NMLS Practice Test Hard Exam
Questions And Answers 2025|2026
Verified Graded A+ Already Passed!
A VA appraisal is known as a:
A.) CRV
B.) Veteran's appraisal report
C.) Fannie Mae 1025
D.) AVA - CORRECT ANSWER-A.) CRV
Fannie Mae's automated underwriting system is known as:
A.) Fannie Mannie
B.) Software Helper
C.) Desktop Underwriter
D.) Loan Prospector - CORRECT ANSWER-C.) Desktop Underwriter
,There are 10 days left in the month. The purchase price is $150,000, the
loan amount is $100,000 and the interest rate is 6%. How much
mortgage interest must the borrower pay at closing?
A.) $164.38
B.) $250.00
C.) $440.20
D.) $2,739.73 - CORRECT ANSWER-A.) $164.38
100,000 x .06 (6%) = days = 16.438 x 10days = $164.38
Private Mortgages Insurance is automatically canceled when the loan-
to-value reaches what level?
A.) 55%
B.) 70%
C.) 78%
D.) 80% - CORRECT ANSWER-C.) 78%
,Which types of loans are meant for rural areas?
A.) VA
B.) FHA
C.) USDA
D.) RAL - CORRECT ANSWER-C.) USDA
The purchase price of a home is $200,000 and the loan amount is
$180,000. The borrower pays 6% interest with 1 discount point and 1
origination point. What is the cost of the points?
A.) $1,800
B.) $2,000
C.) $3,600
D.) $4,000 - CORRECT ANSWER-C.) $3,600
The key to this question is POINTS last time i accidentally added the 6%
interest. There is 2 points so $180,000 x .02 = $3,600
, If the Gross Rent Multiplier (GRM) decreases, the property value:
A.) Increases
B.) Decreases
C.) Does not change
D.) Can increase or decrease - CORRECT ANSWER-B.) Decreases
What is the maximum allowable amount of VA seller concessions?
A.) 2%
B.) 3%
C.) 4%
D.) 5% - CORRECT ANSWER-C.) 4%
When a property increases in value for any reason this is known as:
A.) Acceleration
B.) Appreciation
C.) Accumulation
Questions And Answers 2025|2026
Verified Graded A+ Already Passed!
A VA appraisal is known as a:
A.) CRV
B.) Veteran's appraisal report
C.) Fannie Mae 1025
D.) AVA - CORRECT ANSWER-A.) CRV
Fannie Mae's automated underwriting system is known as:
A.) Fannie Mannie
B.) Software Helper
C.) Desktop Underwriter
D.) Loan Prospector - CORRECT ANSWER-C.) Desktop Underwriter
,There are 10 days left in the month. The purchase price is $150,000, the
loan amount is $100,000 and the interest rate is 6%. How much
mortgage interest must the borrower pay at closing?
A.) $164.38
B.) $250.00
C.) $440.20
D.) $2,739.73 - CORRECT ANSWER-A.) $164.38
100,000 x .06 (6%) = days = 16.438 x 10days = $164.38
Private Mortgages Insurance is automatically canceled when the loan-
to-value reaches what level?
A.) 55%
B.) 70%
C.) 78%
D.) 80% - CORRECT ANSWER-C.) 78%
,Which types of loans are meant for rural areas?
A.) VA
B.) FHA
C.) USDA
D.) RAL - CORRECT ANSWER-C.) USDA
The purchase price of a home is $200,000 and the loan amount is
$180,000. The borrower pays 6% interest with 1 discount point and 1
origination point. What is the cost of the points?
A.) $1,800
B.) $2,000
C.) $3,600
D.) $4,000 - CORRECT ANSWER-C.) $3,600
The key to this question is POINTS last time i accidentally added the 6%
interest. There is 2 points so $180,000 x .02 = $3,600
, If the Gross Rent Multiplier (GRM) decreases, the property value:
A.) Increases
B.) Decreases
C.) Does not change
D.) Can increase or decrease - CORRECT ANSWER-B.) Decreases
What is the maximum allowable amount of VA seller concessions?
A.) 2%
B.) 3%
C.) 4%
D.) 5% - CORRECT ANSWER-C.) 4%
When a property increases in value for any reason this is known as:
A.) Acceleration
B.) Appreciation
C.) Accumulation
