NMLS Test Prep CompuCram Test Questions and Answers Updated 2026

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NMLS Test Prep CompuCram Test Questions and Answers Updated 2026

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NMLS Test Prep CompuCram Test Questions and Answers Updated 2026

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NMLS Test Prep CompuCram
Test Questions and Answers
Updated 2026
ABborrowerBsignsBtheBnoteBandBmortgageBforBaBrefinanceBonBhisBprincipalBresidenceB
onBThursday,BDec.B31.BWhatBisBtheBearliestBdayBtheBfundsBforBthisBloanBcouldBbeBdisb
ursedB(assumingBnoBbonaBfideBfinancialBhardship)?B-BAnswerWednesday,BJan.B6

WhoBmanagesBtheBNationalBDoBNotBCallBRegistry?B-BAnswerFederalBTradeBCommission

WhatBfederalBlegislationBregulatesBcreditBreportingBagenciesBandBlendersBconcerningBcr
editBreporting?B-BAnswerFCRA

WhatBisBnotBprohibitedBtoBbeBincludedBinBtheBloanBtermsBforBHOEPABcoveredBitems?B
-BAnswerlateBfees.

CommissionsBofBrealBestateBbrokersBorBagentsBwouldBbeBlisted:B-BAnswerInB"Other"

ABLoanBApplicationBReportBisBdueBbyBMarchB1stBofBeachByearBasBaBresultBofBtheBena
ctmentBofBtheB-BAnswerHomeBMortgageBDisclosureBAct.

WhatBactionBwouldBnotBbeBconsideredB"adverseBaction"BaccordingBtoBtheBFairBCreditB
ReportingBAct?B-
BAnswergrantingBaBmortgageBloanBbasedBonBtheBtermsBtheBconsumerBappliedBfor

WhichBloansBareBnotBcoveredBunderBHMDA?B-BAnswercommercialBloans

ABloanBgenerallyBcannotBbeBconsideredBaBqualifiedBmortgageB(QM)BifBtheBpointsBandB
feesBpaidBbyBtheBconsumerBexceedB_____BpercentB(%)BofBtheBtotalBloanBamount.B-
BAnswer3

, WhichBdisclosureBisBnotBrequiredBbyBHOEPA?B-BAnswerrightBtoBcreditBscore

AccordingBtoBtheBSAFEBAct,BwhichBwouldBbeBconsideredBaBtaskBthatBwouldBrequireBso
meoneBtoBbeBaBlicensedBMLO?B-
BAnswerassistingBaBborrowerBinBobtainingBaBmortgageBloanBbyBofferingBtoBnegotiateBt
ermsBwithBaBlender.

TheBloanBestimateBmustBincludeBtheBaddressBofBtheBproperty.BIfBtheBaddressBisBunavai
lable,BwhatBmustByouBuse?B-BAnsweraBdescriptionBofBtheBlocationBofBtheBproperty

ABborrowerBelectsBtoBlowerBhisBsettlementBcostsBbyBpayingBaBslightlyBhigherBinterestBr
ate.BThisBappearsBonBtheBLoanBEstimateBasBaB-BAnsweraBcreditBtoBtheBborrower

WhatBmayBbeBusedBtoBconvertBtheBconstructionBloanBintoBpermanentBfinancing?B-
BAnsweraBmodificationBagreement

ActualBchargesBatBsettlementBlistedBonBtheBCDBcanBincreaseBmoreBthanB10%BfromBthe
BestimatesBshownBonBtheBLEBforBwhatBfee?B-BAnswerHomeownersBinsurance

TheBloanBrequestedBdividedBbyBtheBtotalBcostBofBtheBprojectBisBreferredBtoBasBtheBwh
at?B-BAnswerloanBtoBcost

WhichBfinancialBarrangementBisBexemptBfromBtheBRealBEstateBSettlementBProceduresBA
ct?B-BAnswerBridgeBloans

ABCBMortgageBCompanyBhasBbeenBaccusedBofBinappropriatelyBcallingBtwoBconsumersB
onBtheBNationalBDoBNoBCallBRegistry.BWhatBisBtheBfineBABCBcouldBincurBforBthis?B-
BAnswer$80,000

WhenBmustBaBre-certificationBofBvalueBbeBperformed?B-BAnswer120Bdays

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Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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