UST Test Prep 1 Study Guide with Complete Solutions
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Course
2024/2025
Institution
2024/2025
UST Test Prep 1 Study Guide with
Complete Solutions
A loan originator who applies to be licensed again must: - Answer-complete the Continuing
Education requirements for the last year in which the license was held
A loan originator is: - Answer-An individual who takes a residential mortgage loan...
UST Test Prep 1 Study Guide with
Complete Solutions
A loan originator who applies to be licensed again must: - Answer✔✔-complete the Continuing
Education requirements for the last year in which the license was held
A loan originator is: - Answer✔✔-An individual who takes a residential mortgage loan
application and offers or negotiates terms of a residential mortgage loan for compensation or
gain
All of the following are required to be licensed except: - Answer✔✔-an individual negotiating a
residential mortgage loan with or on behalf of an immediate family membe
Which of the following is not considered a Federal Banking Agency? - Answer✔✔-The Consumer
Financial Protection Bureau
The Regulatory Authority may impose penalties for each violation up to, and not exceeding: -
Answer✔✔-$25,000
The Unique Identifier, issued by NMLS, of any person originating a residential mortgage loan
shall be clearly shown on all of the following except: - Answer✔✔-on the company's front door
A Mortgage Loan Originator is: - Answer✔✔-any person who for compensation places a loan
within this state for others
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