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Under Delaware law, when must a previously licensed MLO retake the test because of a license lapse?

Correct Answer

A) When the MLO fails to maintain a valid license for 5 years or longer, excluding time as a registered MLO

Delaware law requires retesting when a licensed MLO fails to maintain a valid license for 5 years or longer, not counting time during which the individual was a registered MLO.

Answer Options
A
When the MLO fails to maintain a valid license for 5 years or longer, excluding time as a registered MLO
B
Whenever the MLO changes employers
C
Any time a renewal is submitted after November 1
D
After 1 year of inactivity, even if registered as an MLO the whole time

Why This Is the Correct Answer

Delaware law requires retesting when a licensed MLO fails to maintain a valid license for 5 years or longer, not counting time during which the individual was a registered MLO.

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