Mortgage Loan Originator Questions
with Complete Solutions (Latest 2025)
What does RESPA stand for? - Correct Answers ✅The Real
Estate Settlement Procedures Act (Regulation X)
What does ECOA stand for? - Correct Answers ✅Equal
Credit Opportunity Act (Regulation B)
What does TILA stand for? - Correct Answers ✅Truth In
Lending Act (Regulation Z)
What does TRID stand for? - Correct Answers ✅TILA-RESPA
Integrated Disclosure Rule (a.k.a. "Know Before You Owe")
What does CFPB stand for? - Correct Answers ✅Consumer
Financial Protection Bureau
What does NMLS stand for? - Correct Answers
✅Nationwide Mortgage Licensing System and Registry
What is SAFE and UST? - Correct Answers ✅Secure and
Fair Enforcement for Mortgage and Licensing Act of 2008, and
Uniform State Test.
Included in the Loan Estimate, all of the following are part of
the finance charge except the:
A. Appraisal cost
, Mortgage Loan Originator Questions
with Complete Solutions (Latest 2025)
B. VA funding fee
C. Per diem interest
D. Origination charges - Correct Answers ✅A. Appraisal
cost
If an applicant works 40 hours every week and is paid $13.52
per hour, what is the applicant's monthly income?
A. $2,163.20
B. $2,343.47
C. $2,379.52
D. $2,487.68 - Correct Answers ✅B. $2,343.47
According to the TILA, which of the following fees is excluded
from the calculation of the APR?
A. Wire Transfer
B. Prepaid interest
C. Hazard Insurance
D. Mortgage insurance premiums - Correct Answers ✅C.
Hazard insurance
Brokerage Services - Correct Answers ✅Include obtaining
or attempting to obtain, on behalf of a borrower, a residential
mortgage loan, secured by residential real estate, made with
the funds of another institutional lender and closed in the
with Complete Solutions (Latest 2025)
What does RESPA stand for? - Correct Answers ✅The Real
Estate Settlement Procedures Act (Regulation X)
What does ECOA stand for? - Correct Answers ✅Equal
Credit Opportunity Act (Regulation B)
What does TILA stand for? - Correct Answers ✅Truth In
Lending Act (Regulation Z)
What does TRID stand for? - Correct Answers ✅TILA-RESPA
Integrated Disclosure Rule (a.k.a. "Know Before You Owe")
What does CFPB stand for? - Correct Answers ✅Consumer
Financial Protection Bureau
What does NMLS stand for? - Correct Answers
✅Nationwide Mortgage Licensing System and Registry
What is SAFE and UST? - Correct Answers ✅Secure and
Fair Enforcement for Mortgage and Licensing Act of 2008, and
Uniform State Test.
Included in the Loan Estimate, all of the following are part of
the finance charge except the:
A. Appraisal cost
, Mortgage Loan Originator Questions
with Complete Solutions (Latest 2025)
B. VA funding fee
C. Per diem interest
D. Origination charges - Correct Answers ✅A. Appraisal
cost
If an applicant works 40 hours every week and is paid $13.52
per hour, what is the applicant's monthly income?
A. $2,163.20
B. $2,343.47
C. $2,379.52
D. $2,487.68 - Correct Answers ✅B. $2,343.47
According to the TILA, which of the following fees is excluded
from the calculation of the APR?
A. Wire Transfer
B. Prepaid interest
C. Hazard Insurance
D. Mortgage insurance premiums - Correct Answers ✅C.
Hazard insurance
Brokerage Services - Correct Answers ✅Include obtaining
or attempting to obtain, on behalf of a borrower, a residential
mortgage loan, secured by residential real estate, made with
the funds of another institutional lender and closed in the
