During a Delaware investigation, what may the Commissioner do regarding testimony?
Correct Answer
D) Direct, subpoena, or order attendance and examine persons under oath
Delaware section 2417 permits the Commissioner to direct, subpoena, or order attendance and examine under oath persons whose testimony is required.
Why This Is the Correct Answer
Delaware section 2417 permits the Commissioner to direct, subpoena, or order attendance and examine under oath persons whose testimony is required.
Why the Other Options Are Wrong
Option A: Only ask written questions with no oath
The authority includes under-oath examination.
Option B: Only interview the borrower if the MLO consents
The statute does not make borrower or witness examination depend only on MLO consent.
Option C: Only rely on anonymous online reviews
The Commissioner is not limited to anonymous online reviews.
Memory Technique
DE-C040 -> Delaware-prohibited-acts-and-enforcement
Exam Tip
Subpoena and oath authority are explicit in Delaware.
Common Mistakes to Avoid
- -Importing another state requirement into Delaware
- -Confusing NMLS baseline requirements with Delaware-specific rules
- -Treating operational assumptions as legal authority
More UST Questions
In a pricing desk question, an audit analyst sees facts tied to Prohibited Misrepresentation. What should the file reflect?
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Which statement correctly distinguishes a license suspension from a license revocation?
A state regulator has issued an order suspending an MLO's authority effective immediately. The MLO has filed an appeal, but no stay has been granted. What should the MLO do?
An MLO license application asks whether the applicant has been the subject of a regulatory order. The applicant has a recent consent order that falls within the question. What is the proper response?
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A regulator finds that an MLO charged consumers prohibited fees. Which set of actions is consistent with the enforcement tools contemplated by Regulation H?
An MLO's license status in NMLS changes to suspended, with no stay or reinstatement shown. What is the immediate operational effect?
Which fact most directly supports disciplinary action against an MLO rather than merely a request for additional application information?
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