UST Test Prep 1 Question and answer 100% correct 2024

UST Test Prep 1 Question and answer 100% correct 2024 A loan originator who applies to be licensed again must: - correct answer complete the Continuing Education requirements for the last year in which the license was held A loan originator is: - correct 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: - correct 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? - correct answer The Consumer Financial Protection Bureau The Regulatory Authority may impose penalties for each violation up to, and not exceeding: - correct 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: - correct answer on the company's front door A Mortgage Loan Originator is: - correct answer any person who for compensation places a loan within this state for others Which of the following is not considered "prohibited conduct"? - correct answer Making a costly error The SAFE Act is designed to do all of the following except: - correct answer Reduce fraud by creating an enforcement agency that prosecutes unethical activity Which of the following are powers/duties of the Regulatory Authority? - correct answer Conduct examinations of licensee's books and records