©SIRJOEL 2024/2025 ALL RIGHTS RESERVED.
NMLS Uniform State Content Exam Study
Guide
All advertising of a Mortgage Loan Originator must include which of the following?
-A photograph of the Mortgage Loan Originator
-The Mortgage Loan Originator's unique identifier
-Types of loans the Mortgage Loan Originator makes
-A disclaimer from the NMLS - Answer✔The Mortgage Loan Originator's unique identifier
All MLOs must include their NMLS ID# (unique identifier) on their advertisements.
A Mortgage Lender shall maintain capital of not less than $______ per licensed location:
-$100,000
-$200,000
-$300,000
-An amount determined by the state Regulatory Authority that reflects the dollar amount of
loans originated. - Answer✔An amount determined by the state Regulatory Authority that
reflects the dollar amount of loans originated.
Surety Bond and Net Worth requirements are outlined by the state regulatory authority at their
discretion. The SAFE Act does not outline a minimum requirement.
A loan originator is:
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, ©SIRJOEL 2024/2025 ALL RIGHTS RESERVED.
-A person who only performs real estate brokerage activities and is not compensated by a
lender, a mortgage broker, or other loan originator.
-A person or entity solely involved in extensions of credit relating to timeshare plans.
-An individual who takes a residential mortgage loan application and offers or negotiates terms
of a residential mortgage loan for compensation or gain.
-A person who only handles clerical or data entry functions. - Answer✔An individual who takes
a residential mortgage loan application and offers or negotiates terms of a residential mortgage
loan for compensation or gain.
A mortgage loan originator or MLO is an individual who for compensation or gain or in the
expectation of compensation or gain; takes a residential mortgage loan application; or offers or
negotiates terms of a residential mortgage loan.
All of the following are grounds for the Regulatory Authority to revoke a license except:
-material misstatements in an application.
-conviction of any crime of moral turpitude.
-failure to account for funds received or disbursed.
-not completing Continuing Education before Dec 31st. - Answer✔not completing Continuing
Education before Dec 31st.
If a licensee fails to complete their CE before expiration, they do not meet the requirements for
renewal and their license will expire.
The Nationwide Multistate Licensing System and Registry is developed and maintained by
which of the following:
-The Conference of State Bank Supervisors and the NMLS
-The American Association of Residential Mortgage Regulators and the NMLS
-The Conference of State Bank Supervisors and The American Association of Residential
Mortgage Regulators
-The NMLSR - Answer✔The Conference of State Bank Supervisors and The American
Association of Residential Mortgage Regulators
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NMLS Uniform State Content Exam Study
Guide
All advertising of a Mortgage Loan Originator must include which of the following?
-A photograph of the Mortgage Loan Originator
-The Mortgage Loan Originator's unique identifier
-Types of loans the Mortgage Loan Originator makes
-A disclaimer from the NMLS - Answer✔The Mortgage Loan Originator's unique identifier
All MLOs must include their NMLS ID# (unique identifier) on their advertisements.
A Mortgage Lender shall maintain capital of not less than $______ per licensed location:
-$100,000
-$200,000
-$300,000
-An amount determined by the state Regulatory Authority that reflects the dollar amount of
loans originated. - Answer✔An amount determined by the state Regulatory Authority that
reflects the dollar amount of loans originated.
Surety Bond and Net Worth requirements are outlined by the state regulatory authority at their
discretion. The SAFE Act does not outline a minimum requirement.
A loan originator is:
1|Page
, ©SIRJOEL 2024/2025 ALL RIGHTS RESERVED.
-A person who only performs real estate brokerage activities and is not compensated by a
lender, a mortgage broker, or other loan originator.
-A person or entity solely involved in extensions of credit relating to timeshare plans.
-An individual who takes a residential mortgage loan application and offers or negotiates terms
of a residential mortgage loan for compensation or gain.
-A person who only handles clerical or data entry functions. - Answer✔An individual who takes
a residential mortgage loan application and offers or negotiates terms of a residential mortgage
loan for compensation or gain.
A mortgage loan originator or MLO is an individual who for compensation or gain or in the
expectation of compensation or gain; takes a residential mortgage loan application; or offers or
negotiates terms of a residential mortgage loan.
All of the following are grounds for the Regulatory Authority to revoke a license except:
-material misstatements in an application.
-conviction of any crime of moral turpitude.
-failure to account for funds received or disbursed.
-not completing Continuing Education before Dec 31st. - Answer✔not completing Continuing
Education before Dec 31st.
If a licensee fails to complete their CE before expiration, they do not meet the requirements for
renewal and their license will expire.
The Nationwide Multistate Licensing System and Registry is developed and maintained by
which of the following:
-The Conference of State Bank Supervisors and the NMLS
-The American Association of Residential Mortgage Regulators and the NMLS
-The Conference of State Bank Supervisors and The American Association of Residential
Mortgage Regulators
-The NMLSR - Answer✔The Conference of State Bank Supervisors and The American
Association of Residential Mortgage Regulators
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