California State NMLS Practice Test Exam Questions with Correct Answers 2 Exam (elaborations) Module 1 NMLS exam questions with complete answers latest update 3 Exam (elaborations) Mortgage NMLS Exam Questions with Correct Answers 4 Exam (elaborations) NMLS - Champion Test Exam Questions and Ans...
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Practice NMLS test - 20 Hour Safe Exam Review Questions and Answers In order to become a state licensed LO, the applicant must complete how many hours of prelicense education courses within 30 days of the end of the fiscal quarter a. 45 b. 30 c. 25 d. 20 - Answer-d A lender which will ma...
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Add to cartPractice NMLS test - 20 Hour Safe Exam Review Questions and Answers In order to become a state licensed LO, the applicant must complete how many hours of prelicense education courses within 30 days of the end of the fiscal quarter a. 45 b. 30 c. 25 d. 20 - Answer-d A lender which will ma...
NMLS Safe Test Mortgage Licensing Practice Exam Questions and Answers A borrower is buying a house for $180,000. He provides a down payment of $40,000. If he pays three discount points, what is the total cost of the points? - Answer-$4200 Which day is counted as part of the CD three business d...
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Add to cartNMLS Safe Test Mortgage Licensing Practice Exam Questions and Answers A borrower is buying a house for $180,000. He provides a down payment of $40,000. If he pays three discount points, what is the total cost of the points? - Answer-$4200 Which day is counted as part of the CD three business d...
NMLS SAFE EXAM QUESTIONS AND ANSWERS LATEST Define PMI and state what the acronym stands for. - Answer-Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - Answer-Disabled veterans and surviving spouses. US...
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Add to cartNMLS SAFE EXAM QUESTIONS AND ANSWERS LATEST Define PMI and state what the acronym stands for. - Answer-Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - Answer-Disabled veterans and surviving spouses. US...
NMLS Practice Test Hard Questions with 100% Correct Answers According to the Truth-in-Lending Act (TILA), the term "refinance" applies to A.) A change in a payment schedule B.) A reduction in annual percentage rate C.) The renewal of a single payment obligation with no change in the origin...
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Add to cartNMLS Practice Test Hard Questions with 100% Correct Answers According to the Truth-in-Lending Act (TILA), the term "refinance" applies to A.) A change in a payment schedule B.) A reduction in annual percentage rate C.) The renewal of a single payment obligation with no change in the origin...
NMLS Practice Test Exam Questions with Complete Answers
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NMLS PRACTICE EXAM QUESTIONS WITH CORRECT ANSWERS
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NMLS MLO Exam Questions and Answers What should not be over-weighted in an analysis of borrower repayment capacity? - Answer-Credit scores Max prepayment penalty on residential mortgages in the first year of the loan - Answer-3% What must condominium associations do with respect to property...
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Add to cartNMLS MLO Exam Questions and Answers What should not be over-weighted in an analysis of borrower repayment capacity? - Answer-Credit scores Max prepayment penalty on residential mortgages in the first year of the loan - Answer-3% What must condominium associations do with respect to property...
NMLS final exam questions with 100% Correct answers Which document actually contains the borrower's promise to repay the loan? A. The deed B. The mortgage C. The note D. The TIL Disclosure - Answer-C. The note The practice of intentionally targeting borrowers in poor or underserved area...
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Add to cartNMLS final exam questions with 100% Correct answers Which document actually contains the borrower's promise to repay the loan? A. The deed B. The mortgage C. The note D. The TIL Disclosure - Answer-C. The note The practice of intentionally targeting borrowers in poor or underserved area...
NMLS Exam Study Guide Questions and Answers Due on Demand Clause - Answer-(Considered a predatory practice) The lender can demand repayment of the loan in full at anytime for any reason HOEPA - Answer-Home Ownership and Equity Protection Act (Reg Z Sec 32) Amends TILA Nonrecourse Agreement ...
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Add to cartNMLS Exam Study Guide Questions and Answers Due on Demand Clause - Answer-(Considered a predatory practice) The lender can demand repayment of the loan in full at anytime for any reason HOEPA - Answer-Home Ownership and Equity Protection Act (Reg Z Sec 32) Amends TILA Nonrecourse Agreement ...
