Nmls Safe Mortgage Loan Originator Exam A+ Grade Assured Complete Solutions And Verified Answers

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NMLS CompuCram Test Questions 2026 A+ GRADE ASS
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URED COMPLETE SOLUTIONS AND VERIFIED ANSWERS
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(3C999)
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QUESTION 1 @x




A borrower signs the note and mortgage for a refinance on his principal residence o
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n Thursday, Dec. 31. What is the earliest day the funds for this loan could be disburs
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ed (assuming no bona fide financial hardship)?
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ANSWER

Wednesday, Jan. 6 @x @x




QUESTION 2 @x




Who manages the National Do Not Call Registry?
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ANSWER

Federal Trade Commission @x @x




QUESTION 3 @x




What federal legislation regulates credit reporting agencies and lenders concerning cr
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edit reporting?@x




ANSWER

FCRA



QUESTION 4 @x




What is not prohibited to be included in the loan terms for HOEPA covered items?
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ANSWER

late fees. @x

,QUESTION 5 @x




Commissions of real estate brokers or agents would be listed:
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ANSWER

In "Other"
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QUESTION 6 @x




A Loan Application Report is due by March 1st of each year as a result of the enactm
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ent of the@x @x




ANSWER

Home Mortgage Disclosure Act.
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QUESTION 7 @x




What action would not be considered "adverse action" according to the Fair Credit R
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eporting Act? @x




ANSWER

granting a mortgage loan based on the terms the consumer applied for
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QUESTION 8 @x




Which loans are not covered under HMDA?
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ANSWER

commercial loans @x




QUESTION 9 @x




A loan generally cannot be considered a qualified mortgage (QM) if the points and fe
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es paid by the consumer exceed _____ percent (%) of the total loan amount.
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ANSWER

3



QUESTION 10 @x




Which disclosure is not required by HOEPA?
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, ANSWER

right to credit score
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QUESTION 11 @x




According to the SAFE Act, which would be considered a task that would require som
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eone to be a licensed MLO?
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ANSWER

assisting a borrower in obtaining a mortgage loan by offering to negotiate terms with a lender.
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QUESTION 12 @x




The loan estimate must include the address of the property. If the address is unavail
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able, what must you use?
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ANSWER

a description of the location of the property
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QUESTION 13 @x




A borrower elects to lower his settlement costs by paying a slightly higher interest r
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ate. This appears on the Loan Estimate as a
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ANSWER

a credit to the borrower
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QUESTION 14 @x




What may be used to convert the construction loan into permanent financing?
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ANSWER

a modification agreement
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QUESTION 15 @x




Actual charges at settlement listed on the CD can increase more than 10% from the e
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stimates shown on the LE for what fee?
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ANSWER

Homeowners insurance @x