NMLS SAFE EXAM QUESTIONS AND CORRECT ANSWERS UPDATED 2026 A+

NMLS SAFE
EXAM
QUESTIONS
AND
CORRECT
ANSWERS
UPDATED
2026 A+
PrimaryBMortgageBMarketB-BAnswerWhereBcreditBinstitutionsBoriginateBloans

,C.BTheBmaximumBtheBrateBcanBincreaseBoverBtheBlifeBofBtheBloanB-
BAnswerWhenBanBARMBhasBrateBcapsBofB5/2/6,BtheB6BrefersBtoBwhat?

A.BTheBmaximumBrateBincreaseBatBtheBinitialBadjustmentB

B.BTheBstartBrateBforBtheBloan

C.BTheBmaximumBtheBrateBcanBincreaseBoverBtheBlifeBofBtheBloan

D.BTheBrateBmaximumBtheBrateBcanBdecreaseBoverBtheBlifeBofBtheBloan



B.BTheBborrowerBqualifiedBatBtheBbuydownBrateB-
BAnswerWhenButilizingBaBtemporaryBbuydownBtoBlowerBtheBinterestBrateBonBaBFHABlo
an,BwhichBofBtheBfollowingBareBcorrect

A.BTheBborrowerBqualifiedBatBtheBnoteBrate

B.BTheBborrowerBqualifiedBatBtheBbuydownBrate

C.BTheBrateBcannotBbeBmoreBthanB2%BbelowBtheBnoteBrate

D.BSellerBorBbuilderBcanBpayBtheBdiscountBpointsBtoBbuydownBtheBrate



A.BAgeB-BAnswerAllBofBtheBfollowingBareBviolationsBofBtheBFairBHousingBActBEXCEPT

A.BAge

B.BNationalBOriginB

C.BDisabilityB

D.Religion



EncrumbranceB-
BAnswerClaimBagainstBpropertyBheldBbyBoneBwhoBisBnotBtheBlegalBowner



TriggerBTermB-BAnswerAdvertisedBtermBthatBrequiresBadditionalBdisclosures



AdvertisingBDisclosureB-
BAnswerAnBadvertisementBmustBbeBpresentedB"clearlyBandBconspicuously"BtoBkeepBfro
mBbeingBdeceptive,Bunfair,BorBotherwiseBviolateBaBCommissionBrule

,WavingBRightBofBRescissionB-
BAnswerExtenuatingBcircumstancesBsuchBasB"bonaBfideBpersonalBfinancialBemergency



RightBofBRescissionB-
BAnswerRightBthatBborrowersBhaveBtoBcancelBaBloanBorBlineBofBcreditBwithBaBlenderB
withinBthreeBdaysBofBclosing



BusinessBDayB-
BAnswerWhenBcreditorsBofficeBisBopenBtoBtheBpublic,BaBcalendarBworkingBdayBexceptB
SundayBorBaBfederalBholiday



ApplicationB-
BAnswerFinancialBinformationBusedBforBpurposesBofBobtainingBanBextensionBofBcredit



DisclosureB-BAnswerTheBactBofBmakingBnewBinformationBknown



FTC

FederalBTradeBCommissionB-
BAnswerMissionBisBtoBpromoteBconsumerBprotectionBandBeliminateBandBpreventBantico
mpetitiveBbusinessBpractices



CFPB

ConsumerBFinancialBProtectionBBureauB-
BAnswerRegulatoryBagencyBchargedBwithBoverseeingBfinancialBproductsBandBservicesBoff
eredBtoBconsumers



TILA

TruthBinBLendingBActB-
BAnswerEnactedB1968BpromotesBtheBinformedBuseBofBconsumerBcreditBbyBrequiringBdi
sclosuresBaboutBtermsBandBcostsBandBstandardizesBtheBmannerBinBwhichBcostsBwithBb
orrowingBareBcalculatedBandBdisclosed

, PerBDiemBInterestB-BAnswerInterestBchargedBonBaBloanBforBoneBorBmoreBdays



AnnualBInterestBRateBFormulaB-
BAnswerPrincipalB(X)BInterestBRateB=BAnnualBInterestBRate



InterestBOnlyBMortgageB-
BAnswerMortgageBwhereBtheBmortgagorBisBonlyBrequiredBtoBpayBoffBtheBinterestBthatB
arisesBfromBtheBprincipalBthatBisBborrowedBforBaBsetBperiod



PermanentBBuydownB-
BAnswerBorrowerBchoosesBtoBpayBadditionalB"discountBpoints"BtoBbuyBdownBtheBinter
estBrateBforBtheBlifeBofBtheBmortgageBnote



2/1BBuydownB-BAnswerUsedBonBfixedBrateBloansBoverBtwoByears

SetBofBtwoBinitialBtemporary-startBinterestBratesBthatBincreaseBinBstair-
stepBfashionBuntilBaBpermanentBinterestBrateBisBreached



DiscountBPointB-BAnswerABformBofBpre-
paidBinterestBwhichBeffectivelyBincreasesBtheByieldBonBtheBloanBaboveBtheBamountBofB
theBstatedBinterestBrate



CLTV

CombinedBLoanBtoBValueB-
BAnswerAnBamountBinBadditionBtoBtheBLoanBtoBValue,BwhichBsimplyBrepresentsBtheBfir
stBpositionBmortgageBorBloanBasBaBpercentageBofBtheBproperty'sBvalue



LTV

LoanBtoBValueB-BAnswerRatioBofBaBloanBtoBtheBvalueBofBanBassetBpurchased



PITIB-BAnswerPrincipal,BInterest,BTaxes,BInsurance