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A practice question asks about license or registration before activity. Which answer best matches the official North Carolina rule?

Correct Answer

C) 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
Let production staff decide whether sponsorship and employment status matters for the file.
B
Skip documentation because the mortgage operations checklist appears routine.
C
A nonexempt person must be licensed or registered before acting as an MLO in North Carolina.
D
Rely on prior mortgage experience instead of the stated licensing or compliance requirement.

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.

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