20 Hour SAFE Comprehensive A – Mortgage Licensing Course
– Practice Exam with Accurate Questions & Answers (Verified
Answers) and Study Guide | Latest (2026/2027) Updated
Version | 100% Guaranteed Pass {JUST RELEASED}
1. If the lender determines, at any time during the life of a loan, that the property
securing the loan is located in a special flood hazard area and is not covered by
flood insurance, then
the lender must accelerate its payment schedule.
the lender must cancel its insurance requirement.
the lender may force place the insurance coverage if the borrower does not
promptly purchase it.
the lender must foreclose. - ANSWER ✓ the lender may force place the insurance
coverage if the borrower does not promptly purchase it.
2. Which of the following determines whether flood insurance is required for a
particular property?
The title company
The lender
The appraiser
FEMA - ANSWER ✓ The lender
,3. Which document advises the consumer not to provide false information in
relation to his loan application?
The HUD special information booklet
The Loan Estimate
The ECOA adverse action notice
The Closing Disclosure - ANSWER ✓ The HUD special information booklet
4. Which of the following in an ad for residential mortgage financing would
trigger additional disclosures?
"5.75% APR"
"VA financing available"
"Affordable payments"
"5% down payment" - ANSWER ✓ "5% down payment"
5. The primary purpose of the Truth in Lending Act is to
limit settlement costs.
ensure equal credit opportunity.
, limit consumer interest rates.
ensure consumers are given disclosures of credit terms. - ANSWER ✓ ensure
consumers are given disclosures of credit terms.
6. Form 1003 is which of the following?
The Loan Estimate
The Summary Statement
The Closing Disclosure
The Uniform Residential Loan Application - ANSWER ✓ The Uniform
Residential Loan Application
7. Foreclosure is initiated on a consumer's principal dwelling that secures a credit
obligation. At this time, the finance charge and other disclosures affected by the
finance charge are considered accurate if they are above the amount required to
be disclosed or if they are understated by no more than
$35.00
$200.00
$50.00
$100.00 - ANSWER ✓ 200.00
– Practice Exam with Accurate Questions & Answers (Verified
Answers) and Study Guide | Latest (2026/2027) Updated
Version | 100% Guaranteed Pass {JUST RELEASED}
1. If the lender determines, at any time during the life of a loan, that the property
securing the loan is located in a special flood hazard area and is not covered by
flood insurance, then
the lender must accelerate its payment schedule.
the lender must cancel its insurance requirement.
the lender may force place the insurance coverage if the borrower does not
promptly purchase it.
the lender must foreclose. - ANSWER ✓ the lender may force place the insurance
coverage if the borrower does not promptly purchase it.
2. Which of the following determines whether flood insurance is required for a
particular property?
The title company
The lender
The appraiser
FEMA - ANSWER ✓ The lender
,3. Which document advises the consumer not to provide false information in
relation to his loan application?
The HUD special information booklet
The Loan Estimate
The ECOA adverse action notice
The Closing Disclosure - ANSWER ✓ The HUD special information booklet
4. Which of the following in an ad for residential mortgage financing would
trigger additional disclosures?
"5.75% APR"
"VA financing available"
"Affordable payments"
"5% down payment" - ANSWER ✓ "5% down payment"
5. The primary purpose of the Truth in Lending Act is to
limit settlement costs.
ensure equal credit opportunity.
, limit consumer interest rates.
ensure consumers are given disclosures of credit terms. - ANSWER ✓ ensure
consumers are given disclosures of credit terms.
6. Form 1003 is which of the following?
The Loan Estimate
The Summary Statement
The Closing Disclosure
The Uniform Residential Loan Application - ANSWER ✓ The Uniform
Residential Loan Application
7. Foreclosure is initiated on a consumer's principal dwelling that secures a credit
obligation. At this time, the finance charge and other disclosures affected by the
finance charge are considered accurate if they are above the amount required to
be disclosed or if they are understated by no more than
$35.00
$200.00
$50.00
$100.00 - ANSWER ✓ 200.00
