EstatePass
USTeasy11% of exam

Which statement is most accurate about license or registration before activity under North Carolina MLO law or NCCOB guidance?

Correct Answer

B) A nonexempt person must be licensed or registered before acting as an MLO in North Carolina.

A nonexempt person must be licensed or registered before acting as an MLO in North Carolina. North Carolina requires a person to be licensed or registered before acting as an MLO in the state, unless exempt.

Answer Options
A
Use an informal manager exception without updating the license, file, or required record.
B
A nonexempt person must be licensed or registered before acting as an MLO in North Carolina.
C
Use a verbal explanation instead of the required license status, disclosure, record, or filing.
D
Use a disciplinary-risk review exception instead of satisfying the rule before activity continues.

Why This Is the Correct Answer

A nonexempt person must be licensed or registered before acting as an MLO in North Carolina. North Carolina requires a person to be licensed or registered before acting as an MLO in the state, unless exempt.

Was this explanation helpful?

More UST Questions

People Also Study

Related Study Resources

Practice More MLO Questions

Access all practice questions with progress tracking and adaptive difficulty to pass your SAFE MLO exam.

Start Practicing