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Question 1 of 8

1. Question
A mortgage company employee performs only clerical support duties and works under the direction and supervision of a properly licensed mortgage loan originator. Under SAFE Act requirements, how is this individual generally treated?
- A) The individual must always obtain an MLO license
- B) The individual may perform clerical support duties without being licensed as an MLO
- C) The individual must obtain a real estate license
- D) The individual must become an independent contractor
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Question 2 of 8

2. Question
A staff member gathers documents, organizes files, and provides administrative assistance to a licensed mortgage loan originator. What type of activity is being performed?
- A) Support services for a loan originator
- B) Loan origination activity
- C) Loan term negotiation
- D) Real estate brokerage activity
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Question 3 of 8

3. Question
An individual is registered with the NMLSR and is employed by a federally covered financial institution. Which statement best describes this individual’s status?
- A) The individual must obtain a state MLO license in every circumstance
- B) The individual is considered a registered mortgage loan originator employed by a covered financial institution
- C) The individual is exempt from all SAFE Act requirements
- D) The individual is considered a real estate broker
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Question 4 of 8

4. Question
An employee works exclusively for a bona fide nonprofit organization that assists consumers with housing-related services. Which category is specifically referenced on this page?
- A) Independent contractor processor
- B) State-licensed mortgage loan originator
- C) Employee of a bona fide nonprofit organization
- D) Real estate broker
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Question 5 of 8

5. Question
Before an individual may legally act as a mortgage loan originator, which requirement must be satisfied?
- A) The individual must obtain an FHA approval number
- B) The individual must become a licensed real estate agent
- C) The individual must complete the licensing process and obtain an NMLS Unique Identifier
- D) The individual must complete annual continuing education first
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Question 6 of 8

6. Question
A mortgage loan originator receives a state license but later allows it to lapse. Which SAFE Act requirement is no longer being satisfied?
- A) The requirement to maintain a state license
- B) The requirement to advertise services
- C) The requirement to work for a nonprofit organization
- D) The requirement to become a processor
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Question 7 of 8

7. Question
A consumer provides financial information to an individual who completes a residential mortgage loan application on the consumer’s behalf. Which SAFE Act activity is being performed?
- A) Clerical support duties
- B) Completing a residential mortgage loan application
- C) Real estate brokerage activity
- D) Loan servicing
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Question 8 of 8

8. Question
An individual discusses mortgage programs with a borrower and offers specific loan terms in exchange for compensation. Which SAFE Act activity is being performed?
- A) Clerical support activity
- B) Loan processing
- C) Real estate brokerage
- D) Offering or negotiating loan terms for compensation
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