WGU D335 ACTUAL EXAM PAPER 2026
QUESTIONS WITH ANSWERS GRADED A+
◍ How many months of property taxes and homeowners insurance can a
lender hold in a borrower's escrow account above and beyond the amount
required to pay the bills when due?
A. 1 month
B. 6 months
C. 2 months
D. 3 months.
Answer: C
◍ What percentage of the loan amount do borrowers pay for each discount
point charged?
A. 1/8%
B. 1%
C. 1.5%
D. 2%.
Answer: B
◍ What is the minimum number of continuing education hours that Mortgage
Loan Originators need to complete during each renewal period under federal
law?
A. Six
B. Eight
C. 10
D. 12.
Answer: B
◍ If a borrower is improperly required to use a specific title company or
settlement agent, the maximum penalty to the violator is equal to the amount
, of the improperly required fee.
A. 2 times
B. 3 times
C. 5 times
D. 10 times.
Answer: B
◍ Before a loan originator candidate is licensed, how many hours of
pre-license ethics training must she or he complete?
A. 20 hours.
B. 10 hours.
C. 3 hours.
D. 2 hours..
Answer: C
◍ Which of the following features would ensure that the loan in question could
never achieve Qualified Mortgage (QM) status?
A. An adjustable rate
B. A prepayment penalty
C. Negative amortization
D. Full documentation of income and assets.
Answer: C
◍ On a reverse mortgage loan application, which of the following disclosures
is required to be provided to the borrower within three business days of
application according to Regulation X?
A. Truth-in-Lending Disclosure
B. HUD-1 Settlement Statement
C. Good Faith Estimate
D. Loan Estimate.
Answer: C
◍ Due to instability brought on by the financial crisis of 2007-2008, both
Fannie Mae and Freddie Mac were eventually put:
A. in a non-profit status
, B. into bankruptcy
C. into conservatorship
D. under HUD control.
Answer: C
◍ Which of the following items would be an acceptable gift for a mortgage
broker to provide his/her clients at the closing of their first home?
A. A $40 bottle of wine
B. A $100 gift card to a furniture store
C. Any of these items would be acceptable
D. A bouquet of flowers.
Answer: C
◍ When a lease is being used to calculate rental income on a property, a
vacancy/maintenance factor in the amount of must be applied.
A. 25%
B. 75%
C. 90%
D. 10%.
Answer: A
◍ Which of the following would you NOT expect to see in a fraud for property
scam?
A. Altered paystubs to show more income
B. An artificially inflated appraisal
C. A fake verification of employment
D. Tampering with bank statements to show more funds available than
areactually in the account.
Answer: B
◍ Under the Dodd-Frank Act, which of the following methods of
compensation would be legal?
A. An MLO is paid a base salary on a bi-weekly basis
B. An MLO who is not also an owner of the company is given stock options
in the company when a loan results in at least $5,000 gross profit.
, C. An MLO is paid 1% of the loan amount for all FHA ARM loans over
$150,000 and 1.5% of the loan amount for FHA Fixed rate loans under
$150,000.
D. An MLO receives a $50 gas card in addition to her base compensation,
but only for loans where the interest rate provided to the borrower is at least
0.5% higher than the base rate..
Answer: A
◍ Create a solution that accepts an integer input. Import the built-in module
math and use its factorial() method to calculate the factorial of the integer
input. Output the value of the factorial, as well as a Boolean value
identifying whether the factorial output is greater than 100.The solution
output should be in the formatfactorial_value Boolean_value.
Answer: import mathnum= int(input())factorial_value =
math.factorial(num)print(factorial_value)if factorial_value >
100:Boolean_value = Trueprint(Boolean_value)else:Boolean_value =
Falseprint(Boolean_value)
◍ Which of the following fees or charges is included in the finance charge?
A. Escrow deposits
B. Appraisal fees
C. Pest inspection fees
D. Mortgage insurance premiums.
Answer: D
◍ A borrower with Gross Monthly Income of $2,567 per month applying for a
loan with a PITI of $567.87 and total other long-term obligations of $456.00
would have a monthly debt-to-income ("bottom" or "back-end") qualifying
ratio of
A. 17.9%
B. 39.9%
C. 49.4%
D. 22.1%.
Answer: B
QUESTIONS WITH ANSWERS GRADED A+
◍ How many months of property taxes and homeowners insurance can a
lender hold in a borrower's escrow account above and beyond the amount
required to pay the bills when due?
