NMLS Practice Test Hard (Latest 2026/
2027 Update) questions and answers 100%
Correct [Grade A]
Which of the following is NOT a characteristic of a Tenants in Common form of
ownership:
A.) Equal shares
B.) Buy at different times
C.) Right survivorship
D.) Ability to will share - Correct answer C.) Right survivorship
PITI payments do NOT include which of the following:
A.) Principle
B.) Funding Fee
C.) Hazard Insurance
D.) Interest - Correct answer B.) Funding Fee
,Who does Fannie Mae hold responsible for the quality of an appraisal?
A.) Appraiser
B.) Borrower
C.) Mortgage broker
D.) Lender - Correct answer D.) Lender
Which law is known as Regulation B?
A.) Truth-in-Lending
B.) Real Estate Settlement Procedures Act
C.) Equal Credit Opportunity Act
D.) Patriot Act - Correct answer C.) Equal Credit Opportunity Act
Which law prohibits discrimination by lenders?
A.) Truth-in-Lending
B.) Real Estate Settlement Procedures Act
,C.) Equal Credit Opportunity Act
D.) Patriot Act - Correct answer C.) Equal Credit Opportunity Act
A property sold for $200,000 and was appraised at $180,000. The borrower received a
loan for $150,000. What is the loan-to-value?
A.) 75%
B.) 83.3%
C.) 90%
D.) 92.4$ - Correct answer B.) 83.3%
How many days does a lender have to send an adverse action notice?
A.) 5
B.) 10
C.) 30
D.) 60 - Correct answer C.) 30
, The GFE/Loan Estimate must be mailed or given to the borrower within how many days
after rceiving the signed application?
A.) 3 business days
B.) 7 business days
C.) 10 business days
D.) 30 business days - Correct answer A.) 3 business days
The enforcement of a lien is known as:
A.) Closing
B.) Foreclosure
C.) Warranty inspection
D.) Police Action - Correct answer B.) Foreclosure
The minimum percentage of ownership in a related service required a conflict of
interest disclosure?
2027 Update) questions and answers 100%
Correct [Grade A]
Which of the following is NOT a characteristic of a Tenants in Common form of
ownership:
A.) Equal shares
B.) Buy at different times
C.) Right survivorship
D.) Ability to will share - Correct answer C.) Right survivorship
PITI payments do NOT include which of the following:
A.) Principle
B.) Funding Fee
C.) Hazard Insurance
D.) Interest - Correct answer B.) Funding Fee
,Who does Fannie Mae hold responsible for the quality of an appraisal?
A.) Appraiser
B.) Borrower
C.) Mortgage broker
D.) Lender - Correct answer D.) Lender
Which law is known as Regulation B?
A.) Truth-in-Lending
B.) Real Estate Settlement Procedures Act
C.) Equal Credit Opportunity Act
D.) Patriot Act - Correct answer C.) Equal Credit Opportunity Act
Which law prohibits discrimination by lenders?
A.) Truth-in-Lending
B.) Real Estate Settlement Procedures Act
,C.) Equal Credit Opportunity Act
D.) Patriot Act - Correct answer C.) Equal Credit Opportunity Act
A property sold for $200,000 and was appraised at $180,000. The borrower received a
loan for $150,000. What is the loan-to-value?
A.) 75%
B.) 83.3%
C.) 90%
D.) 92.4$ - Correct answer B.) 83.3%
How many days does a lender have to send an adverse action notice?
A.) 5
B.) 10
C.) 30
D.) 60 - Correct answer C.) 30
, The GFE/Loan Estimate must be mailed or given to the borrower within how many days
after rceiving the signed application?
A.) 3 business days
B.) 7 business days
C.) 10 business days
D.) 30 business days - Correct answer A.) 3 business days
The enforcement of a lien is known as:
A.) Closing
B.) Foreclosure
C.) Warranty inspection
D.) Police Action - Correct answer B.) Foreclosure
The minimum percentage of ownership in a related service required a conflict of
interest disclosure?
