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Exam (elaborations)

MODULE 5 PRACTICE EXAM QUESTIONS AND CORRECT ANSWERS

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MODULE 5 PRACTICE EXAM QUESTIONS AND CORRECT ANSWERS

Institution
National And UST Mortgage
Course
National and UST Mortgage








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Written for

Institution
National and UST Mortgage
Course
National and UST Mortgage

Document information

Uploaded on
November 28, 2025
Number of pages
4
Written in
2025/2026
Type
Exam (elaborations)
Contains
Questions & answers

Subjects

  • module 5 practice exam questions and correct answe

Content preview

MODULE 5 PRACTICE EXAM
QUESTIONS AND CORRECT
ANSWERS
WhichA2ofA2theA2followingA2isA2responsibleA2forA2determiningA2whetherA2toA2issueA2aA2lice
nseA2approval?A2-A2Ans--TheA2commissioner

WhichA2ofA2theA2followingA2individualsA2performsA2clericalA2orA2supportA2dutiesA2asA2anA2e
mployeeA2atA2theA2directionA2ofA2aA2licensedA2orA2exemptA2institution?A2-A2Ans--
AA2loanA2processor

LoanA2originatorsA2areA2requiredA2toA2completeA2________A2hoursA2ofA2pre-
licensingA2educationA2toA2satisfyA2theA2federalA2requirementA2underA2theA2SAFEA2actA2-
A2Ans--20


AA2loanA2originatorA2licenseA2isA2validA2forA2______A2yearA2-A2Ans--one

EstateA2licenseA2loanA2originatorA2is:A2-A2Ans--
NotA2anA2employeeA2ofA2aA2depositoryA2institution

TheA2minimumA2standardsA2forA2licenseA2renewalA2includeA2allA2butA2whichA2ofA2theA2follo
wing?A2-A2Ans--AA2productionA2reportA2forA2allA2licensedA2originator's

UnderA2theA2SAFEA2act,A2statesA2areA2requiredA2toA2doA2backgroundA2checksA2asA2partA2
ofA2theirA2effectiveA2supervision.A2AA2backgroundA2checkA2includesA2allA2theA2following,A2e
xcept:A2-A2Ans--EducationA2history

UponA2meetingA2allA2theA2requirementsA2andA2beingA2approvedA2byA2herA2stateA2forA2licen
singA2asA2aA2loanA2originator,A2KellyA2GreenA2wasA2assignedA2aA2numberA2thatA2permane
ntlyA2identifiedA2herA2asA2aA2loanA2originator.A2ThisA2numberA2isA2herA2-A2Ans--
UniqueA2identifier

JimA2worksA2inA2aA2stateA2thatA2requiresA2aA2mortgageA2loanA2originatorA2beA2coveredA2by
A2suretyA2bond.A2TheA2bondA2mustA2beA2maintainedA2inA2anA2amountA2thatA2reflects:A2-
A2Ans--DollarA2valueA2ofA2loansA2JimA2originatesA2annually


OnceA2aA2stateA2licensingA2agencyA2hasA2providedA2privateA2orA2confidentialA2information
A2toA2theA2endA2MLS,A2whatA2isA2theA2statusA2ofA2theA2information?A2-A2Ans--
PrivacyA2andA2confidentialityA2requirementsA2continueA2toA2apply

PamelaA2tookA2theA2NMLSA2approvedA2licensingA2testA2forA2theA2secondA2timeA2andA2rece
ivedA2aA2scoreA2ofA274%.A2WhatA2isA2theA2resultA2ofA2Pamela'sA2attemptA2-A2Ans--
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