A state requires 24 hours of pre-licensure education for MLOs, including the federal minimums plus an additional 4 hours of state-specific law. If a candidate completes exactly 20 hours covering all federal requirements, what must they do to obtain their license in this state?
Correct Answer
B) Complete 4 additional hours of state-specific law education
States may impose additional education requirements beyond the federal minimum of 20 hours. Since this state specifically requires 24 hours including 4 hours of state-specific law, the candidate must complete those additional 4 hours of state-specific education to meet the state's licensing requirements.
Why This Is the Correct Answer
States may impose additional education requirements beyond the federal minimum of 20 hours. Since this state specifically requires 24 hours including 4 hours of state-specific law, the candidate must complete those additional 4 hours of state-specific education to meet the state's licensing requirements.
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Previous Question
A loan originator completes 15 hours of pre-licensure education from an approved provider, then realizes 3 hours were duplicated from a previous course taken 6 months ago. How many additional hours must be completed to meet the requirement?
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During a state regulatory examination, an MLO refuses to provide access to certain loan files claiming attorney-client privilege. What is the likely outcome?