NMLS Test Prep CompuCram
Test Questions and Answers
Updated 2026
ABborrowerBsignsBtheBnoteBandBmortgageBforBaBrefinanceBonBhisBprincipalBresidenceB
onBThursday,BDec.B31.BWhatBisBtheBearliestBdayBtheBfundsBforBthisBloanBcouldBbeBdisb
ursedB(assumingBnoBbonaBfideBfinancialBhardship)?B-BAnswerWednesday,BJan.B6
WhoBmanagesBtheBNationalBDoBNotBCallBRegistry?B-BAnswerFederalBTradeBCommission
WhatBfederalBlegislationBregulatesBcreditBreportingBagenciesBandBlendersBconcerningBcr
editBreporting?B-BAnswerFCRA
WhatBisBnotBprohibitedBtoBbeBincludedBinBtheBloanBtermsBforBHOEPABcoveredBitems?B
-BAnswerlateBfees.
CommissionsBofBrealBestateBbrokersBorBagentsBwouldBbeBlisted:B-BAnswerInB"Other"
ABLoanBApplicationBReportBisBdueBbyBMarchB1stBofBeachByearBasBaBresultBofBtheBena
ctmentBofBtheB-BAnswerHomeBMortgageBDisclosureBAct.
WhatBactionBwouldBnotBbeBconsideredB"adverseBaction"BaccordingBtoBtheBFairBCreditB
ReportingBAct?B-
BAnswergrantingBaBmortgageBloanBbasedBonBtheBtermsBtheBconsumerBappliedBfor
WhichBloansBareBnotBcoveredBunderBHMDA?B-BAnswercommercialBloans
ABloanBgenerallyBcannotBbeBconsideredBaBqualifiedBmortgageB(QM)BifBtheBpointsBandB
feesBpaidBbyBtheBconsumerBexceedB_____BpercentB(%)BofBtheBtotalBloanBamount.B-
BAnswer3
, WhichBdisclosureBisBnotBrequiredBbyBHOEPA?B-BAnswerrightBtoBcreditBscore
AccordingBtoBtheBSAFEBAct,BwhichBwouldBbeBconsideredBaBtaskBthatBwouldBrequireBso
meoneBtoBbeBaBlicensedBMLO?B-
BAnswerassistingBaBborrowerBinBobtainingBaBmortgageBloanBbyBofferingBtoBnegotiateBt
ermsBwithBaBlender.
TheBloanBestimateBmustBincludeBtheBaddressBofBtheBproperty.BIfBtheBaddressBisBunavai
lable,BwhatBmustByouBuse?B-BAnsweraBdescriptionBofBtheBlocationBofBtheBproperty
ABborrowerBelectsBtoBlowerBhisBsettlementBcostsBbyBpayingBaBslightlyBhigherBinterestBr
ate.BThisBappearsBonBtheBLoanBEstimateBasBaB-BAnsweraBcreditBtoBtheBborrower
WhatBmayBbeBusedBtoBconvertBtheBconstructionBloanBintoBpermanentBfinancing?B-
BAnsweraBmodificationBagreement
ActualBchargesBatBsettlementBlistedBonBtheBCDBcanBincreaseBmoreBthanB10%BfromBthe
BestimatesBshownBonBtheBLEBforBwhatBfee?B-BAnswerHomeownersBinsurance
TheBloanBrequestedBdividedBbyBtheBtotalBcostBofBtheBprojectBisBreferredBtoBasBtheBwh
at?B-BAnswerloanBtoBcost
WhichBfinancialBarrangementBisBexemptBfromBtheBRealBEstateBSettlementBProceduresBA
ct?B-BAnswerBridgeBloans
ABCBMortgageBCompanyBhasBbeenBaccusedBofBinappropriatelyBcallingBtwoBconsumersB
onBtheBNationalBDoBNoBCallBRegistry.BWhatBisBtheBfineBABCBcouldBincurBforBthis?B-
BAnswer$80,000
WhenBmustBaBre-certificationBofBvalueBbeBperformed?B-BAnswer120Bdays
Test Questions and Answers
Updated 2026
ABborrowerBsignsBtheBnoteBandBmortgageBforBaBrefinanceBonBhisBprincipalBresidenceB
onBThursday,BDec.B31.BWhatBisBtheBearliestBdayBtheBfundsBforBthisBloanBcouldBbeBdisb
ursedB(assumingBnoBbonaBfideBfinancialBhardship)?B-BAnswerWednesday,BJan.B6
WhoBmanagesBtheBNationalBDoBNotBCallBRegistry?B-BAnswerFederalBTradeBCommission
WhatBfederalBlegislationBregulatesBcreditBreportingBagenciesBandBlendersBconcerningBcr
editBreporting?B-BAnswerFCRA
WhatBisBnotBprohibitedBtoBbeBincludedBinBtheBloanBtermsBforBHOEPABcoveredBitems?B
-BAnswerlateBfees.
