A sponsorship reviewer handling an Arizona record-retention audit needs the compliant answer for sponsorship and employment status. What should the reviewer choose?
Correct Answer
D) Arizona loan originator application fees are nonrefundable, and AZDIFI lists a $350 new application fee plus $100 if the employer lacks a loan originator surety bond and a prorated license fee.
Arizona loan originator application fees are nonrefundable, and AZDIFI lists a $350 new application fee plus $100 if the employer lacks a loan originator surety bond and a prorated license fee. Arizona loan originator application fees are nonrefundable, and AZDIFI lists a $350 new application fee plus $100 if the employer does not have a loan originator surety bond and a prorated license fee by submission date.
Why This Is the Correct Answer
Arizona loan originator application fees are nonrefundable, and AZDIFI lists a $350 new application fee plus $100 if the employer lacks a loan originator surety bond and a prorated license fee. Arizona loan originator application fees are nonrefundable, and AZDIFI lists a $350 new application fee plus $100 if the employer does not have a loan originator surety bond and a prorated license fee by submission date.
Why the Other Options Are Wrong
Option A: Apply the rule only after the Arizona regulator has already opened an examination.
Apply the rule only after the Arizona regulator has already opened an examination. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option B: Skip the Arizona requirement because the company already follows general SAFE Act procedures.
Skip the Arizona requirement because the company already follows general SAFE Act procedures. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Treat sponsorship and employment status as optional because the company has a general Arizona compliance policy.
Treat sponsorship and employment status as optional because the company has a general Arizona compliance policy. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
AZ -> az-bond-recovery-fund-and-fees
Exam Tip
Arizona application fees are nonrefundable and can include the $100 bond-related charge.
Common Mistakes to Avoid
- -Using a national baseline answer when Arizona has a state-specific rule
- -Confusing NMLS registration, Arizona licensure, and employer authority
- -Treating an exemption, temporary license, or bond rule as broader than written
More UST Questions
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