UST ACUTAL EXAM QUESTIONS AND
ANSWERS GRADED A+ 2025/2026
Licensed MLOs may work for how many entities? - ANS only 1
How long after an MLO fails to maintain a valid license must they retake the test? - ANS 5
years
What is the maximum amount of insurance an originator can require a borrower to obtain on
his/her home? - ANS Replacement cost of the home
In order to obtain an MLO license, all of the following are required as part of the licensing
process except? - ANS Business reference
The Nationwide Mortgage Licensing System was put in place to do all of the following except? -
ANS approve or deny applications for license
An individual may not engage in the business of a loan originator without first obtaining and
maintaining all of the following except? - ANS Pass an annual exam
Which of the following would need to license as an MLO? - ANS Processor or underwriter
who works as an independent contractor
Which two entities below created and manage the NMLS&R? - ANS CSBS and AARMR
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
ANSWERS GRADED A+ 2025/2026
Licensed MLOs may work for how many entities? - ANS only 1
How long after an MLO fails to maintain a valid license must they retake the test? - ANS 5
years
What is the maximum amount of insurance an originator can require a borrower to obtain on
his/her home? - ANS Replacement cost of the home
In order to obtain an MLO license, all of the following are required as part of the licensing
process except? - ANS Business reference
The Nationwide Mortgage Licensing System was put in place to do all of the following except? -
ANS approve or deny applications for license
An individual may not engage in the business of a loan originator without first obtaining and
maintaining all of the following except? - ANS Pass an annual exam
Which of the following would need to license as an MLO? - ANS Processor or underwriter
who works as an independent contractor
Which two entities below created and manage the NMLS&R? - ANS CSBS and AARMR
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
