NMLS Practice Test Hard Questions and Answers Updated 22026

NMLS Practice Test Hard
Questions and Answers
Updated 22026
ABdiscountBpointBisBBESTBdescribedBasBaBchargeBtheBborrowerBpaysBto:



A.)BABlenderBtoBdecreaseBtheBinterestBrateBonBtheBmortgageBloan

B.)BABmortgageBbrokerBatBtheBtimeBofBapplicationBtoBobtainBaBfavorableBrate

C.)BTheBsellerBasBpartBofBtheBclosingBcostsBofBaBloan

D.)BABlenderBtoBensureBagainstBforeclosureB-
BAnswerA.)BABlenderBtoBdecreaseBtheBinterestBrateBonBtheBmortgageBloan



ABbuyerBhasBmadeBanBearnestBmoneyBpaymentBofB$5,000.BTheBbuyerBpaysBanBadditio
nalB$2,000BinBoptionBmoneyBtoBbeBcreditedBatBclosingBonBpropertyBwithBsaleBpriceBof
B$160,000.BIfBtheBrequiredBdownBpaymentBisB20%,BhowBmuchBadditionalBmoneyBwillBt
heBbuyerBneedBtoBprovideBtowardBtheBdownBpaymentBatBclosing?



A.)B$32,000

B.)B$27,000

C.)B$30,000

D.)B$25,000B-BAnswerD.)B$25,000




$160,000BxB.20B(20%)B=B32000B-B$7,000B=B$25,000



IfBanBapplicantBworksB40BhoursBeveryBweekBandBisBpaidB$13.52BperBhour,BwhatBisBthe
Bapplicant'sBmonthlyBincome?

,A.)B$2,163.20

B.)B$2,343.47

C.)B$2,379.52

D.)B$2,487.68B-BAnswerB.)B$2,343.47




$13.52xB40BhoursB=B$540.8BxB52BweeksB=B$28,121.6BannuallyB/12monthB=B$2,343.47B
MonthlyBincome



TheBrequirementBforBprivateBmortgageBinsuranceBisBgenerallyBisBcontinuedBwhenBtheBl
oan-to-valueBratioBfallsBbelow:



A.)B20%

B.)B50%

C.)B80%

D.)B90%B-BAnswerC.)B80%



WhichBofBtheBfollowingBdocumentsBitemizesBallBsettlementBcostsBincludingBlenderBchar
ges?



A.)BAgreementBofBsale

B.)BHUD-1/closingBDisclosure

C.)BFormB1003

D.)BForbearanceBagreementB-BAnswerB.)BHUD-1/closingBDisclosure



AccordingBtoBtheBTruth-in-LendingBActB(TILA),BtheBtermB"refinance"BappliesBto



A.)BABchangeBinBaBpaymentBschedule

, B.)BABreductionBinBannualBpercentageBrate

C.)BTheBrenewalBofBaBsingleBpaymentBobligationBwithBnoBchangeBinBtheBoriginalBterms

D.)BTheBsatisfactionBofBanBexistingBobligationBandBitsBreplacementBbyBaBnewBobligation
B-
BAnswerD.)BTheBsatisfactionBofBanBexistingBobligationBandBitsBreplacementBbyBaBnewBo
bligation



WhatBdoesBaBloanBoriginatorBuseBtoBdetermineBtheBestimatedBvalueBofBaBpropertyBba
sedBonBanBanalyticalBcomparisonBofBsimilarBpropertyBsales?



A.)BAnBappraisal

B.)BABmarketBsurvey

C.)BAnBareaBsurvey

D.)BABCost-benefitBanalysisB-BAnswerA.)BAnBappraisal



WhichBofBtheBfollowingBmethodsBofBdisclosureBdoesBNOTBmeetBtheBrequirementsBofBE
qualBCreditBOpportunityBActB(ECOA)?



A.)BE-mail

B.)BMailedBletter

C.)BTelephone

D.)BFaxedBletterB-BAnswerC.)BTelephone



TermB"20BbasisBpoints"BexpressedBasBaBpercentageBis:



A.)B0.2%

B.)B0.20%

C.)B2.00%

D.)B20.00%B-BAnswerB.)B0.20%