CommissionsBofBrealBestateBbrokersBorBagentsBwouldBbeBlisted:B-BAnswerInB"Other"
ABLoanBApplicationBReportBisBdueBbyBMarchB1stBofBeachByearBasBaBresultBofBtheBena
ctmentBofBtheB-BAnswerHomeBMortgageBDisclosureBAct.
WhatBactionBwouldBnotBbeBconsideredB"adverseBaction"BaccordingBtoBtheBFairBCreditB
ReportingBAct?B-
BAnswergrantingBaBmortgageBloanBbasedBonBtheBtermsBtheBconsumerBappliedBfor
WhichBloansBareBnotBcoveredBunderBHMDA?B-BAnswercommercialBloans
ABloanBgenerallyBcannotBbeBconsideredBaBqualifiedBmortgageB(QM)BifBtheBpointsBandB
feesBpaidBbyBtheBconsumerBexceedB_____BpercentB(%)BofBtheBtotalBloanBamount.B-
BAnswer3
, WhichBdisclosureBisBnotBrequiredBbyBHOEPA?B-BAnswerrightBtoBcreditBscore
AccordingBtoBtheBSAFEBAct,BwhichBwouldBbeBconsideredBaBtaskBthatBwouldBrequireBso
meoneBtoBbeBaBlicensedBMLO?B-
BAnswerassistingBaBborrowerBinBobtainingBaBmortgageBloanBbyBofferingBtoBnegotiateBt
ermsBwithBaBlender.
TheBloanBestimateBmustBincludeBtheBaddressBofBtheBproperty.BIfBtheBaddressBisBunavai
lable,BwhatBmustByouBuse?B-BAnsweraBdescriptionBofBtheBlocationBofBtheBproperty
ABborrowerBelectsBtoBlowerBhisBsettlementBcostsBbyBpayingBaBslightlyBhigherBinterestBr
ate.BThisBappearsBonBtheBLoanBEstimateBasBaB-BAnsweraBcreditBtoBtheBborrower
WhatBmayBbeBusedBtoBconvertBtheBconstructionBloanBintoBpermanentBfinancing?B-
BAnsweraBmodificationBagreement
ActualBchargesBatBsettlementBlistedBonBtheBCDBcanBincreaseBmoreBthanB10%BfromBthe
BestimatesBshownBonBtheBLEBforBwhatBfee?B-BAnswerHomeownersBinsurance
TheBloanBrequestedBdividedBbyBtheBtotalBcostBofBtheBprojectBisBreferredBtoBasBtheBwh
at?B-BAnswerloanBtoBcost
WhichBfinancialBarrangementBisBexemptBfromBtheBRealBEstateBSettlementBProceduresBA
ct?B-BAnswerBridgeBloans
ABCBMortgageBCompanyBhasBbeenBaccusedBofBinappropriatelyBcallingBtwoBconsumersB
onBtheBNationalBDoBNoBCallBRegistry.BWhatBisBtheBfineBABCBcouldBincurBforBthis?B-
BAnswer$80,000
WhenBmustBaBre-certificationBofBvalueBbeBperformed?B-BAnswer120Bdays
