FLORIDA MORTGAGE LOAN OFFICER EXAM 2024/2025 COMPLETE
ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS
(VERIFIED ANSWERS ) ALREADY GRADED A+.
Florida Office of Financial Regulation (OFR or the Office) Does what?
- ANSWER-oversees all financial institutions in the state of Florida.
Within the Office, there are three Divisions
What are the the three divisions in the OFR ? - ANSWER-The Division
of Finance, the Division of Financial Institutions, and the Division of
Securities.
The Division of Finance (the Division) Does what ? – ANSWER-
oversees the regulation of non-depository financial services
professionals including mortgage loan originators,mortgage brokers,
and mortgage lenders, as well as collection agencies, consumer
finance companies, retail installment sales, money services
businesses and title loan companies.
The Division of Financial Institutions is the sector of the Office that
regulates what ? - ANSWER-state-chartered financial institutions,
including state-chartered commercial banks, credit unions, savings
associations, savings banks, credit card banks, non-deposit trust
companies, and state-licensed international banking agencies, branch
offices, representative offices and administrative offices
The Florida Office of Financial Regulation was created by The Florida
,Office of Financial Regulation was created by ? - ANSWER-section
20.121(3), Florida Statutes
The mission of the Office is - ANSWER-Protecting the citizens of
Florida by carrying out the banking, securities and financial laws of
the state efficiently and effectively and providing regulation of
business that promotes the sound growth and development of
Florida's economy
The Financial Services Commission (the Commission) is the agency
head of who and the Rulemaking body ? - ANSWER-Florida office of
financial regulation
The Commission is comprised of who? - ANSWER-the Governor, the
Chief Financial Officer, the Attorney General, and the Agriculture
Commissioner
The Financial Services Commission appoints Who ? - ANSWER-the
Director of the OFR, who is the agency head for purposes of final
agency action and for all areas delegated to the Director's office
The Director, sometimes called "Commissioner Does what ? -
ANSWER-supervises, directs, coordinates, and administers all
activities of the OFR.
The Director of the OFR has a Chief-of-Staff (COS) who reports to
them? - ANSWER-Communications Director and OFR's three
,divisions and an independent bureau: the Division of Finance; the
Division of Securities; the Division of Financial Institutions; and the
Bureau of Financial Investigations
The OFR's headquarters is located in ? - ANSWER-Tallahassee
The Office of the Director includes? - ANSWER-the Chief of Staff, the
Office of Legal Services, the Inspector General, the Director of
Legislative and Cabinet Affairs, the Planning and Budget
Administrator, and the Director of Communications
The Office of General Counsel does what ? - ANSWER-Provides legal
support of the OFR's daily operations and represents the OFR in all
administrative and judicial proceedings in administrative forums and
courts
The Office of Inspector General does what? - ANSWER-Provides the
agency with a central point for coordination of and responsibility for
activities that promote accountability, integrity, and efficiency in
government. The Inspector General serves as the chief internal
auditor and directs the agency's internal audit program and conducts
internal investigations.
The Director of Legislative and Cabinet Affairs does what ? -
ANSWER-Oversees the agency's legislative activities, including
, advancing its legislative initiatives, responding to requests for bill
analyses, and assisting legislators with constituent issues.
The Planning and Budget Administrator does what ? – ANSWER-
Oversees the agency budget, including coordination of the
preparation of the annual Legislative Budget Request. The
administrator also monitors the agency's progress during the year
related to operating expenditures and performance measurement.
The Communications Director does what ? - ANSWER-Responsible
for all media relations, internal communications, community relations
and outreach.
The Division consists of the following functional areas? - ANSWER-
Bureau of Finance Regulation
Bureau of Money Transmitter Regulation
Bureau of Regulatory Review
Director's Office - Budget, Fiscal and Technology Unit
The Bureau of Regulatory Review reviews applications for ? -
ANSWER-licensure and registration from individuals and businesses
regulated by the Division and determines if applicants meet minimum
qualifications required by statutes.
The Bureau of Regulatory Review also monitors? – ANSWER-
compliance with ongoing licensing compliance filings, amendment
filings, and the processing of license and registration renewals.
