Mortgage Loan Originator Practice Test
Questions (MLO) Actual Exam All 120
Complete Questions 2026 With Answers |
100% Pass Guaranteed | Graded A+ | 2026
1. Under the SAFE Act, which of the following is a requirement for an individual to
be licensed as a Mortgage Loan Originator?
A. A credit score of at least 700.
B. Never having had a loan originator license revoked in any governmental
jurisdiction.
C. Being a citizen of the United States.
D. Having at least 5 years of experience in a related financial field.
2. According to RESPA (Regulation X), what is the primary purpose of the
'Affiliated Business Arrangement' disclosure?
A. To allow MLOs to receive kickbacks for referrals.
,B. To inform the consumer of the relationship between providers and that they
are not required to use the affiliate.
C. To guarantee the lowest possible price for settlement services.
D. To report the MLO’s annual commissions to the IRS.
3. Which federal law was enacted to ensure that all consumers are given an equal
chance to obtain credit?
A. ECOA
B. FCRA
C. HMDA
D. TILA
4. The Truth in Lending Act (TILA) is implemented by which Regulation?
A. Regulation C
B. Regulation B
C. Regulation Z
D. Regulation X
5. Under TRID rules, how many business days before consummation must the
Closing Disclosure (CD) be provided to the borrower?
A. 3 business days
B. 1 business day
C. 30 calendar days
, D. 7 business days
6. What is the maximum penalty for a single violation of the SAFE Act?
A. $5,000
B. $36,056
C. $1,000,000
D. $10,000
7. A 'Straw Buyer' is best described as:
A. A buyer who uses a down payment assistance program.
B. An individual whose name and credit are used to purchase a property they do
not intend to inhabit or control.
C. A first-time homebuyer with low credit scores.
D. A person who buys a home for their own primary residence.
8. Which of the following would NOT be considered a 'protected class' under the
Fair Housing Act?
A. Disability
B. Sex
C. Occupation
D. Familial Status
Questions (MLO) Actual Exam All 120
Complete Questions 2026 With Answers |
100% Pass Guaranteed | Graded A+ | 2026
1. Under the SAFE Act, which of the following is a requirement for an individual to
be licensed as a Mortgage Loan Originator?
A. A credit score of at least 700.
B. Never having had a loan originator license revoked in any governmental
jurisdiction.
C. Being a citizen of the United States.
D. Having at least 5 years of experience in a related financial field.
2. According to RESPA (Regulation X), what is the primary purpose of the
'Affiliated Business Arrangement' disclosure?
A. To allow MLOs to receive kickbacks for referrals.
,B. To inform the consumer of the relationship between providers and that they
are not required to use the affiliate.
C. To guarantee the lowest possible price for settlement services.
D. To report the MLO’s annual commissions to the IRS.
3. Which federal law was enacted to ensure that all consumers are given an equal
chance to obtain credit?
A. ECOA
B. FCRA
C. HMDA
D. TILA
4. The Truth in Lending Act (TILA) is implemented by which Regulation?
A. Regulation C
B. Regulation B
C. Regulation Z
D. Regulation X
5. Under TRID rules, how many business days before consummation must the
Closing Disclosure (CD) be provided to the borrower?
A. 3 business days
B. 1 business day
C. 30 calendar days
, D. 7 business days
6. What is the maximum penalty for a single violation of the SAFE Act?
A. $5,000
B. $36,056
C. $1,000,000
D. $10,000
7. A 'Straw Buyer' is best described as:
A. A buyer who uses a down payment assistance program.
B. An individual whose name and credit are used to purchase a property they do
not intend to inhabit or control.
C. A first-time homebuyer with low credit scores.
D. A person who buys a home for their own primary residence.
8. Which of the following would NOT be considered a 'protected class' under the
Fair Housing Act?
A. Disability
B. Sex
C. Occupation
D. Familial Status
