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An MLO asks how Missouri handles records, reports, and required notices. Which answer should compliance give?

Correct Answer

B) Missouri bond increases must be posted with the Division of Finance by May 1 each year.

Missouri bond increases must be posted with the Division of Finance by May 1 each year.

Answer Options
A
Rely on prior mortgage experience instead of the stated licensing or compliance requirement.
B
Missouri bond increases must be posted with the Division of Finance by May 1 each year.
C
Continue the activity and document the issue only if a complaint is later filed.
D
Let the MLO originate while waiting for the Missouri status, sponsorship, or renewal issue to be corrected.

Why This Is the Correct Answer

Missouri bond increases must be posted with the Division of Finance by May 1 each year.

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