EstatePass
USThard11% of exam

An Alabama state compliance officer is reviewing a company policy update tied to licensing and NMLS authority. Which rule should be applied?

Correct Answer

D) Alabama licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Alabama licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Answer Options
A
Use a verbal explanation instead of the required license status, disclosure, record, or filing.
B
Use a record-retention audit exception instead of satisfying the rule before activity continues.
C
Close or renew first, then decide whether the record-retention audit needs a compliance correction.
D
Alabama licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Why This Is the Correct Answer

Alabama licensees must keep mortgage books, records, files, or NMLS records available as required by state law or regulator guidance.

Was this explanation helpful?

More UST Questions

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