Before approving the record-retention audit, a Massachusetts policy analyst checks sponsorship and employment status. Which conclusion is best supported?
Correct Answer
B) Each Massachusetts MLO must be covered by a surety bond, and if the MLO is an employee or exclusive agent of an entity, that entity's surety bond may satisfy the MLO bond requirement.
Each Massachusetts MLO must be covered by a surety bond, and if the MLO is an employee or exclusive agent of an entity, that entity's surety bond may satisfy the MLO bond requirement.
Why This Is the Correct Answer
Each Massachusetts MLO must be covered by a surety bond, and if the MLO is an employee or exclusive agent of an entity, that entity's surety bond may satisfy the MLO bond requirement.
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