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Insurance Licensing Pennsylvania Producers Examination for Title Insurance Series 16-10 Sample Questions:
1. Coverage under a loan policy remains effective
A) during the life of the owner.
B) until the property is sold.
C) until the secured debt is satisfied.
D) until the lender assigns the mortgage.
2. When a land owner uses his land as security for a loan, the encumbrance created is called
A) a promissory note.
B) a mortgage.
C) a special security.
D) an involuntary lien.
3. An acknowledgment
A) is a signature on a deed.
B) provides evidence that a signature is genuine.
C) is an authorization to convey property.
D) states that a deed contains verified information.
4. To satisfy a mortgage of record, which of the following must be filed?
A) a payoff statement
B) a mortgage satisfaction
C) a certified copy of original mortgage
D) an original note
5. What is the purpose of probate of an estate?
A) to foreclose a lien
B) to avoid inheritance tax
C) to establish heirs
D) to transfer a deceased's debts
Solutions:
Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: C |