An MLO candidate passes the national test but fails the state test twice. They then pass the state test on the third attempt after the national test has been valid for 11 months. What must they do?
Correct Answer
A) Proceed with licensing since both tests are now passed
Test scores are valid for the duration specified by regulation (typically several years). As long as both tests are passed and still within their validity period, the candidate can proceed with licensing regardless of how close to expiration they are.
Why This Is the Correct Answer
Test scores are valid for the duration specified by regulation (typically several years). As long as both tests are passed and still within their validity period, the candidate can proceed with licensing regardless of how close to expiration they are.
More UST Questions
If a state regulatory authority finds violations during an examination, what factors typically influence the severity of enforcement action?
Under the SAFE Act, an individual who works for a federally chartered bank and takes mortgage applications must:
An MLO under investigation claims that certain requested documents are protected by attorney-client privilege because they were prepared in consultation with legal counsel. How should the state regulator respond?
Which scenario represents the MOST serious violation of appraisal independence requirements?
An MLO's license is suspended for 6 months, but after 3 months, the MLO demonstrates completion of remedial actions. Can the regulator lift the suspension early?
People Also Study
Federal Mortgage-Related Laws
23% of exam
General Mortgage Knowledge
23% of exam
Mortgage Loan Origination Activities
25% of exam
Ethics, Fraud & Consumer Protection
17% of exam