A. 1 month
B. 6 months
C. 2 months
D. 3 months.
Answer: C
◍ What percentage of the loan amount do borrowers pay for each discount
point charged?
A. 1/8%
B. 1%
C. 1.5%
D. 2%.
Answer: B
◍ What is the minimum number of continuing education hours that Mortgage
Loan Originators need to complete during each renewal period under federal
law?
A. Six
B. Eight
C. 10
D. 12.
Answer: B
◍ If a borrower is improperly required to use a specific title company or
settlement agent, the maximum penalty to the violator is equal to the amount
, of the improperly required fee.
A. 2 times
B. 3 times
C. 5 times
D. 10 times.
Answer: B
◍ Before a loan originator candidate is licensed, how many hours of
pre-license ethics training must she or he complete?
A. 20 hours.
B. 10 hours.
C. 3 hours.
D. 2 hours..
Answer: C
◍ Which of the following features would ensure that the loan in question could
never achieve Qualified Mortgage (QM) status?
A. An adjustable rate
B. A prepayment penalty
C. Negative amortization
D. Full documentation of income and assets.
Answer: C
◍ On a reverse mortgage loan application, which of the following disclosures
is required to be provided to the borrower within three business days of
application according to Regulation X?
A. Truth-in-Lending Disclosure
B. HUD-1 Settlement Statement
C. Good Faith Estimate
D. Loan Estimate.
Answer: C
◍ Due to instability brought on by the financial crisis of 2007-2008, both
Fannie Mae and Freddie Mac were eventually put:
A. in a non-profit status
, B. into bankruptcy
C. into conservatorship
D. under HUD control.
Answer: C
◍ Which of the following items would be an acceptable gift for a mortgage
broker to provide his/her clients at the closing of their first home?
A. A $40 bottle of wine
B. A $100 gift card to a furniture store
C. Any of these items would be acceptable
D. A bouquet of flowers.
Answer: C
◍ When a lease is being used to calculate rental income on a property, a
vacancy/maintenance factor in the amount of must be applied.
A. 25%
B. 75%
C. 90%
D. 10%.
Answer: A
◍ Which of the following would you NOT expect to see in a fraud for property
scam?
A. Altered paystubs to show more income
B. An artificially inflated appraisal
C. A fake verification of employment
D. Tampering with bank statements to show more funds available than
areactually in the account.
Answer: B
◍ Under the Dodd-Frank Act, which of the following methods of
compensation would be legal?
A. An MLO is paid a base salary on a bi-weekly basis
B. An MLO who is not also an owner of the company is given stock options
in the company when a loan results in at least $5,000 gross profit.
, C. An MLO is paid 1% of the loan amount for all FHA ARM loans over
$150,000 and 1.5% of the loan amount for FHA Fixed rate loans under
$150,000.
D. An MLO receives a $50 gas card in addition to her base compensation,
but only for loans where the interest rate provided to the borrower is at least
0.5% higher than the base rate..
Answer: A
◍ Create a solution that accepts an integer input. Import the built-in module
math and use its factorial() method to calculate the factorial of the integer
input. Output the value of the factorial, as well as a Boolean value
identifying whether the factorial output is greater than 100.The solution
output should be in the formatfactorial_value Boolean_value.
Answer: import mathnum= int(input())factorial_value =
math.factorial(num)print(factorial_value)if factorial_value >
100:Boolean_value = Trueprint(Boolean_value)else:Boolean_value =
Falseprint(Boolean_value)
◍ Which of the following fees or charges is included in the finance charge?
A. Escrow deposits
B. Appraisal fees
C. Pest inspection fees
D. Mortgage insurance premiums.
Answer: D
◍ A borrower with Gross Monthly Income of $2,567 per month applying for a
loan with a PITI of $567.87 and total other long-term obligations of $456.00
would have a monthly debt-to-income ("bottom" or "back-end") qualifying
ratio of
A. 17.9%
B. 39.9%
C. 49.4%
D. 22.1%.
Answer: B
