NMLS Exam Study
Guide: RESPA
Questions and
Answers Updated
2026
RealBEstateBSettlementBProceduresBActB(RESPA)B-
BAnswerThisBactBprovidesBconsumerBprotectionBforBloansBonBresidentialBpropertiesBofB
1-4Bunits.
NothingBofBValueB-
BAnswer__________BcanBbeBgivenBinBexchangeBforBtheBreferralBofBbusinessBwithBtheB
exceptionBofBrealBestateBbrokerageBfirmsBthatBareBallowedBtoBexchangeBreferralsBbetw
eenBthemselves.
ThingBofBValueB-
BAnswerAB__________BmayBincludeBgiftBcards,BsportsBtickets,BadvertisingBspace,Bmarke
tingBmaterialBbearingBaBrealBetateBagent'sBinformationBtoBgiveBtoBhis/herBclient,Betc.
TrueB(PromotionalBitemsBwithBtheBcompanyBlogoBareBpermittedBtoBbeBgiven)B-
BAnswerTrueBorBFalse:BPromotionalBitemsBwithBtheBcompanyBlogoBareBpermittedBtoBbe
Bgiven.
RegulationBXB-BAnswerWhatBregulationBisBRESPA?
, RESPAB(RegulationBX)B-
BAnswerPrimarilyBinvolvedBwithBtheBdisclosureBofBclosingBcostsBandBtheBpreventionBof
Bkickbacks,BwhichBmayBraiseBtheBclosingBcostsBtoBtheBconsumer:
ConsumerBFinancialBProtectionBBureauB-
BAnswerEnforcesBtheBRESPABregulations.BHUDBwasBtheBpreviousBenforcer.
FalseB(RESPABdoesBNOTBapplyBtoBloansBsecuredBbyBcommercialBproperties)B-
BAnswerTrueBorBFalse:BRESPABappliesBtoBloansBsecuredBbyBcommercialBproperties.
VacantBLandB-
BAnswerRESPABdoesBnotBapplyBtoB__________B(unlessBaBdwellingBisBintendedBtoBbeBc
onstructedBonBtheBlandBwithinBtwoByears):
25BorBmoreBacresB-
BAnswerRESPABdoesBnotBapplyBtoBpropertiesBcontainingB__________BorBmoreBacres:
TrueB-
BAnswerTrueBorBFalse:BRESPABdoesBnotBapplyBtoBtemporaryBfinancing,BsuchBasBbridgeB
loansBandBconstructionBloans.
SectionB6B-
BAnswerWhichBsectionBofBRESPABdealsBwithBtheBmortgageBservicerBandBtheBmortgageB
servicingBabuses?
37Bdays,BandB30BdaysB-
BAnswerAccordingBtoBRESPABSectionB6,BifBtheBservicerBreceivesBtheBlossBmitigationBapp
licationB__________BdaysBbeforeBaBforeclosureBsale,BtheBborrower'sBsituationBmustBbe
BevaluatedBforBallBapplicableBoptionsB(modification,BshortBsale,Betc,BwithinB__________
Bdays.
90BDays
Guide: RESPA
Questions and
Answers Updated
2026
RealBEstateBSettlementBProceduresBActB(RESPA)B-
BAnswerThisBactBprovidesBconsumerBprotectionBforBloansBonBresidentialBpropertiesBofB
1-4Bunits.
NothingBofBValueB-
BAnswer__________BcanBbeBgivenBinBexchangeBforBtheBreferralBofBbusinessBwithBtheB
exceptionBofBrealBestateBbrokerageBfirmsBthatBareBallowedBtoBexchangeBreferralsBbetw
eenBthemselves.
ThingBofBValueB-
BAnswerAB__________BmayBincludeBgiftBcards,BsportsBtickets,BadvertisingBspace,Bmarke
tingBmaterialBbearingBaBrealBetateBagent'sBinformationBtoBgiveBtoBhis/herBclient,Betc.
TrueB(PromotionalBitemsBwithBtheBcompanyBlogoBareBpermittedBtoBbeBgiven)B-
BAnswerTrueBorBFalse:BPromotionalBitemsBwithBtheBcompanyBlogoBareBpermittedBtoBbe
Bgiven.
RegulationBXB-BAnswerWhatBregulationBisBRESPA?
, RESPAB(RegulationBX)B-
BAnswerPrimarilyBinvolvedBwithBtheBdisclosureBofBclosingBcostsBandBtheBpreventionBof
Bkickbacks,BwhichBmayBraiseBtheBclosingBcostsBtoBtheBconsumer:
ConsumerBFinancialBProtectionBBureauB-
BAnswerEnforcesBtheBRESPABregulations.BHUDBwasBtheBpreviousBenforcer.
FalseB(RESPABdoesBNOTBapplyBtoBloansBsecuredBbyBcommercialBproperties)B-
BAnswerTrueBorBFalse:BRESPABappliesBtoBloansBsecuredBbyBcommercialBproperties.
VacantBLandB-
BAnswerRESPABdoesBnotBapplyBtoB__________B(unlessBaBdwellingBisBintendedBtoBbeBc
onstructedBonBtheBlandBwithinBtwoByears):
25BorBmoreBacresB-
BAnswerRESPABdoesBnotBapplyBtoBpropertiesBcontainingB__________BorBmoreBacres:
TrueB-
BAnswerTrueBorBFalse:BRESPABdoesBnotBapplyBtoBtemporaryBfinancing,BsuchBasBbridgeB
loansBandBconstructionBloans.
SectionB6B-
BAnswerWhichBsectionBofBRESPABdealsBwithBtheBmortgageBservicerBandBtheBmortgageB
servicingBabuses?
37Bdays,BandB30BdaysB-
BAnswerAccordingBtoBRESPABSectionB6,BifBtheBservicerBreceivesBtheBlossBmitigationBapp
licationB__________BdaysBbeforeBaBforeclosureBsale,BtheBborrower'sBsituationBmustBbe
BevaluatedBforBallBapplicableBoptionsB(modification,BshortBsale,Betc,BwithinB__________
Bdays.
90BDays