A mortgage company is training staff on Georgia requirements for records, reports, and required notices. Which statement should the trainer use?
Correct Answer
D) Georgia DBF examination fees are $65 per examiner hour with a $500 minimum, and fines related to examination findings are due within 30 days of the invoice date.
Georgia DBF examination fees are $65 per examiner hour with a $500 minimum, and fines related to examination findings are due within 30 days of the invoice date.
Why This Is the Correct Answer
Georgia DBF examination fees are $65 per examiner hour with a $500 minimum, and fines related to examination findings are due within 30 days of the invoice date.
Why the Other Options Are Wrong
Option A: Use a verbal explanation instead of the required license status, disclosure, record, or filing.
Use a verbal explanation instead of the required license status, disclosure, record, or filing. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option B: Use a advertising approval exception instead of satisfying the rule before activity continues.
Use a advertising approval exception instead of satisfying the rule before activity continues. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Close or renew first, then decide whether the advertising approval needs a compliance correction.
Close or renew first, then decide whether the advertising approval needs a compliance correction. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
GA -> ga-dbf-exams-enforcement-fines-reporting-remedies
Exam Tip
Georgia enforcement questions test DBF exam authority, no advance notice, 60-month minimum exam cycle, risk-based lookbacks, exam fees, fines for unlicensed activity, records, CE, advertising, branches, ownership changes, call reports, GAFLA, and NMLS updates.
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
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