A former Georgia licensee spent exactly three of the six years since the state license lapsed working as a registered bank originator. How is that registered employment treated when calculating the lapse for continuing education and testing requirements?
Correct Answer
D) Those 3 years do not count toward the lapse period being measured
If a person has worked as a registered loan originator at any time during the lapsed license period, that time does not count toward the calculation of the period for the continuing education and testing requirements. Other choices: counting the 3 years is the opposite of what the rule says; a full reset is not provided for; and the charter of the bank is not the distinction. Source: Ga. Comp. R. & Regs. 80-11-5-.04(1)(f)(2)
Why This Is the Correct Answer
If a person has worked as a registered loan originator at any time during the lapsed license period, that time does not count toward the calculation of the period for the continuing education and testing requirements. Other choices: counting the 3 years is the opposite of what the rule says; a full reset is not provided for; and the charter of the bank is not the distinction. Source: Ga. Comp. R. & Regs. 80-11-5-.04(1)(f)(2)
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