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Question 1 of 10
1. Question
A mortgage professional regularly recommends specific mortgage products and refers borrowers to particular loan programs while expecting compensation for those activities. Under the SAFE Act, which statement is correct?
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Question 2 of 10
2. Question
An applicant for an MLO license previously had a mortgage loan originator license revoked. Which licensing requirement is affected?
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Question 3 of 10
3. Question
An applicant was convicted of a felony five years ago. Which SAFE Act licensing issue must be considered?
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Question 4 of 10
4. Question
A state regulator reviews whether an applicant is financially responsible and demonstrates honesty, integrity, and competence. Which licensing standard is being evaluated?
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Question 5 of 10
5. Question
Before receiving an MLO license, an applicant must complete education requirements and successfully pass which additional requirement?
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Question 6 of 10
6. Question
A mortgage loan originator uses false documents and misleading information to deceive consumers during the loan process. Which prohibited act has occurred?
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Question 7 of 10
7. Question
A mortgage company intentionally misleads consumers about loan costs and product features. Which prohibited practice has occurred?
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Question 8 of 10
8. Question
An individual intentionally commits fraud in order to obtain money or property from another person. Which SAFE Act prohibited act applies?
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Question 9 of 10
9. Question
A company charges a borrower an upfront fee for obtaining a loan but never actually secures financing for the borrower. Which prohibited practice has occurred?
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Question 10 of 10
10. Question
A mortgage advertisement promotes a specific interest rate and APR that are not actually available when consumers respond to the advertisement. Which prohibited act has occurred?
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