Mlo practice exam - Study guides, Class notes & Summaries

MLO Practice Exam Question and answers already passed 2023/2024 There are five areas on the National Exam, which of the following is NOT one of those areas? Your Answer - correct answer State Regulations Which law was passed in 2010, which led to the creation of the CFPB, to help prevent another Great Recession? - correct answer Dodd Frank Wall Street Reform Act Which of the following is NOT a Prohibited Act? - correct answer Originating loans as a licensed MLO Which Mortgage Loan Ori...

MLO PRACTICE EXAM

All of the following information is provided under Section X of the 1003, except: a.) Ethnicity b.) Name and address of employer c.) Sex d.) Race - b.) Name and address of employer Section X of the URLA contains information on: a.) Assets and Liabilities b.) Information for Government Monitoring Purpose c.) Declarations d.) Details of transaction - b.) Information for Government Monitoring Purpose When determining the best options for a potential borrower, an MLO must always find what?...

All of the following information is provided under Section X of the 1003, except: a.) Ethnicity b.) Name and address of employer c.) Sex d.) Race - b.) Name and address of employer Section X of the URLA contains information on: a.) Assets and Liabilities b.) Information for Government Monitoring Purpose c.) Declarations d.) Details of transaction - b.) Information for Government Monitoring Purpose When determining the best options for a potential borrower, an MLO must always find what?

All of the following information is provided under Section X of the 1003, except: a.) Ethnicity b.) Name and address of employer c.) Sex d.) Race - Answer b.) Name and address of employer Section X of the URLA contains information on: a.) Assets and Liabilities b.) Information for Government Monitoring Purpose c.) Declarations d.) Details of transaction - Answer b.) Information for Government Monitoring Purpose When determining the best options for a potential borrower, an MLO must alw...

MLO PRACTICE EXAM questions with correct answer1

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All of the following information is provided under Section X of the 1003, except: a.) Ethnicity b.) Name and address of employer c.) Sex d.) Race Answer b.) Name and address of employer Section X of the URLA contains information on: a.) Assets and Liabilities b.) Information for Government Monitoring Purpose c.) Declarations d.) Details of transaction Answer b.) Information for Government Monitoring Purpose When determining the best options for a potential borrower, an MLO must...

All of the following information is provided under Section X of the 1003, except: a.) Ethnicity b.) Name and address of employer c.) Sex d.) Race - ️️b.) Name and address of employer Section X of the URLA contains information on: a.) Assets and Liabilities b.) Information for Government Monitoring Purpose c.) Declarations d.) Details of transaction - ️️b.) Information for Government Monitoring Purpose When determining the best options for a potential borrower, an MLO mu...