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

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

2. Which document is recorded in the recorder of deeds?

A) realty transfer tax statement of value
B) civil judgment
C) mechanic's lien
D) notice of lis pendens

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

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

4. Which of the following items is least likely to be recorded?

A) satisfaction of mortgage
B) mortgage lien
C) mechanic's lien
D) bill of sale

5. The process by which a mortgage is enforced against real estate is called a

A) forfeiture.
B) trustee sale.
C) non-judicial foreclosure.
D) sheriff's sale.

Solutions: