An Arizona file is paused during a supervisory file review because of continuing education and renewal. Which statement clears the compliance question?
Correct Answer
A) Arizona PE requires 20 hours within 3 years before application, including 3 federal law, 3 ethics, 2 nontraditional mortgage product, and 4 Arizona law hours.
Arizona PE requires 20 hours within 3 years before application, including 3 federal law, 3 ethics, 2 nontraditional mortgage product, and 4 Arizona law hours. Arizona PE requires at least 20 hours completed within the 3-year period before application, including 3 hours federal law, 3 hours ethics, 2 hours nontraditional mortgage products, and 4 hours Arizona law.
Why This Is the Correct Answer
Arizona PE requires 20 hours within 3 years before application, including 3 federal law, 3 ethics, 2 nontraditional mortgage product, and 4 Arizona law hours. Arizona PE requires at least 20 hours completed within the 3-year period before application, including 3 hours federal law, 3 hours ethics, 2 hours nontraditional mortgage products, and 4 hours Arizona law.
Why the Other Options Are Wrong
Option B: Delay the Arizona requirement until after the loan closes or the renewal period ends.
Delay the Arizona requirement until after the loan closes or the renewal period ends. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Treat consumer consent as a cure for a prohibited or missing compliance step.
Treat consumer consent as a cure for a prohibited or missing compliance step. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option D: Treat the timing or filing requirement as optional if the transaction appears low risk.
Treat the timing or filing requirement as optional if the transaction appears low risk. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
AZ -> az-application-education-testing-and-renewal
Exam Tip
Arizona PE is 20 total with a 4-hour Arizona law component.
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
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