NMLS Exam Review Questions with Verified Answers- Latest In order to qualify for an adjustable-rate mortgage, a consumer must be able to show that he or she can: A. Make regularly scheduled payments that are calculated using the loan's introductory rate B. Make amortizing payments that are ca...
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Add to cartNMLS Exam Review Questions with Verified Answers- Latest In order to qualify for an adjustable-rate mortgage, a consumer must be able to show that he or she can: A. Make regularly scheduled payments that are calculated using the loan's introductory rate B. Make amortizing payments that are ca...
NMLS EXAM 1 Questions with Complete Solutions 4) The NMLS online system was built and is maintained by which of the following organizations: A. ABA B. FFIEC C. FINRA D. FTC - Answer-C. **FINRA**Financial Industry Regulatory Authority and they operate several similar systems in the securiti...
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Add to cartNMLS EXAM 1 Questions with Complete Solutions 4) The NMLS online system was built and is maintained by which of the following organizations: A. ABA B. FFIEC C. FINRA D. FTC - Answer-C. **FINRA**Financial Industry Regulatory Authority and they operate several similar systems in the securiti...
NMLS 2023/2024 Exam Questions with Correct Answers Annual percentage rate (APR): - Answer-Does NOT include...TEN ACT- (Title,Escrow,Notary,Appraisal,Credit Report,Termite)A measurement of the total cost of the credit, expressed as an annual rate. The APR includes those paid at the time of closing...
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Add to cartNMLS 2023/2024 Exam Questions with Correct Answers Annual percentage rate (APR): - Answer-Does NOT include...TEN ACT- (Title,Escrow,Notary,Appraisal,Credit Report,Termite)A measurement of the total cost of the credit, expressed as an annual rate. The APR includes those paid at the time of closing...
MLO SAFE NMLS safe test practice exam questions and answers A loan subject to HOEPA allows prepayment penalties for the first ______ years of the loan. - Answer-2 (two) years Per the Dodd-Frank Act an abusive act would include which of the following: 1. One that materially interferes with the...
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Add to cartMLO SAFE NMLS safe test practice exam questions and answers A loan subject to HOEPA allows prepayment penalties for the first ______ years of the loan. - Answer-2 (two) years Per the Dodd-Frank Act an abusive act would include which of the following: 1. One that materially interferes with the...
SAFE NMLS Exam Prep Questions with Correct Answers RESPA is concerned with: - Answer-A. Kickbacks B. Credit reports C. Triggering terms in ads D. U.S. security A. The Good Faith Estimate/Loan Estimate must be sent to the borrower within how many business days of receiving a loan applicat...
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Add to cartSAFE NMLS Exam Prep Questions with Correct Answers RESPA is concerned with: - Answer-A. Kickbacks B. Credit reports C. Triggering terms in ads D. U.S. security A. The Good Faith Estimate/Loan Estimate must be sent to the borrower within how many business days of receiving a loan applicat...
NMLS TEST-Affinity Exam Questions with Complete Solutions Regulation X is the letter used to describe which law? - Answer-RESPA RESPA is the acronym used to describe which law? - Answer-Real Estate Settlement Procedures Act What type of mortgage requires a non-refundable funding fee? - Answ...
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Add to cartNMLS TEST-Affinity Exam Questions with Complete Solutions Regulation X is the letter used to describe which law? - Answer-RESPA RESPA is the acronym used to describe which law? - Answer-Real Estate Settlement Procedures Act What type of mortgage requires a non-refundable funding fee? - Answ...
NMLS Test Exam Questions with Correct Answers (Rated A+) RESPA 4 sections - Answer-Section 6: Mortgage Servicing Disclosure Statement: mortgage servicers are required to correct errors and work with home buyers if payments aren't being made. Section 8: No kickbacks/referral fees Section 9: Se...
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Add to cartNMLS Test Exam Questions with Correct Answers (Rated A+) RESPA 4 sections - Answer-Section 6: Mortgage Servicing Disclosure Statement: mortgage servicers are required to correct errors and work with home buyers if payments aren't being made. Section 8: No kickbacks/referral fees Section 9: Se...
