Before approving the regulator exam preparation, an Ohio audit analyst checks continuing education and renewal. Which conclusion is best supported?
Correct Answer
A) Ohio requires a mortgage loan originator license application through NMLS, a $200 nonrefundable application fee, and any additional NMLS-required fee.
Ohio requires a mortgage loan originator license application through NMLS, a $200 nonrefundable application fee, and any additional NMLS-required fee.
Why This Is the Correct Answer
Ohio requires a mortgage loan originator license application through NMLS, a $200 nonrefundable application fee, and any additional NMLS-required fee.
Why the Other Options Are Wrong
Option B: Delay the Ohio requirement until after the loan closes or the renewal period ends.
Delay the Ohio requirement until after the loan closes or the renewal period ends. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Treat consumer consent as a cure for a prohibited or missing compliance step.
Treat consumer consent as a cure for a prohibited or missing compliance step. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option D: Treat the timing or filing requirement as optional if the transaction appears low risk.
Treat the timing or filing requirement as optional if the transaction appears low risk. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
OH -> oh-rmla-MLO-licensing-education-testing-renewal
Exam Tip
Ohio licensing questions test NMLS application routing, 24-hour PE with 4 Ohio-law hours, 75 percent test passing score, retest waits, 8-hour annual CE, December 31 renewal, and Ohio issuance standards.
Common Mistakes to Avoid
- -Using generic federal mortgage facts when Ohio RMLA, Ohio Administrative Code, DFI, or NMLS state-specific rules are being tested
- -Confusing Ohio individual MLO licensing or escrow status with company registration and operations-manager requirements
- -Treating Ohio bond, record, advertising, referral, remote-work, servicing, or enforcement requirements as optional
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