An MLO candidate is reviewing their options after failing the Uniform State Test. Which statement about retesting is most accurate?
Correct Answer
C) After three failures, they face a six-month waiting period
According to 12 CFR 1008.107(f), candidates face increasingly longer waiting periods: 30 days after the first and second failures, and six months after the third consecutive failure. There is no appeals process for test scores, and additional education is not required between retakes.
Why This Is the Correct Answer
According to 12 CFR 1008.107(f), candidates face increasingly longer waiting periods: 30 days after the first and second failures, and six months after the third consecutive failure. There is no appeals process for test scores, and additional education is not required between retakes.
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