CRMP Exam Prep: 400 Practice Questions & Explained Answers (NRMLA)

2026 UPDATED QUESTIONS DOWNLOAD




CRMP Exam Prep: 400 Practice Questions for the NRMLA Certified
Reverse Mortgage Professional Test – Fully Explained Answers

Question 1
What is the minimum age requirement for all borrowers on a HECM loan?
A) 55
B) 62
C) 65
D) 70

*Rationale: HUD requires all borrowers listed on the title for a HECM to be at least 62 years old.
Option B is correct.




Question 2
Which entity insures the Home Equity Conversion Mortgage (HECM) program?
A) USDA
B) VA
C) FHA
D) FNMA

*Rationale: The Federal Housing Administration (FHA) insures HECM reverse mortgages. Option
C is correct.




Question 3
A borrower has a HECM with a $300,000 maximum claim amount. The upfront MIP is:
A) $3,000
B) $4,500

, 2026 UPDATED QUESTIONS DOWNLOAD


C) $6,000
D) $9,000

*Rationale: *Upfront MIP is 2.0% of the maximum claim amount ($300,000 × 0.02 = $6,000).
Option C is correct.*




Question 4
Under HECM financial assessment, a history of property tax delinquencies within the last ______
years is a red flag.
A) 1
B) 2
C) 3
D) 5

*Rationale: HUD looks for property tax delinquencies in the last 2 years as part of financial
assessment. Option B is correct.




Question 5
Which payment plan provides monthly payments for a fixed period of time?
A) Tenure
B) Term
C) Lump sum
D) Modified tenure

*Rationale: Term payments are for a fixed number of months; tenure lasts for life. Option B is
correct.

, 2026 UPDATED QUESTIONS DOWNLOAD


Question 6
A non-borrowing spouse (NBS) is protected under HECM rules only if:
A) They are under age 62
B) They were married to the borrower at loan closing and remain married
C) They are added to the loan after closing
D) They have power of attorney

*Rationale: NBS protection requires marriage at closing and continued marriage. Option B is
correct.




Question 7
The HECM counseling session must be conducted by:
A) The lender
B) The real estate agent
C) A HUD-approved independent counselor
D) The title company

*Rationale: HUD mandates independent counseling from a HUD-approved agency before
application. Option C is correct.




Question 8
Which of the following is NOT a required property charge under HECM rules?
A) Property taxes
B) Homeowner's insurance
C) Mortgage payment
D) Flood insurance (if in flood zone)

*Rationale: Mortgage payments are not required because HECM has no monthly mortgage
payment. Taxes, insurance, and flood insurance are required. Option C is correct.

, 2026 UPDATED QUESTIONS DOWNLOAD




Question 9
A borrower receives a HECM line of credit. The unused portion will:
A) Decrease annually
B) Remain static
C) Grow at the same rate as the loan interest rate plus MIP
D) Be forfeited after 5 years

*Rationale: *The HECM line of credit grows over time at (interest rate + 0.5% MIP). Option C is
correct.*




Question 10
What is the maximum origination fee allowed on a HECM for a maximum claim amount of
$400,000?
A) $2,500
B) $6,000
C) $4,000
D) $10,000

*Rationale: *Origination fee is the lesser of 2% of first $200,000 plus 1% of excess, capped at
$6,000. For $400,000: $4,000 + $2,000 = $6,000. Option B is correct.*




Question 11
If a HECM borrower moves into an assisted living facility for medical reasons, the loan becomes
due after:
A) 6 months
B) 12 months
C) 18 months
D) 24 months