During a Maryland consumer complaint response, a branch supervisor must resolve a question about continuing education and renewal. Which statement should control?
Correct Answer
B) Maryland PE totals 20 hours: 3 federal law, 3 ethics, 2 nontraditional mortgage lending, 3 Maryland mortgage-related law, 2 Maryland finder's fee law, and 7 elective hours.
Maryland PE totals 20 hours: 3 federal law, 3 ethics, 2 nontraditional mortgage lending, 3 Maryland mortgage-related law, 2 Maryland finder's fee law, and 7 elective hours.
Why This Is the Correct Answer
Maryland PE totals 20 hours: 3 federal law, 3 ethics, 2 nontraditional mortgage lending, 3 Maryland mortgage-related law, 2 Maryland finder's fee law, and 7 elective hours.
Why the Other Options Are Wrong
Option A: Treat the timing or filing requirement as optional if the transaction appears low risk.
Treat the timing or filing requirement as optional if the transaction appears low risk. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Assume the Maryland requirement does not apply to this NMLS filing review.
Assume the Maryland requirement does not apply to this NMLS filing review. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option D: Treat continuing education and renewal as satisfied by borrower consent alone.
Treat continuing education and renewal as satisfied by borrower consent alone. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
MD -> md-application-education-testing-and-renewal
Exam Tip
For Maryland education questions, remember 20 PE hours with 5 Maryland-specific hours and 8 CE hours with 1 Maryland law hour.
Common Mistakes to Avoid
- -Using a national baseline answer when Maryland has a state-specific rule
- -Confusing NMLS workflow, Maryland Office of Financial Regulation requirements, COMAR rules, and statutory requirements
- -Treating temporary authority, inactive status, or exemptions as blanket permission
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