Exam (elaborations)
PA Title Agent Licensing Exam (1
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- CON 2370 Simplified Acquisition Procedures
PA Title Agent Licensing Exam (1
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PA Title Agent Licensing ExamDesignated Licensee - ANS-a licensed individual who is designated by a business to be
responsible for the entities compliance with the insurance laws
Insurance Producer - ANS-Person who solicits, negotiates or places risk
Title Insurance Agent - ANS-Authorized person, firm, association, corp., or other legal entity who
acts in conjunction with the issuance of a title insurance report/policy
Rebating - ANS-Increasing a charge or fee and then returning some or all to the client
Misrepresentation - ANS-Misrepresenting terms, financial condition of a person, making or
publishing untrue/deceptive information about a business
False Advertising - ANS-Publishing advertising that solicits business for unauthorized acts
Twisting - ANS-Convincing policyholders to drop present policies to insure with another
company
Defamation - ANS-Making false oral or written statements which are maliciously critical of
another agent/business with the intent to injure
Boycott, Coercion, and Intimidation - ANS-Entering into an agreement that would result in the
restraint or monopoly of the insurance business
Unfair Discrimination - ANS-Discriminating between individuals in the same class
Illegal Inducements - ANS-Providing businessed with tangible items or cash, advancing escrow
funds, releasing escrow funds prior to approval
Fair Credit Reporting Act - ANS-Imposes mandatory disclosure requirements on those who use
credit reports to determine eligibility for credit, insurance or employment
Fraud and False Statements - ANS-Regulates crimes by or affecting persons engaged in the
business of insurance whose activities affect interstate commerce and sets civil and criminal
penalties
Risk Management - ANS-Procedures or systems of active identification, evaluation and
management used to minimize the probability of loss
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