EstatePass
USThard11% of exam

A staff member asks whether a New Jersey procedure for SAFE testing is compliant. Which answer is correct?

Correct Answer

A) New Jersey MLO applicants must obtain sponsorship of the requested MLO license by a business entity properly licensed in New Jersey through NMLS.

New Jersey MLO applicants must obtain sponsorship of the requested MLO license by a business entity properly licensed in New Jersey through NMLS.

Answer Options
A
New Jersey MLO applicants must obtain sponsorship of the requested MLO license by a business entity properly licensed in New Jersey through NMLS.
B
Treat continuing education and renewal as satisfied by borrower consent alone.
C
Delay the New Jersey requirement until after the loan closes or the renewal period ends.
D
Treat consumer consent as a cure for a prohibited or missing compliance step.

Why This Is the Correct Answer

New Jersey MLO applicants must obtain sponsorship of the requested MLO license by a business entity properly licensed in New Jersey through NMLS.

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