1
MLO MOCK EXAM QUESTIONS WITH 100%
VERIFIED SOLUTIONS ALREADY PASSED!!
可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
1. A mortgage loan originator must provide the Loan Estimate to the consumer:
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
(a) No later than the third business day after the date of the consumer's
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
application.
(b) No later than the three-business day before consummation of the
transaction.
(c) No later than the third business day after the creditor receives the
consumer's application for a mortgage loan.
(d) At the first substantial meeting with the consumer. - (answer)(c) No later
than the third business day after the creditor receives the consumer's
application for a mortgage loan.
2. The Gramm-Leach-Bliley Act requires financial institutions to provide
consumers with a notice of their information-sharing policies. Which of the
following is not an acceptable means of providing the required privacy notice?
(a) Mail
(b) Posting notice in on an office wall
(c) Email
(d) Fax - (answer)(b) Posting notice in on an office wall
3. After a loan closing, funds are disbursed. When are the funds disbursed for
an owner-occupied residential refinance?
, 2
(a) After the three business-day rescission period.
(b) At 可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
the time of the loan closing.
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
(c) Five少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
business days after the closing.
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
(d) After the three-day rescission period. - (answer)(a) After the three
business-day rescission period.
4. Violations of Section 8's anti-kickback, referral fees, and unearned fees
provisions of RESPA are subject to criminal and civil penalties. In a criminal
case, a person who violates Section 8 may be fined up and imprisoned:
(a) Up to $5,000 and up to 1 year in prison.
(b) Up to $10,000 and up to 1 year in prison.
(c) Up to $10,000 and up to 2-99 years in prison.
(d) Up to $1,000,000 and up to 30 years in prison. - (answer)(b) Up to $10,000
and up to 1 year in prison.
5. Which of the following allows a prepayment penalty during the first three
years after the loan is consummated?
(a) Qualified Mortgage Loan
(b) FHA Mortgage Loan
(c) Higher-Priced Mortgage Loan
(d) Home Ownership and Equity Protection Act Loan - (answer)(d) Home
Ownership and Equity Protection Act Loan
, 3
6. The可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
URLA divides the application into five different forms. Which of the
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
following is not one of the five forms that make up the URLA?
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
(a) Uniform Residential Loan Application-Additional Borrower
(b) Uniform Residential Loan Application-Continuation Sheet
(c) Uniform Residential Loan Application-Information for Government
Monitoring Purposes
(d) Uniform Residential Loan Application-Unmarried Addendum - (answer)(c)
Uniform Residential Loan Application-Information for Government Monitoring
Purposes
7. Which is NOT a purpose for the Mortgage Servicing Disclosure Statement?
(a) That the consumer will be given advanced notice before a transfer occurs
(b) To inform the consumer that they are applying for a mortgage loan covered
by RESPA
(c) To inform the consumer of the likelihood that the mortgage could be sold in
the secondary market
(d) To inform the consumer of the likelihood that the servicing of the mortgage
will be sold, transferred, or assigned - (answer)(c) To inform the consumer of
the likelihood that the mortgage could be sold in the secondary market
, 4
8. A Latina applies to a mortgage company for a home loan. She is refused
based可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
on the neighborhood's reputation for a high number of foreclosures.
This is、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
an example of what illegal practice?
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
(a) Blockbusting
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
(b) Puffing
(c) Redlining
(d) Steering - (answer)(c) Redlining
9. As defined by the S.A.F.E. Mortgage Licensing Act of 2008, all the following
mortgage products are considered non-traditional mortgage products except:
(a) Balloon Mortgages.
(b) Adjustable-Rate Mortgages.
(c) FHA Mortgages.
(d) 30-year Fixed-Rate Mortgages. - (answer)(d) 30-year Fixed-Rate Mortgages
10. Which Act amended the Truth in Lending Act, establishing disclosure
requirements and prohibiting equity stripping and other abusive practices in
connection with "high-cost" mortgages?
(a) Community Reinvestment Act (CRA)
(b) Home Mortgage Disclosure Act (HMDA)
(c) Home Ownership and Equity Protection Act (HOEPA)
MLO MOCK EXAM QUESTIONS WITH 100%
VERIFIED SOLUTIONS ALREADY PASSED!!
