A Colorado MLO file raises a question about continuing education and renewal. What should the reviewer choose?
Correct Answer
A) Colorado annual CE is 8 hours composed of 3 hours federal law, 2 hours ethics, 2 hours nontraditional mortgage lending, and 1 undefined elective hour.
Colorado annual CE is 8 hours composed of 3 hours federal law, 2 hours ethics, 2 hours nontraditional mortgage lending, and 1 undefined elective hour.
Why This Is the Correct Answer
Colorado annual CE is 8 hours composed of 3 hours federal law, 2 hours ethics, 2 hours nontraditional mortgage lending, and 1 undefined elective hour.
Why the Other Options Are Wrong
Option B: Treat continuing education and renewal as satisfied by borrower consent alone.
Treat continuing education and renewal as satisfied by borrower consent alone. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Delay the Colorado requirement until after the loan closes or the renewal period ends.
Delay the Colorado 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 D: 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.
Memory Technique
CO -> co-application-education-testing-and-renewal
Exam Tip
For Colorado education questions, remember 20 PE hours with 2 Colorado law hours and 8 CE hours with no regular Colorado-specific annual CE hour.
Common Mistakes to Avoid
- -Using a national baseline answer when Colorado has a state-specific rule
- -Confusing NMLS workflow, Colorado E-license workflow, DRE guidance, and CCR requirements
- -Treating temporary authority, inactive status, or exemptions as blanket permission
More UST Questions
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