What must each person subject to Delaware’s MLO chapter do with books and records upon the Commissioner’s request?
Correct Answer
A) Make all books and records relating to business operations available
Delaware section 2417 requires each person subject to the chapter to make available upon request all books and records relating to business operations.
Why This Is the Correct Answer
Delaware section 2417 requires each person subject to the chapter to make available upon request all books and records relating to business operations.
Why the Other Options Are Wrong
Option B: Destroy outdated records immediately
Destruction is the opposite of making records available.
Option C: Provide only records the person considers favorable
The requirement is not limited to favorable records.
Option D: Provide only documents already posted publicly
The requirement is not limited to public documents.
Memory Technique
DE-C040 -> Delaware-prohibited-acts-and-enforcement
Exam Tip
Upon request, business books and records must be made available.
Common Mistakes to Avoid
- -Importing another state requirement into Delaware
- -Confusing NMLS baseline requirements with Delaware-specific rules
- -Treating operational assumptions as legal authority
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