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A licensing specialist is reviewing a Missouri file for records, reports, and required notices. Which conclusion is best supported?

Correct Answer

C) Missouri Division of Finance states the residential mortgage loan broker bond amount may range from no less than $50,000 to no more than $1,000,000 based on activity volume as determined by the director.

Missouri Division of Finance states the residential mortgage loan broker bond amount may range from no less than $50,000 to no more than $1,000,000 based on activity volume as determined by the director.

Answer Options
A
Treat the requirement as waived because the borrower or employer agrees.
B
Assume another state's approval automatically satisfies the Missouri requirement.
C
Missouri Division of Finance states the residential mortgage loan broker bond amount may range from no less than $50,000 to no more than $1,000,000 based on activity volume as determined by the director.
D
Apply the Missouri rule only to company licenses and never to individual MLO activity.

Why This Is the Correct Answer

Missouri Division of Finance states the residential mortgage loan broker bond amount may range from no less than $50,000 to no more than $1,000,000 based on activity volume as determined by the director.

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