A Delaware MLO license is surrendered, suspended, canceled, or revoked before the license period expires. What does Delaware Code say about abatement of the license fee?
Correct Answer
C) No abatement is made
Delaware Code states that no abatement is made if the license is surrendered, suspended, canceled, or revoked before expiration.
Why This Is the Correct Answer
Delaware Code states that no abatement is made if the license is surrendered, suspended, canceled, or revoked before expiration.
Why the Other Options Are Wrong
Option A: The whole fee is returned automatically
The statute states no abatement, not automatic full refund.
Option B: Half the fee must be refunded
There is no half-refund rule in the cited provision.
Option D: The fee is credited against the applicant’s CE hours
A fee cannot be credited as CE hours under the cited rule.
Memory Technique
DE-C028 -> Delaware-application-fees-and-background
Exam Tip
Surrender or revocation does not create a fee abatement.
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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