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A mortgage company asks a compliance manager to validate an Oregon NMLS filing review involving continuing education and renewal. Which statement is reliable?

Correct Answer

A) Oregon permits an applicant to retake the qualified test after 30 days between administrations, but after 4 consecutive failures the applicant must wait at least 6 months before retesting.

Oregon permits an applicant to retake the qualified test after 30 days between administrations, but after 4 consecutive failures the applicant must wait at least 6 months before retesting.

Answer Options
A
Oregon permits an applicant to retake the qualified test after 30 days between administrations, but after 4 consecutive failures the applicant must wait at least 6 months before retesting.
B
Proceed before the required Oregon license, sponsorship, disclosure, record, or approval is in place.
C
Use an informal manager exception without updating the license, file, or required record.
D
Use a verbal explanation instead of the required license status, disclosure, record, or filing.

Why This Is the Correct Answer

Oregon permits an applicant to retake the qualified test after 30 days between administrations, but after 4 consecutive failures the applicant must wait at least 6 months before retesting.

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