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

1. A notarized deed ensures that the

A) title is transferred.
B) deed is legally binding.
C) deed can be recorded.
D) title is clear.

2. 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) sign his or her name on the witness line
B) affix his or her official stamp
C) obtain proper identification from all signers
D) list the expiration date of his or her commission

3. To satisfy a mortgage of record, which of the following must be filed?

A) a payoff statement
B) a certified copy of original mortgage
C) a mortgage satisfaction
D) an original note

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

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

5. Under the terms of a title insurance policy, when a disputed claim is decided by a neutral third party, the process is called

A) indemnification.
B) litigation.
C) arbitration.
D) subrogation.

Solutions: