California State NMLS Practice Test Questions and Answers |Fall 2025/2026 Update | 100% Correct

California State NMLS Practice Test Questions and Answers
|Fall 2025/2026 Update | 100% Correct
Question 1
A foreclosure consultant may not charge a fee in which exceeds ___ percent per annum of a loan which the consultant
makes to the owner.
Answers

A. 10%

B. 20%

C. 3%

D. 5%

Correct Answer
A.




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,Question 2
How long do you have to notify the Department of Real Estate or the DRE if you change the address of the location?
Answers

A. Immediately (no later than the next business day)

B. Thirty (30) days


C. Ninety (90) days

D. Seven (7) business days
Correct Answer
A




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,Question 3
A mortgagee must execute a certificate of the discharge of a mortgage and record it in the county in which the mortgage
is recorded within how many days after the mortgage has been satisfied?
Answers

A. Thirty (30) days

B. Sixty (60) days

C. Ninety (90) days

D. One hundred twenty (120) days
Correct Answer
A.




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, Question 4
Mortgage loan originators are required to __________ and make reasonable efforts to procure a mortgage loan on behalf of
the borrower.
Answers

A. Collect a fee.

B. Sign a contract

C. Use due diligence

D. Send a disclosure
Correct Answer
C.




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