PA-Title-Insurance-Agent by Insurance Licensing Valid Free Exam Practice Test

Question 1

Which section of a title insurance policy lists the rights of the insurer?

A. exclusions from coverage B. insuring agreement C. conditions D. declarations

Correct Answer: C

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Question 2

An ALTA survey of the land could disclose all of the following EXCEPT

A. a violation of the setback line. B. a pond located on the land. C. the improvements on the land. D. a property line lawsuit.

Correct Answer: D

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Question 3

The sale of a property was subject to the buyer's being able to assume an existing loan on the property. Upon examination, the note was found to contain a clause that prohibited the assumption of the loan. The clause was

A. a subordination clause. B. a due-on-sale clause. C. an assumption clause. D. a prepayment clause.

Correct Answer: B

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Question 4

Which of the following parties can file a claim under the provisions of a title policy?

A. The holder of an undisclosed interest in the insured property. B. The insured named under the policy. C. The holder of a judgment against the insured. D. The taxing authority with jurisdiction over the insured property.

Correct Answer: B

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Question 5

Title is held by John and Kate, as joint tenants with right of survivorship. If John dies, which is the simplest manner of establishing record evidence of the marketable title in Kate?

A. Record in the county where the property is located a certified copy of John's death certificate. B. Probate the estate of John. C. Nothing is required. D. Record a certified copy of a probate court order of John's estate distributing the home to Kate.

Correct Answer: A

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Question 6

According to the Fair Credit Reporting Act, an insurer needs to do all of the following, EXCEPT

A. discuss any credit history inconsistencies with the applicant. B. notify the applicant if an application is denied. C. inform the applicant that an investigation is being conducted. D. inform the applicant about the scope of an investigation.

Correct Answer: A

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Question 7

A real estate interest that passes at death by operation of law to the surviving title holder is known as

A. tenancy in common. B. fee simple estate. C. real estate contract interest. D. joint tenancy.

Correct Answer: D

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Insurance Licensing Pennsylvania Producers Examination for Title Insurance Series 16-10 - PA-Title-Insurance-Agent Exam Practice Test