A compliance officer is coaching an MLO on Maryland pre-licensure education. Which answer should the MLO follow?
Correct Answer
A) 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 B: Use only the federal baseline and ignore the separate Maryland state requirement.
Use only the federal baseline and ignore the separate Maryland state requirement. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Apply the rule only after the Maryland regulator has already opened an examination.
Apply the rule only after the Maryland regulator has already opened an examination. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option D: Skip the Maryland requirement because the company already follows general SAFE Act procedures.
Skip the Maryland 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.
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
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?
People Also Study
Federal Mortgage-Related Laws
24% of exam
General Mortgage Knowledge
20% of exam
Mortgage Loan Origination Activities
27% of exam
Ethics, Fraud & Consumer Protection
18% of exam