UST Test Prep 1 Questions and Answers 2024

UST Test Prep 1 Questions and Answers 2024 A loan originator who applies to be licensed again must: - ANS ️️ complete the Continuing Education requirements for the last year in which the license was held A loan originator is: - ANS ️️ An individual who takes a residential mortgage loan application and offers or negotiates terms of a residential mortgage loan for compensation or gain All of the following are required to be licensed except: - ANS ️️ an individual negotiating a residential mortgage loan with or on behalf of an immediate family membe Which of the following is not considered a Federal Banking Agency? - ANS ️️ The Consumer Financial Protection Bureau The Regulatory Authority may impose penalties for each violation up to, and not exceeding: - ANS ️️ $25,000 The Unique Identifier, issued by NMLS, of any person originating a residential mortgage loan shall be clearly shown on all of the following except: - ANS ️️ on the company's front door A Mortgage Loan Originator is: - ANS ️️ any person who for compensation places a loan within this state for others Which of the following is not considered "prohibited conduct"? - ANS ️️ Making a costly error