Nmls practice test hard - Study guides, Class notes & Summaries
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NMLS Practice Test Hard Questions and Answers 100% correct
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NMLS Practice Test Hard Questions
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NMLS Practice Test Hard Questions and Answers | Latest Version | 2024/2025 | Already Passed
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NMLS Practice Test Hard Questions and 
Answers | Latest Version | 2024/2025 | 
 
Already Passed 
 
A buyer has made an earnest money payment of $5,000. The buyer pays an additional $2,000 in 
option money to be credited at closing on property with sale price of $160,000. If the required 
down payment is 20%, how much additional money will the buyer need to provide toward the 
down payment at closing? 
 
A.) $32,000 
B.) $27,000 
C.) $30,000 
D.) $25,000 D.) $25,000 
 
$160,000 x .20 (20%) = 3200...
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NMLS Practice Test Hard Questions with 100% Correct Answers
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NMLS Practice Test Hard Questions with 100% Correct Answers 
 
According to the Truth-in-Lending Act (TILA), which if the following fees is EXCLUDED from the calculation of the annual percentage rate? 
 
A.) Hazard insurance 
B.) Wire transfer 
C.) Prepaid interest 
D.) Mortgage insurance premiums - Answer-A.) Hazard insurance 
 
FHA loans are: 
 
A.) Partially guaranteed 
B.) 100% insured 
C.) Exempt 
D.) Entitled - Answer-A.) Partially guaranteed 
 
The late fee for a conventional loan is: 
 
...
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NMLS Practice Test Hard Questions with Complete Solutions
- Exam (elaborations) • 26 pages • 2023
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NMLS Practice Test Hard Questions with 
Complete Solutions 
A discount point is BEST described as a charge the borrower pays to: 
A.) A lender to decrease the interest rate on the mortgage loan 
B.) A mortgage broker at the time of application to obtain a favorable rate 
C.) The seller as part of the closing costs of a loan 
D.) A lender to ensure against foreclosure A.) A lender to decrease the interest rate on the 
mortgage loan 
A buyer has made an earnest money payment of $5,000. The buyer...
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NMLS Practice Test Hard Questions with correct answers
- Exam (elaborations) • 31 pages • 2023
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A discount point is BEST described as a charge the borrower pays to: 
 
A.) A lender to decrease the interest rate on the mortgage loan 
B.) A mortgage broker at the time of application to obtain a favorable rate 
C.) The seller as part of the closing costs of a loan 
D.) A lender to ensure against foreclosure Answer A.) A lender to decrease the interest rate on the mortgage loan 
 
A buyer has made an earnest money payment of $5,000. The buyer pays an additional $2,000 in option money to be cre...
And that's how you make extra money
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NMLS PRACTICE TEST EXAM PROFIENCY HARD QUESTIONS 2022- 2024 / NATIONWIDE MORTGAGE LICENSING SYSTEM PRACTICE TEST HARD QUESTIONS WITH CORRECT ANSWERS|53% AND ABOVE PASSRATE GUARANTEE
- Exam (elaborations) • 79 pages • 2023
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NMLS PRACTICE TEST EXAM PROFIENCY HARD QUESTIONS 2022- 
2024 / NATIONWIDE MORTGAGE LICENSING SYSTEM PRACTICE 
TEST HARD QUESTIONS WITH CORRECT ANSWERS|53% AND 
ABOVE PASSRATE GUARANTEE 
MUST NOT MISS 
 FEDERAL MORTGAGE RELATED LAW 
 UNIFORM STATE CONTENT 
 GENERAL MORTGAGE LAW 
 MORTGAGE LOAN ORIGINATION 
 ETHICS 
An annual escrow analysis is used to do which of the following? 
A. Ensure the loan is properly amortized 
B. Prevent escrow overages 
C. Reduce burden on the servi...
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NMLS Practice Test Hard Questions and Answers
- Exam (elaborations) • 30 pages • 2023
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A discount point is BEST described as a charge the borrower pays to: 
A.) A lender to decrease the interest rate on the mortgage loan 
B.) A mortgage broker at the time of application to obtain a favorable rate 
C.) The seller as part of the closing costs of a loan 
D.) A lender to ensure against foreclosure - answerA.) A lender to decrease the interest rate on the 
mortgage loan 
A buyer has made an earnest money payment of $5,000. The buyer pays an additional $2,000 in 
option money to ...
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NMLS Practice Test Hard Questions and answers 2023
- Exam (elaborations) • 27 pages • 2023
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NMLS Practice Test Hard Questions.
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NMLS Practice Test Hard Questions | 100% Correct Answers | Verified | Latest 2024 Version
- Exam (elaborations) • 27 pages • 2024
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A discount point is BEST described as a charge the borrower pays to: 
A.) A lender to decrease the interest rate on the mortgage loan 
B.) A mortgage broker at the time of application to obtain a favorable rate 
C.) The seller as part of the closing costs of a loan 
D.) A lender to ensure against foreclosure - A.) A lender to decrease the interest rate on the 
mortgage loan 
A buyer has made an earnest money payment of $5,000. The buyer pays an additional $2,000 in option 
money to be credited a...
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NMLS Practice Test Hard Questions & Answers, Graded A+/ LATEST UPDATE [ EXAM PREDICTION QUIZZES]
- Exam (elaborations) • 27 pages • 2024
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NMLS Practice Test Hard Questions & 
Answers, Graded A+ 
A discount point is BEST described as a charge the borrower pays to: 
A.) A lender to decrease the interest rate on the mortgage loan 
B.) A mortgage broker at the time of application to obtain a favorable rate 
C.) The seller as part of the closing costs of a loan 
D.) A lender to ensure against foreclosure - -A.) A lender to decrease the interest rate on the 
mortgage loan 
A buyer has made an earnest money payment of $5,000. The buyer...
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