A company policy memo needs a Georgia rule for pre-licensure education. Which statement should be included?
Correct Answer
B) Georgia MLO pre-licensure education is 20 hours of NMLS-approved PE, and Georgia has 0 state-specific PE hours; Georgia PE expires after 3 consecutive years without a valid MLO license or federal registration.
Georgia MLO pre-licensure education is 20 hours of NMLS-approved PE, and Georgia has 0 state-specific PE hours; Georgia PE expires after 3 consecutive years without a valid MLO license or federal registration.
Why This Is the Correct Answer
Georgia MLO pre-licensure education is 20 hours of NMLS-approved PE, and Georgia has 0 state-specific PE hours; Georgia PE expires after 3 consecutive years without a valid MLO license or federal registration.
Why the Other Options Are Wrong
Option A: Skip the Georgia requirement because the company already follows general SAFE Act procedures.
Skip the Georgia requirement because the company already follows general SAFE Act procedures. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Treat continuing education and renewal as optional because the company has a general Georgia compliance policy.
Treat continuing education and renewal as optional because the company has a general Georgia compliance policy. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option D: Postpone the Georgia continuing education and renewal issue until the next annual review.
Postpone the Georgia continuing education and renewal issue until the next annual review. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
GA -> ga-dbf-nmls-MLO-licensing-education-testing-renewal
Exam Tip
Georgia licensing questions often test no state-specific PE, 8-hour CE with 1 GA hour by October 31, SAFE test score and expiration, sponsorship, incomplete applications, renewal timing, and late renewal fees.
Common Mistakes to Avoid
- -Using generic federal mortgage facts when Georgia DBF, GRMA, Georgia Fair Lending Act, or Rule 80-11 rules are being tested
- -Confusing company broker/lender licensing with individual MLO sponsorship and employment limits
- -Treating Georgia CE, temporary authority disclosure, books and records, branch approval, or high-cost protections as optional
More UST Questions
In a pricing desk question, an audit analyst sees facts tied to Prohibited Misrepresentation. What should the file reflect?
An applicant previously had an MLO license revoked by a state regulator. Under the SAFE Act minimum standards for a new state-licensed MLO license, which statement is correct?
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?
Why does NMLS maintain licensing and enforcement information that participating regulators can access?
A regulator issues a final license suspension without giving the MLO notice of the alleged violation or any opportunity to respond, even though applicable law requires both. What issue is presented?
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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