P5-5 Quiz

Quiz Summary

0 of 6 Questions completed

Questions:

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

0 of 6 Questions answered correctly

Your time:

You have reached 0 of 0 point(s), (0)

Current
Review
Answered
Correct
Incorrect

Question 1 of 6

1. Question
Which action BEST reflects the NAMB principle of Honesty & Integrity?
- A) Quoting terms based solely on what will close the fastest
- B) Providing borrowers with clear, truthful information about loan terms
- C) Withholding unfavorable information unless the borrower asks
- D) Emphasizing sales volume over ethical responsibilities
Correct

Incorrect
Question 2 of 6

2. Question
Which situation BEST demonstrates Professional Conduct under the NAMB Code of Ethics?
- A) Frequently missing scheduled borrower appointments
- B) Using informal text messages as the only communication method
- C) Maintaining organized files and responding promptly and courteously to all parties
- D) Allowing personal opinions to dictate how files are handled
Correct

Incorrect
Question 3 of 6

3. Question
What does the NAMB principle of Honesty in Advertising require from members?
- A) Ensuring that all advertisements and solicitations are accurate
- B) Highlighting only teaser rates and omitting material conditions
- C) Using vague language so advertisements appeal to more borrowers
- D) Promoting products based solely on what competitors are offering
Correct

Incorrect
Question 4 of 6

4. Question
Under the NAMB Confidentiality principle, which action is REQUIRED of members?
- A) Sharing borrower information with any interested real estate agent
- B) Using borrower financial data in marketing materials without names
- C) Discussing a borrower’s file with friends as long as no documents are shown
- D) Protecting borrower information and avoiding any unauthorized disclosure
Correct

Incorrect
Question 5 of 6

5. Question
What does the NAMB principle of Compliance with Law require?
- A) Following federal law but disregarding state or local requirements
- B) Conducting business in compliance with all applicable laws and regulations
- C) Relying solely on investor guidelines instead of legal requirements
- D) Applying legal standards only when borrowers raise concerns
Correct

Incorrect
Question 6 of 6

6. Question
What is required of NAMB members regarding financial interests in collateral securing a loan?
- A) Avoid originating any loans where they have an ownership interest
- B) Disclose only large interests that exceed a set dollar threshold
- C) Disclose any equity or financial interest they may have in the collateral
- D) Keep any ownership interests confidential to avoid bias concerns
Correct

Incorrect

Quiz Summary

Information

Results

Results

Categories

1. Question

2. Question

3. Question

4. Question

5. Question

6. Question