NMLS SAFE EXAM PREP QUESTIONS AND ANSWERSNMLS SAFE EXAM PREP QUESTIONS AND ANSWERS PMI - Answer-Private mortgage insurance TILA deals with - Answer-advertising of loans, cerdit, APR PMI protects who - Answer-The Lender SAFE - Answer-Secure And Fair Enforcement Act HERA - Answer-Housin...
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Add to cartNMLS SAFE EXAM PREP QUESTIONS AND ANSWERSNMLS SAFE EXAM PREP QUESTIONS AND ANSWERS PMI - Answer-Private mortgage insurance TILA deals with - Answer-advertising of loans, cerdit, APR PMI protects who - Answer-The Lender SAFE - Answer-Secure And Fair Enforcement Act HERA - Answer-Housin...
NMLS SAFE ACT MLO Exam - Federal Law Exam Questions with Correct Answers (100% Pass)
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NMLS Laws and Regulations Exam Questions with Complete Solutions RESPA - Answer-Real Estate Settlement Procedures Act What does RESPA do? - Answer-•Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. •Educates borrowers costs of loan • Eliminates ...
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Add to cartNMLS Laws and Regulations Exam Questions with Complete Solutions RESPA - Answer-Real Estate Settlement Procedures Act What does RESPA do? - Answer-•Protects homeowners of Single, 1-4 family dwellings, condos, & homes manufactured on lot. •Educates borrowers costs of loan • Eliminates ...
NMLS KEY WORDS SAFE EXAM QUESTIONS WITH CORRECT ANSWERS
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NMLS Final Exam Questions and Answers Latest XYZ Mortgage Company just mailed a closing disclosure to a consumer. The waiting period prior to closing will begin: a. The third business day after the closing disclosure is mailed b. The day on which the company received a completed, signed loan ap...
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Add to cartNMLS Final Exam Questions and Answers Latest XYZ Mortgage Company just mailed a closing disclosure to a consumer. The waiting period prior to closing will begin: a. The third business day after the closing disclosure is mailed b. The day on which the company received a completed, signed loan ap...
NMLS Final Exam Questions and Answers (100% Pass)
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NMLS Exam Study Guide: RESPA Exam Questions with Correct Answers Thing of Value - Answer-A __________ may include gift cards, sports tickets, advertising space, marketing material bearing a real etate agent's information to give to his/her client, etc. True (Promotional items with the company...
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Add to cartNMLS Exam Study Guide: RESPA Exam Questions with Correct Answers Thing of Value - Answer-A __________ may include gift cards, sports tickets, advertising space, marketing material bearing a real etate agent's information to give to his/her client, etc. True (Promotional items with the company...
NMLS Exam Study Guide Exam Questions and Answers Which of the following is not considered one of the six essential pieces of information constituting an application under RESPA? - Answer-Loan program According to RESPA, when would fee splitting be allowed? - Answer-If all parties render a serv...
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Add to cartNMLS Exam Study Guide Exam Questions and Answers Which of the following is not considered one of the six essential pieces of information constituting an application under RESPA? - Answer-Loan program According to RESPA, when would fee splitting be allowed? - Answer-If all parties render a serv...
NMLS Exam Review Questions with Correct Answers RESPA - Answer-Borrowers receive disclosure regarding nature and costs of the real estate settlement (closing) process RESPA - Answer-Protects consumers against abusive practices and the use of reserve accounts Regulation X - Answer-The rules ...
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Add to cartNMLS Exam Review Questions with Correct Answers RESPA - Answer-Borrowers receive disclosure regarding nature and costs of the real estate settlement (closing) process RESPA - Answer-Protects consumers against abusive practices and the use of reserve accounts Regulation X - Answer-The rules ...
NMLS Exam Questions with verified Answers (Graded A+) One of the many tasks of the Consumer Financial Protection Bureau (CFPB) is to - Answer-ensure borrowers understand the fine print that explains the risks involved in using financial services The main purpose of Regulation V is to - Answer-...