可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
1. A mortgage loan originator must provide the Loan Estimate to the consumer:
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
(a) No later than the third business day after the date of the consumer's
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
application.
(b) No later than the three-business day before consummation of the
transaction.
(c) No later than the third business day after the creditor receives the
consumer's application for a mortgage loan.
(d) At the first substantial meeting with the consumer. - (answer)(c) No later
than the third business day after the creditor receives the consumer's
application for a mortgage loan.
2. The Gramm-Leach-Bliley Act requires financial institutions to provide
consumers with a notice of their information-sharing policies. Which of the
following is not an acceptable means of providing the required privacy notice?
(a) Mail
(b) Posting notice in on an office wall
(c) Email
(d) Fax - (answer)(b) Posting notice in on an office wall
3. After a loan closing, funds are disbursed. When are the funds disbursed for
an owner-occupied residential refinance?
, 2
(a) After the three business-day rescission period.
(b) At 可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
the time of the loan closing.
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
(c) Five少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
business days after the closing.
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
(d) After the three-day rescission period. - (answer)(a) After the three
business-day rescission period.
4. Violations of Section 8's anti-kickback, referral fees, and unearned fees
provisions of RESPA are subject to criminal and civil penalties. In a criminal
case, a person who violates Section 8 may be fined up and imprisoned:
(a) Up to $5,000 and up to 1 year in prison.
(b) Up to $10,000 and up to 1 year in prison.
(c) Up to $10,000 and up to 2-99 years in prison.
(d) Up to $1,000,000 and up to 30 years in prison. - (answer)(b) Up to $10,000
and up to 1 year in prison.
5. Which of the following allows a prepayment penalty during the first three
years after the loan is consummated?
(a) Qualified Mortgage Loan
(b) FHA Mortgage Loan
(c) Higher-Priced Mortgage Loan
(d) Home Ownership and Equity Protection Act Loan - (answer)(d) Home
Ownership and Equity Protection Act Loan
, 3
6. The可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
URLA divides the application into five different forms. Which of the
、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
following is not one of the five forms that make up the URLA?
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
(a) Uniform Residential Loan Application-Additional Borrower
(b) Uniform Residential Loan Application-Continuation Sheet
(c) Uniform Residential Loan Application-Information for Government
Monitoring Purposes
(d) Uniform Residential Loan Application-Unmarried Addendum - (answer)(c)
Uniform Residential Loan Application-Information for Government Monitoring
Purposes
7. Which is NOT a purpose for the Mortgage Servicing Disclosure Statement?
(a) That the consumer will be given advanced notice before a transfer occurs
(b) To inform the consumer that they are applying for a mortgage loan covered
by RESPA
(c) To inform the consumer of the likelihood that the mortgage could be sold in
the secondary market
(d) To inform the consumer of the likelihood that the servicing of the mortgage
will be sold, transferred, or assigned - (answer)(c) To inform the consumer of
the likelihood that the mortgage could be sold in the secondary market
, 4
8. A Latina applies to a mortgage company for a home loan. She is refused
based可以！可以！请告诉我您需要写什么主题的中文作文，是写故事
on the neighborhood's reputation for a high number of foreclosures.
This is、议论文、记叙文，还是其他类型？另外，作文的字数要求是多
an example of what illegal practice?
少呢？请告诉我您需要写什么主题的中文作文，是写故事、议论
(a) Blockbusting
文、记叙文，还是其他类型？另外，作文的字数要求是多少呢？
(b) Puffing
(c) Redlining
(d) Steering - (answer)(c) Redlining
9. As defined by the S.A.F.E. Mortgage Licensing Act of 2008, all the following
mortgage products are considered non-traditional mortgage products except:
(a) Balloon Mortgages.
(b) Adjustable-Rate Mortgages.
(c) FHA Mortgages.
(d) 30-year Fixed-Rate Mortgages. - (answer)(d) 30-year Fixed-Rate Mortgages
10. Which Act amended the Truth in Lending Act, establishing disclosure
requirements and prohibiting equity stripping and other abusive practices in
connection with "high-cost" mortgages?
(a) Community Reinvestment Act (CRA)
(b) Home Mortgage Disclosure Act (HMDA)
(c) Home Ownership and Equity Protection Act (HOEPA)
