EstatePass
USTmedium11% of exam

A North Carolina applicant in 2026 says it has supplied everything the rules list. May the Commissioner require information beyond the items expressly listed in the rules?

Correct Answer

A) The Commissioner may still require additional information

In addition to the documents and information required by the rules in the subchapter, the Commissioner may require additional information to determine that the applicant meets or continues to meet the requirements of the Act. Other choices: the power is express; it is not confined to renewal; and it is not confined to entities. Source: 04 NCAC 03M .0201(b)

Answer Options
A
The Commissioner may still require additional information
B
Additional information may be required only from corporate applicants
C
The application is complete, because the rules set out what an applicant must provide and a regulator is bound by the list that its own rules establish
D
Additional information may be required only at renewal

Why This Is the Correct Answer

In addition to the documents and information required by the rules in the subchapter, the Commissioner may require additional information to determine that the applicant meets or continues to meet the requirements of the Act. Other choices: the power is express; it is not confined to renewal; and it is not confined to entities. Source: 04 NCAC 03M .0201(b)

Was this explanation helpful?

More UST Questions

A Washington broker provides the federal settlement service estimates and booklet in 2026 and no separate state itemization. Can disclosures compliant with RESPA and Regulation X satisfy the state third-party itemization subsection?

Priya is comparing pre-license education providers before applying for a Florida mortgage loan originator license. How many hours of approved pre-license education must she complete in total?

An applicant is budgeting for a Florida MLO license and asks what the state application fee comes to at filing. Which figure is correct?

A newly sponsored Florida MLO is told she must buy an individual surety bond in her own name before she can originate. Is that correct?

A Washington consumer loan act licensee also brokers loans in 2026 outside the authority of that act. Does the consumer-loan-act exemption extend to mortgage brokerage outside that act’s authority?

A $200,000 Texas home equity loan has $3,700 in fees subject to the constitutional cap and a separate $600 fee for an appraisal performed by a third-party appraiser. Do the capped fees exceed the limit?

An owner applies for a Texas home equity loan on 4 May 2026 and the lender delivers the required notice on 8 May. Which date starts the constitutional 12-day waiting period for closing?

An owner closed a Texas home equity loan on 3 February 2026 and wants a second one on the same homestead in November 2026. Assuming no declared-emergency exception applies and the earlier home equity lien will be paid off, may the new loan close in November?

A Texas home equity loan forecloses and the sale leaves the lender $62,000 short of the balance owed. Absent actual fraud in obtaining the credit, may the lender recover the shortfall personally from the owner or spouse?

A Washington real estate broker helps a 2026 buyer arrange financing and takes only the usual sales commission. Does financing assistance incidental to a bona fide sale for only the customary real-estate commission fall within the exemption?

People Also Study

Related Study Resources

Practice More MLO Questions

Access all practice questions with progress tracking and adaptive difficulty to pass your SAFE MLO exam.

Start Practicing