CALIFORNIA STATE NMLS Exam
Questions And 100% Verified Answers |
Latest 2025/ 2026 Update | Graded A+
Which of the following are NOT grounds for denying a license?
Answers
A. Felony within 7 years
B. First time CA misdemeanor DUI conviction
C. Personal or business bankruptcy - CORRECT ANSWER-B
Which of the following is an example of a covered loan?
Answers
A. An ARM
B. A loan with acceleration to the rate upon default
,C. Negative amortization
D. A loan in which the original principal balance
does not exceed the most current conforming
loan limit - CORRECT ANSWER-D
Which of the following is considered grounds to deny a California
mortgage loan originator's license?
Answers
A. A credit score under 620.
B. A 10 year-old felony conviction for assault
C. A previous revocation of a mortgage broker's
license in another state
D. A bankruptcy in the previous 7 years - CORRECT ANSWER-C.
,Which of the following is not a prohibited practice?
Answers
A. To collect any mortgage broker fees after a
conditional commitment is obtained from the
lender by the mortgage broker
B. To delay closing of a mortgage loan for the
purpose of increasing interest rate, costs, fees, or
other charges payable by the borrower
C. To fail to disburse funds in accordance with a
written commitment to make a mortgage loan
D. All of the above - CORRECT ANSWER-A.
Which of the following is not a requirement for initial licensure?
Answers
, A. The applicant must complete 20 hours of NMLS
approved prelicensing education.
B. The applicant must have an associates degree
or equivalent post secondary education.
C. The applicant must pass a qualified federal test
with a score of at least 75%.
D. The applicant must show financial responsibility. - CORRECT
ANSWER-C.
Which of the following is not considered an instance of mortgage fraud?
Answers
A. Redlining an underserved, urban area
B. Filing documents with a public office that you know are incorrect
C. Knowingly using incorrect information with the
Questions And 100% Verified Answers |
Latest 2025/ 2026 Update | Graded A+
Which of the following are NOT grounds for denying a license?
Answers
A. Felony within 7 years
B. First time CA misdemeanor DUI conviction
C. Personal or business bankruptcy - CORRECT ANSWER-B
Which of the following is an example of a covered loan?
Answers
A. An ARM
B. A loan with acceleration to the rate upon default
,C. Negative amortization
D. A loan in which the original principal balance
does not exceed the most current conforming
loan limit - CORRECT ANSWER-D
Which of the following is considered grounds to deny a California
mortgage loan originator's license?
Answers
A. A credit score under 620.
B. A 10 year-old felony conviction for assault
C. A previous revocation of a mortgage broker's
license in another state
D. A bankruptcy in the previous 7 years - CORRECT ANSWER-C.
,Which of the following is not a prohibited practice?
Answers
A. To collect any mortgage broker fees after a
conditional commitment is obtained from the
lender by the mortgage broker
B. To delay closing of a mortgage loan for the
purpose of increasing interest rate, costs, fees, or
other charges payable by the borrower
C. To fail to disburse funds in accordance with a
written commitment to make a mortgage loan
D. All of the above - CORRECT ANSWER-A.
Which of the following is not a requirement for initial licensure?
Answers
, A. The applicant must complete 20 hours of NMLS
approved prelicensing education.
B. The applicant must have an associates degree
or equivalent post secondary education.
C. The applicant must pass a qualified federal test
with a score of at least 75%.
D. The applicant must show financial responsibility. - CORRECT
ANSWER-C.
Which of the following is not considered an instance of mortgage fraud?
Answers
A. Redlining an underserved, urban area
B. Filing documents with a public office that you know are incorrect
C. Knowingly using incorrect information with the
