AZ NMLS TEST QUESTIONS WITH CORRECT ANSWERS

Arizona Department of Financial Institutions regulates: CORRECT ANSWER brokers bankers escrow officers motor vehicle dealers Etc. AZDFI checks financial instructions every... CORRECT ANSWER 5 years The superintendent is the _____, is appointed by _____ and serves for a term of _____ CORRECT ANSWER Chief Officer; Governor; 5 years The superintendent needs at least ____ years of experience in the financial industry to serve CORRECT ANSWER 5 years of experience within 15 years prior to appointment Responsibilities of the superintendent are to ____ and ____ CORRECT ANSWER Protect the public and avoid conflict of interest The superintendent must publish a ______________ CORRECT ANSWER Consumer information brochure The maximum interest rate in Arizona is _______. CORRECT ANSWER 10% if not stated in writing The superintendent shall examine ______ every _____. CORRECT ANSWER Each bank, credit union, and other associations once every 2 years All assets, fees, fines and assessments received by the department are deposited into the _________ CORRECT ANSWER State General Fund The application fee for a Loan Originator is ____ and the renewal fee is _____ CORRECT ANSWER $150 application fee