NMLS Test Prep CompuCram Test EXAM 2025/2026 ACTUAL
COMPLETE REAL EXAM QUESTIONS WITH CORRECT
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED
A+/ 2025.
If you use this calculation while evaluating income, "PITI
divided by Gross Monthly Income," you have just determined
what? - ANSWER-housing expense ratio
Ann will make a 20% down payment on her $85,000 purchase.
Her loan amount
will be what? - ANSWER-
$68,000
There is a _____ waiting period once the Loan Estimate is
provided to the
borrower before closing a home loan. - ANSWER-7
business day
Which question would not be considered a violation of the
ECOA, even if asked
very innocently during the loan interview process? -
ANSWER-You look very
,young; can I see some proof of
your age?
Which regulation provides guidelines and restrictions on the
process of renting,
financing, and selling properties? - ANSWER-Fair
Housing Act
The Financial Services Modernization Act of 1999 is more
commonly known as
the what? - ANSWER-Gramm-Leach-
Bliley Act.
The Fair Housing Act requires a lender to use what term in any
advertisement
broadcast over the airwaves? - ANSWER-Equal
Housing Lender
The annual percentage rate (APR) is the what? -
ANSWER-relationship
between the total cost of borrowing and the actual
amount borrowed.
A written or electronically transmitted confirmation issued to a
mortgage applicant prior to the issuance of a first loan
, mortgage commitment, number of points, or variable rate terms
which will be the rate, number of points, or variable rate terms
at which the lender will make the loan, provided that the first
mortgage loan is closed by a specified date and that the
applicant qualifies for the loan is referred to as - ANSWER-
mortgage rate lock-in
What is not a protected class recognized by the Fair Housing
Act? - ANSWER-
receipt of income from a public
source
Who investigates mortgage fraud in the United States? -
ANSWER-FBI
What law prohibits discrimination in the sale and rental of a
residential property
on the basis of race, color, religion, handicap, sex, familial
status or national
origin? - ANSWER-Fair
Housing Act
A for-profit MLO who claims to be a "counselor" in an ad about
loan modification
COMPLETE REAL EXAM QUESTIONS WITH CORRECT
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED
A+/ 2025.
If you use this calculation while evaluating income, "PITI
divided by Gross Monthly Income," you have just determined
what? - ANSWER-housing expense ratio
Ann will make a 20% down payment on her $85,000 purchase.
Her loan amount
will be what? - ANSWER-
$68,000
There is a _____ waiting period once the Loan Estimate is
provided to the
borrower before closing a home loan. - ANSWER-7
business day
Which question would not be considered a violation of the
ECOA, even if asked
very innocently during the loan interview process? -
ANSWER-You look very
,young; can I see some proof of
your age?
Which regulation provides guidelines and restrictions on the
process of renting,
financing, and selling properties? - ANSWER-Fair
Housing Act
The Financial Services Modernization Act of 1999 is more
commonly known as
the what? - ANSWER-Gramm-Leach-
Bliley Act.
The Fair Housing Act requires a lender to use what term in any
advertisement
broadcast over the airwaves? - ANSWER-Equal
Housing Lender
The annual percentage rate (APR) is the what? -
ANSWER-relationship
between the total cost of borrowing and the actual
amount borrowed.
A written or electronically transmitted confirmation issued to a
mortgage applicant prior to the issuance of a first loan
, mortgage commitment, number of points, or variable rate terms
which will be the rate, number of points, or variable rate terms
at which the lender will make the loan, provided that the first
mortgage loan is closed by a specified date and that the
applicant qualifies for the loan is referred to as - ANSWER-
mortgage rate lock-in
What is not a protected class recognized by the Fair Housing
Act? - ANSWER-
receipt of income from a public
source
Who investigates mortgage fraud in the United States? -
ANSWER-FBI
What law prohibits discrimination in the sale and rental of a
residential property
on the basis of race, color, religion, handicap, sex, familial
status or national
origin? - ANSWER-Fair
Housing Act
A for-profit MLO who claims to be a "counselor" in an ad about
loan modification
