EstatePass
USTeasy11% of exam

Before approving the state-law refresher, a New York compliance manager checks continuing education and renewal. Which conclusion is best supported?

Correct Answer

A) Article 12-E defines mortgage loan originator activity around taking a residential mortgage loan application or offering or negotiating terms of a residential mortgage loan.

Article 12-E defines mortgage loan originator activity around taking a residential mortgage loan application or offering or negotiating terms of a residential mortgage loan.

Answer Options
A
Article 12-E defines mortgage loan originator activity around taking a residential mortgage loan application or offering or negotiating terms of a residential mortgage loan.
B
Close or renew first, then decide whether the record-retention audit needs a compliance correction.
C
Proceed before the required New York license, sponsorship, disclosure, record, or approval is in place.
D
Use an informal manager exception without updating the license, file, or required record.

Why This Is the Correct Answer

Article 12-E defines mortgage loan originator activity around taking a residential mortgage loan application or offering or negotiating terms of a residential mortgage loan.

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