COLORADO NMLS QUESTIONS WITH
CORRECT ANSWERS 2025-2026
ALREADY GRADED A+.
Dora - ANS-Department of Regulatory Agencies-) was created to provide
centralized coordination and accountability to the Governor, General Assembly, its
divisions and the public.
DORA seeks to strike a balance between
two important but often conflicting needs - ANS-the public's right to consistent, high quality
professional and occupational services and the rights of businesses to exist and thrive in a
highly competitive market, free from unfair, costly and unnecessary regulation
DORA undertakes six primary activities - ANS-1. Regulation
2. Enforcement
3. Establishment of standards
4. Administration of direct programs
5. Communication
6. Providing occupational support
the DRE - ANS-Division of Real Estate-) is the licensing, regulation and enforcement
agency for the real estate brokerage, appraisal and mortgage loan origination industries
The DRE is headed by - ANS-the Director
The DRE is composed of - ANS-composed of the Real Estate Commission, the Board of Real
Estate
Appraisers and the Board of Mortgage Loan Originators.
the Board: - ANS-The Board of Mortgage Loan Originators-was established by law to
oversee the mortgage loan originator program and enforce the Mortgage Loan
Originator Licensing and Mortgage Company Registration Act (the Act)
the Act - ANS-Mortgage Loan
Originator Licensing and Mortgage Company Registration Act
, The Mortgage Loan
Originator Board and Mortgage Loan Originator Licensing and Mortgage Company Registration
Act - ANS-Consisting of five members, appointed by the Governor with the consent of the
Senate, the Board now exercises all of the rulemaking, enforcement and administrative authority
formerly given to the Director of the DRE.
In an examination or investigation, the Board may: - ANS-• administer oaths and affirmations.
• subpoena witnesses.
• require the production of relevant documents.
• request the assistance of the District Court to enforce
compliance with a subpoena.
A licensee or individual who, after investigation, is found to be in violation of the Act is
responsible for - ANS-paying all reasonable and necessary costs to the DRE arising from
subpoenas or requests issued, including court costs for any action brought.
mortgage company - ANS-a person, other than an individual, who, through employees or
other individuals, takes a residential loan application or offers or negotiates terms of a
residential mortgage loan.
person - ANS-an individual, corporation, company, limited liability company, partnership, firm,
association or other
legal entity.
Clerical or support duties - ANS-are those tasks performed after receipt of an application for a
residential mortgage loan
In order to register with the NMLS, a mortgage company must provide: - ANS-from the
Secretary
of State's office:
the Corporate Charter or Articles of Incorporation, if a corporation;
or the Articles of Organization and Operating Agreement, if a limited liability company; or
the Partnership Agreement, if a partnership in any form.
• a Certificate of Authority or a Certificate of Good Standing, dated not more than 60 days prior
to filing the application through the NMLS.
• if the applicant was formed outside of Colorado, certified proof of authorization to
do business in the state
• if the applicant will be operating under a name other than its legal name (e.g., a "dba" or
"fictitious" name), a file-stamped copy of the Certificate of Assumed Business Name.
An applicant/ mortgage company must also provide to the NMLS: - ANS-• proof of bond
coverage.
• fully answered disclosure questions.
• payment of a nonrefundable fee of $265, which includes the NMLS processing fee.
CORRECT ANSWERS 2025-2026
ALREADY GRADED A+.
Dora - ANS-Department of Regulatory Agencies-) was created to provide
centralized coordination and accountability to the Governor, General Assembly, its
divisions and the public.
DORA seeks to strike a balance between
two important but often conflicting needs - ANS-the public's right to consistent, high quality
professional and occupational services and the rights of businesses to exist and thrive in a
highly competitive market, free from unfair, costly and unnecessary regulation
DORA undertakes six primary activities - ANS-1. Regulation
2. Enforcement
3. Establishment of standards
4. Administration of direct programs
5. Communication
6. Providing occupational support
the DRE - ANS-Division of Real Estate-) is the licensing, regulation and enforcement
agency for the real estate brokerage, appraisal and mortgage loan origination industries
The DRE is headed by - ANS-the Director
The DRE is composed of - ANS-composed of the Real Estate Commission, the Board of Real
Estate
Appraisers and the Board of Mortgage Loan Originators.
the Board: - ANS-The Board of Mortgage Loan Originators-was established by law to
oversee the mortgage loan originator program and enforce the Mortgage Loan
Originator Licensing and Mortgage Company Registration Act (the Act)
the Act - ANS-Mortgage Loan
Originator Licensing and Mortgage Company Registration Act
, The Mortgage Loan
Originator Board and Mortgage Loan Originator Licensing and Mortgage Company Registration
Act - ANS-Consisting of five members, appointed by the Governor with the consent of the
Senate, the Board now exercises all of the rulemaking, enforcement and administrative authority
formerly given to the Director of the DRE.
In an examination or investigation, the Board may: - ANS-• administer oaths and affirmations.
• subpoena witnesses.
• require the production of relevant documents.
• request the assistance of the District Court to enforce
compliance with a subpoena.
A licensee or individual who, after investigation, is found to be in violation of the Act is
responsible for - ANS-paying all reasonable and necessary costs to the DRE arising from
subpoenas or requests issued, including court costs for any action brought.
mortgage company - ANS-a person, other than an individual, who, through employees or
other individuals, takes a residential loan application or offers or negotiates terms of a
residential mortgage loan.
person - ANS-an individual, corporation, company, limited liability company, partnership, firm,
association or other
legal entity.
Clerical or support duties - ANS-are those tasks performed after receipt of an application for a
residential mortgage loan
In order to register with the NMLS, a mortgage company must provide: - ANS-from the
Secretary
of State's office:
the Corporate Charter or Articles of Incorporation, if a corporation;
or the Articles of Organization and Operating Agreement, if a limited liability company; or
the Partnership Agreement, if a partnership in any form.
• a Certificate of Authority or a Certificate of Good Standing, dated not more than 60 days prior
to filing the application through the NMLS.
• if the applicant was formed outside of Colorado, certified proof of authorization to
do business in the state
• if the applicant will be operating under a name other than its legal name (e.g., a "dba" or
"fictitious" name), a file-stamped copy of the Certificate of Assumed Business Name.
An applicant/ mortgage company must also provide to the NMLS: - ANS-• proof of bond
coverage.
• fully answered disclosure questions.
• payment of a nonrefundable fee of $265, which includes the NMLS processing fee.
