A Georgia applicant completed prelicensing education in 2022 and never obtained a license or worked as a registered originator. How does that delay affect the validity of the pre-licensing education?
Correct Answer
A) The education expires after 3 years and 20 hours must be retaken
Prelicensing education expires if the individual fails to acquire a valid license or work as a registered loan originator within three years of initial completion, and an additional 20 hours of prelicensing education is then required. Other choices: the education does not stand indefinitely; the period is 3 years and the retake is 20 hours rather than 8; and no fee reactivates expired education. Source: Ga. Comp. R. & Regs. 80-11-5-.04(1)(f)(3)
Why This Is the Correct Answer
Prelicensing education expires if the individual fails to acquire a valid license or work as a registered loan originator within three years of initial completion, and an additional 20 hours of prelicensing education is then required. Other choices: the education does not stand indefinitely; the period is 3 years and the retake is 20 hours rather than 8; and no fee reactivates expired education. Source: Ga. Comp. R. & Regs. 80-11-5-.04(1)(f)(3)
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