Uniform State Content Test Questions: Practice for SAFE
MLO State-Specific Exam
A loan modification refers to - correct answer ✔✔changing the terms of an existing loan
A licensed mortgage loan originator who is in charge of, and responsible for, the operation of
the branch office of a mortgage broker or mortgage lender is referred to as the - correct answer
✔✔branch manager
A loan originator is an individual who - correct answer ✔✔for compensation or gain, takes
residential mortgage loan applications; or offers or negotiates terms of residential mortgage
loans
Mavis made an initial application for a MLO license. She submitted the proper application fee
payment. She included her fingerprint images for the criminal background check as well as her
unique identifier obtained from the National Registry. She completed the 20 hours of approved
pre-licensing education and received a score of 90% on the MLO written test. Her application
was returned to her as deficient because she failed to submit a required component. What was
Mavis missing? - correct answer ✔✔personal history and experience form with authorization
for credit check
Which of the following is an acceptable condition on which to base a mortgage loan originator's
compensation? - correct answer ✔✔a fixed percentage of the loan amount
According to the SAFE Act, which would be considered a task that would require someone to be
a licensed MLO? - correct answer ✔✔assisting a borrower in obtaining a mortgage loan by
offering to negotiate terms with a lender.
Which form documents the commission paid to a real estate broker? - correct answer
✔✔Closing Disclosure
MLO State-Specific Exam
A loan modification refers to - correct answer ✔✔changing the terms of an existing loan
A licensed mortgage loan originator who is in charge of, and responsible for, the operation of
the branch office of a mortgage broker or mortgage lender is referred to as the - correct answer
✔✔branch manager
A loan originator is an individual who - correct answer ✔✔for compensation or gain, takes
residential mortgage loan applications; or offers or negotiates terms of residential mortgage
loans
Mavis made an initial application for a MLO license. She submitted the proper application fee
payment. She included her fingerprint images for the criminal background check as well as her
unique identifier obtained from the National Registry. She completed the 20 hours of approved
pre-licensing education and received a score of 90% on the MLO written test. Her application
was returned to her as deficient because she failed to submit a required component. What was
Mavis missing? - correct answer ✔✔personal history and experience form with authorization
for credit check
Which of the following is an acceptable condition on which to base a mortgage loan originator's
compensation? - correct answer ✔✔a fixed percentage of the loan amount
According to the SAFE Act, which would be considered a task that would require someone to be
a licensed MLO? - correct answer ✔✔assisting a borrower in obtaining a mortgage loan by
offering to negotiate terms with a lender.
Which form documents the commission paid to a real estate broker? - correct answer
✔✔Closing Disclosure
