally describing real property EXCEPT a

A) highway.
B) corner of a recorded subdivision lot.
C) fence line.
D) iron pin.

3. 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) standard exception.
B) condition.
C) post policy event.
D) requirement.

4. Which two elements should always be contained in an escrow agreement, specifically to protect the fiduciary and prevent lawsuits?

A) limitation of liability and ability to resign
B) amount of escrow and addresses of each party
C) location of property and reason for escrow
D) time limit and file number

5. A waiver is defined as the

A) intentional and voluntary giving up of a known right.
B) modification of a known right.
C) acceptance of terms of the policy.
D) misrepresentation of a known right.

Solutions: