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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: General Insurance Concepts | 3% | |
| Topic 2: Insurance Regulation | 12% | - State regulation
|
| Topic 3: Title Insurance Principles | - Insurable interests
| |
| Topic 4: Title Exceptions and Procedures for Clearing Title | 21% | - General exceptions - Liens and encumbrances
|
1. Which of the following types of deeds provides the purchaser of real estate the greatest protection?
A) deed in trust
B) general warranty deed
C) quitclaim deed
D) trustee's deed
2. Which of the following is considered a voluntary lien?
A) Real estate tax lien.
B) Mortgage lien.
C) Construction lien.
D) State tax lien.
3. Which of the following is considered an involuntary lien?
A) a life estate reservation
B) deed restriction
C) HELOC loan
D) federal tax lien
4. A chain of title is best described as
A) a series of conveyances of public record.
B) an opinion of title provided by an attorney.
C) an historical record of liens on the property.
D) a grantor/grantee index.
5. Which of the following is NOT among the requirements for recording a document affecting title to property in Pennsylvania?
A) The signatures on the document must be acknowledged.
B) The executed title insurance policy must be sent to the state insurance department.
C) The stamp of the notary must be clear and legible and nothing may be written over it.
D) The addresses of grantees must be provided on a special form appended to the document.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: B |
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