An MLO candidate fails the state test with a score of 72% on their third attempt. How long must they wait before taking the test again?
Correct Answer
C) 6 months from the date of the third failed attempt
Under the SAFE Act, after failing the test three consecutive times, a candidate must wait at least 6 months from the date of the last failed attempt before retaking the test, not from the first attempt.
Why This Is the Correct Answer
Under the SAFE Act, after failing the test three consecutive times, a candidate must wait at least 6 months from the date of the last failed attempt before retaking the test, not from the first attempt.
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Previous Question
An MLO transitions from a federal savings bank to a state-licensed mortgage broker on January 15th and submits a complete state license application on February 10th. If no decision is made by the state, when does temporary authority expire?
Next Question
Maria passes the national test with 78% but fails the state test with 73%. She then retakes and passes the state test with 76%. What is her status regarding MLO licensing?