Nmls Safe Mortgage Loan Originator Exam A+ Grade Assured Complete Solutions And Verified Answers

NMLS EXAM +t




Exam Solution +t




Cartões: safe mlo exam 225 2026 A+ GRADE ASSURED C +t +t +t +t +t +t +t +t +t




OMPLETE SOLUTIONS AND VERIFIED ANSWERS (B2EF3 +t +t +t +t +t




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QUESTION 1 +t




If a consumer believes that information on a credit report is inaccurate, what must the c
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redit bureau do? +t +t



A. Notify any lender of the alleged discrepancy
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B. Confirm and remove inaccurate information within 30 days
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C. Provide a credit score at no charge
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D. Prevent creditors from accessing the report
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ANSWER

B



QUESTION 2 +t




A lender that is transferring the servicing of a loan to another lender must provide the S
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ervicing Transfer Disclosure within what timeframe?
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A. 3 business days before the transfer
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B. 3 business days after the transfer
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C. 15 business days before the transfer
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D. 15 business days after the transfer
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ANSWER

C



QUESTION 3 +t




Although some exceptions apply, in general, overtime income should be in order to be u
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sed for qualifying purposes:
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A. Averaged over the past 18 months
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B. Averaged over the past 2 years
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,C. Used as a compensating factor only
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D. Received for more than 1 year
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ANSWER

B



QUESTION 4 +t




Under RESPA, when is it acceptable for a property seller to condition a sale on the buyer
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's use of a specific title company?
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A. When full disclosure is provided
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B. Under no circumstances
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C. When the property contains more than one dwelling unit
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D. When the loan amount exceeds the conforming loan limit
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ANSWER

B



QUESTION 5 +t




If a consumer disputes an item on his/her credit report that they believe to be inaccurat
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e, the dispute must be investigated by the bureau(s) and any inaccurate, incomplete or u
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nverifiable information must be removed within: +t +t +t +t +t



A. 15 days
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B. 30 days
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C. 45 days
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D. 60 days
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ANSWER

B



QUESTION 6 +t




In certain flood hazard areas, flood insurance may not be available because:
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A. individuals cannot afford it
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B. the community does not participate in the National Flood Insurance Program
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C. the National Flood Insurance Program has rejected the community for lack of funds
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D. the community has not flooded within the last five years
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ANSWER

B



QUESTION 7 +t

,The document that determines the sales price for a property is called the:
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A. Appraisal report
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B. Commitment letter
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C. Sales contract
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D. Truth in Lending disclosure
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ANSWER

C



QUESTION 8 +t




Before the MLO Compensation rule took effect, mortgage brokers were often able to incr
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ease their compensation by providing borrowers with a higher interest rate than that fo
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r which they qualified. Such compensation was referred to as:
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A. Lender-paid compensation
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B. Service-release premium
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C. Double-dipping
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D. Yield-spread premium
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ANSWER

D



QUESTION 9 +t




If a loan is neither insured nor guaranteed by the Federal Government, it is referred to a
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s a:
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A. FHA loan
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B. HELOC
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C. Conforming loan
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D. Conventional loan
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ANSWER

D



QUESTION 10 +t




Which federal agency is responsible for writing and promulgating the rules contained in
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Regulation X? +t



A. CFPB
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B. HUD+t



C. FTC+t



D. FCC+t




ANSWER

, A



QUESTION 11 +t




Which factor must be considered when evaluating a borrower's ability to repay a higher-
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priced mortgage loan?
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A. The borrower's debt-to-income ratio
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B. The borrower's plans to start a family
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C. The lender's desire to retain servicing
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D. The borrower's ancestry
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ANSWER

A



QUESTION 12 +t




PMI protects:
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A. the public
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B. the mortgagor
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C. the mortgagee
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D. the seller
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ANSWER

C



QUESTION 13 +t




Which of the following is typically not required in a gift letter?
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A. A statement that the money is not a loan
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B. The donor's relationship to the recipient
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C. The amount of the gift
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D. The donor's Social Security number
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ANSWER

D



QUESTION 14 +t




Which type of mortgage loan lets the borrower make regular monthly payments for a pe
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riod of time and then requires one larger payment upon maturity?
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A. Jumbo loan
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B. Balloon loan
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C. Alt-A loan
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D. Subprime loan
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