NMLS EXAM Questions
and Answers Updated
2026
RegBCB-BAnswerHMDAB(HomeBMortgageBDisclosureBAct)
WhyBwereBHMDABlawsBwritten?B-
BAnswerLawsBwereBwrittenBinBresponseBtoBtheBpublicBconcernsBthatBlendersBwereB"re
dlining"
UnderBHMDABhowBoftenBdoBinstitutionsBneedBtoBreportBpublicBloanBdata?BRegardingB
whatBkindBofBdata?B-
BAnswerAnnually,BreportsBdueBeveryByearBinBMarch.BDataBisBinBregardsBtoBethnicity,Bra
ce,BandBsexBofBALLBapplicants.
WhatBisBtheBlogBofBapplicantsBthatBaBcreditorBmustBkeepBandBprovideBtoBtheBfederalB
gov?BHowBlongBmustBtheyBbeBmaintained?B-
BAnswerLoanBApplicantBRegisterB(LAR).B3BYears.
HMDABdataBmustBbeBmaintainedBandBavailableBuponBrequestBforBhowBmanyByears?B-
BAnswer3BYears
WhatBisBtheBcommunityBreinvestmentBactB(CRA)?B-
BAnswerRegulationBtoBhelpBmeetBcreditBneedsBofBcommunities
FederalBFinancialBInstitutionsBExaminationBCouncilB(FFIEC)B-
BAnswerComposedBofB5BbankingBregulators.BCompilesBinformationBasBindividualBdisclos
ureBstatementsBforBEACHBinstitutionBinBtheBformBofBaggregateBreports.
, Gramm-Leach-BlileyBActB(GLBA)B-
BAnswerProvisionsBtoBprotectBconsumer'sBpersonalBfinancialBinformationBheldBbyBfinanc
ialBinstitutions
AnotherBnameBforBGLBAB-
BAnswerFinancialBServicesBModernizationBActBofB1999B(FSMA)
WhatBmustBaBborrowerBreceiveBatBfirstBcontact,BthenByearlyBifBtheyBareBaBremainingBc
ustomer?B-BAnswerPrivateBPolicyBNotice
WhatBrightBdoBcustomersBhaveBunderBtheBGLBABregardingBtheirBinformation?B-
BAnswerRightBtoBoptBoutBofBhavingBinfoBsharedBwithBcertainBthirdBparties
WhatBdoesBSPFBstandBforBunderBGLBA?B-
BAnswerSafeguardingBpolicies,BPretextingBpolicies,BFinancialBPrivacyBpolicies
SafeguardingB-
BAnswerPolicyBhowBcompaniesBkeepBourBcreditBcardsBandBinfoBsafeBwhenBusedBatBthe
irBcompany
PretextingB-
BAnswerKeepBothersBfromBgettingBaccessBtoBinformationBunderBfalseBpretensesB"PREte
nders"
FinancialBPrivacyB-BAnswerPolicyBthatBgovernsBcollectionBofBnon-
publicBinfoBandBhowBitsBsharedBwithBaffiliates.B(optBinBandBoptBout)
GLBABdifferenceBbetweenBaBconsumerBandBaBcustomerB-
BAnswerConsumerBisBanBindividualBwhoBhasBobtainedBaBfinancialBproductBorBservice.B
ABcustomerBisBaBconsumerBwithBaBcontinuingBrelationshipBwithBtheBfinancialBinstitutio
n.
and Answers Updated
2026
RegBCB-BAnswerHMDAB(HomeBMortgageBDisclosureBAct)
WhyBwereBHMDABlawsBwritten?B-
BAnswerLawsBwereBwrittenBinBresponseBtoBtheBpublicBconcernsBthatBlendersBwereB"re
dlining"
UnderBHMDABhowBoftenBdoBinstitutionsBneedBtoBreportBpublicBloanBdata?BRegardingB
whatBkindBofBdata?B-
BAnswerAnnually,BreportsBdueBeveryByearBinBMarch.BDataBisBinBregardsBtoBethnicity,Bra
ce,BandBsexBofBALLBapplicants.
WhatBisBtheBlogBofBapplicantsBthatBaBcreditorBmustBkeepBandBprovideBtoBtheBfederalB
gov?BHowBlongBmustBtheyBbeBmaintained?B-
BAnswerLoanBApplicantBRegisterB(LAR).B3BYears.
HMDABdataBmustBbeBmaintainedBandBavailableBuponBrequestBforBhowBmanyByears?B-
BAnswer3BYears
WhatBisBtheBcommunityBreinvestmentBactB(CRA)?B-
BAnswerRegulationBtoBhelpBmeetBcreditBneedsBofBcommunities
FederalBFinancialBInstitutionsBExaminationBCouncilB(FFIEC)B-
BAnswerComposedBofB5BbankingBregulators.BCompilesBinformationBasBindividualBdisclos
ureBstatementsBforBEACHBinstitutionBinBtheBformBofBaggregateBreports.
, Gramm-Leach-BlileyBActB(GLBA)B-
BAnswerProvisionsBtoBprotectBconsumer'sBpersonalBfinancialBinformationBheldBbyBfinanc
ialBinstitutions
AnotherBnameBforBGLBAB-
BAnswerFinancialBServicesBModernizationBActBofB1999B(FSMA)
WhatBmustBaBborrowerBreceiveBatBfirstBcontact,BthenByearlyBifBtheyBareBaBremainingBc
ustomer?B-BAnswerPrivateBPolicyBNotice
WhatBrightBdoBcustomersBhaveBunderBtheBGLBABregardingBtheirBinformation?B-
BAnswerRightBtoBoptBoutBofBhavingBinfoBsharedBwithBcertainBthirdBparties
WhatBdoesBSPFBstandBforBunderBGLBA?B-
BAnswerSafeguardingBpolicies,BPretextingBpolicies,BFinancialBPrivacyBpolicies
SafeguardingB-
BAnswerPolicyBhowBcompaniesBkeepBourBcreditBcardsBandBinfoBsafeBwhenBusedBatBthe
irBcompany
PretextingB-
BAnswerKeepBothersBfromBgettingBaccessBtoBinformationBunderBfalseBpretensesB"PREte
nders"
FinancialBPrivacyB-BAnswerPolicyBthatBgovernsBcollectionBofBnon-
publicBinfoBandBhowBitsBsharedBwithBaffiliates.B(optBinBandBoptBout)
GLBABdifferenceBbetweenBaBconsumerBandBaBcustomerB-
BAnswerConsumerBisBanBindividualBwhoBhasBobtainedBaBfinancialBproductBorBservice.B
ABcustomerBisBaBconsumerBwithBaBcontinuingBrelationshipBwithBtheBfinancialBinstitutio
n.