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Add to cartNMLS Exam Questions with verified Answers (Graded A+) One of the many tasks of the Consumer Financial Protection Bureau (CFPB) is to - Answer-ensure borrowers understand the fine print that explains the risks involved in using financial services The main purpose of Regulation V is to - Answer-...
NMLS Exam Questions with Verified Answers (100% Guaranteed Pass) Which of the following pieces of information is NOT found on the 1003? - Answer-underwriters name Which of the following federal regulations prohibits discrimination based on race, color, religion, sex, marital status, or nationa...
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Add to cartNMLS Exam Questions with Verified Answers (100% Guaranteed Pass) Which of the following pieces of information is NOT found on the 1003? - Answer-underwriters name Which of the following federal regulations prohibits discrimination based on race, color, religion, sex, marital status, or nationa...
NMLS Exam Questions with Correct Answers (Definite Pass) All of the following types of information must be reported for government monitoring purposes in accordance with HMDA, except: Identification of loans subject to HOEPA Action taken on the loan and the location of the subject property Eth...
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Add to cartNMLS Exam Questions with Correct Answers (Definite Pass) All of the following types of information must be reported for government monitoring purposes in accordance with HMDA, except: Identification of loans subject to HOEPA Action taken on the loan and the location of the subject property Eth...
NMLS Exam Questions with Complete Solutions Latest Update 15 - Answer-The Notice of Transfer of Servicing Rights is due within ___ days prior to transfer. The lender or servicer must provide notice to the borrower. 15 - Answer-The new loan servicer must provide notice within ___ days after the...
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Add to cartNMLS Exam Questions with Complete Solutions Latest Update 15 - Answer-The Notice of Transfer of Servicing Rights is due within ___ days prior to transfer. The lender or servicer must provide notice to the borrower. 15 - Answer-The new loan servicer must provide notice within ___ days after the...
NMLS exam Questions with 100% Verified Answers (Rated A+) servicing a mortgage loan - Answer-collecting payments and maintaining a payment schedule and escrows, which can be optional, for a mortgage loan. loan to value ratio - Answer-The amount of money borrowed compared to the appraised value...
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Add to cartNMLS exam Questions with 100% Verified Answers (Rated A+) servicing a mortgage loan - Answer-collecting payments and maintaining a payment schedule and escrows, which can be optional, for a mortgage loan. loan to value ratio - Answer-The amount of money borrowed compared to the appraised value...
Nmls exam 2 questions with complete solutions (Graded A+) annually - Answer-For a loan that has escrow included RESPA requires a lender to perform an escrow analysis Cannot call the borrower because she is on the lending company's do not call list - Answer-A borrowers name is on the nationa...
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Add to cartNmls exam 2 questions with complete solutions (Graded A+) annually - Answer-For a loan that has escrow included RESPA requires a lender to perform an escrow analysis Cannot call the borrower because she is on the lending company's do not call list - Answer-A borrowers name is on the nationa...
NMLS - Champion Test Exam Questions and Answers Which law sets forth escrow requirements for higher priced mortgage loans? - Answer-Truth in Lending Act Which federal act introduced the idea of a qualified mortgage? - Answer-Dodd-Frank Act The federal Truth In Lending Act - Answer-regulates...
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Add to cartNMLS - Champion Test Exam Questions and Answers Which law sets forth escrow requirements for higher priced mortgage loans? - Answer-Truth in Lending Act Which federal act introduced the idea of a qualified mortgage? - Answer-Dodd-Frank Act The federal Truth In Lending Act - Answer-regulates...
Mortgage NMLS Exam Questions with Correct Answers Deed of Trust - Answer-Legal document between lender and borrower (aka the trustor) which is used in some states instead of a mortgage to transfer a property's legal title to a neutral third party (trustee) to secure the repayment of loan. Dis...
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Add to cartMortgage NMLS Exam Questions with Correct Answers Deed of Trust - Answer-Legal document between lender and borrower (aka the trustor) which is used in some states instead of a mortgage to transfer a property's legal title to a neutral third party (trustee) to secure the repayment of loan. Dis...
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