In an Oregon disciplinary-risk review, a state compliance officer sees a compliance issue involving continuing education and renewal. What should the file reflect?
Correct Answer
D) Oregon MLO pre-licensure education is 20 NMLS-approved hours, including 3 hours federal law, 3 hours ethics, 2 hours nontraditional lending standards, and 4 hours Oregon laws and rules.
Oregon MLO pre-licensure education is 20 NMLS-approved hours, including 3 hours federal law, 3 hours ethics, 2 hours nontraditional lending standards, and 4 hours Oregon laws and rules.
Why This Is the Correct Answer
Oregon MLO pre-licensure education is 20 NMLS-approved hours, including 3 hours federal law, 3 hours ethics, 2 hours nontraditional lending standards, and 4 hours Oregon laws and rules.
Why the Other Options Are Wrong
Option A: Skip the Oregon requirement because the company already follows general SAFE Act procedures.
Skip the Oregon requirement because the company already follows general SAFE Act procedures. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option B: Treat continuing education and renewal as optional because the company has a general Oregon compliance policy.
Treat continuing education and renewal as optional because the company has a general Oregon compliance policy. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option C: Postpone the Oregon continuing education and renewal issue until the next annual review.
Postpone the Oregon continuing education and renewal issue until the next annual review. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
OR -> or-application-education-testing-and-renewal
Exam Tip
For Oregon education questions, remember 20 PE hours with 4 Oregon law hours, 10 CE hours with 2 Oregon law hours, 75 percent testing, 2-year score validity, 30-day retakes, and CE restrictions before renewal.
Common Mistakes to Avoid
- -Using a national baseline answer when Oregon has a state-specific rule
- -Confusing NMLS workflow, Oregon Division of Financial Regulation requirements, ORS 86A, OAR 441-880, and state regulator guidance
- -Treating exemptions, processor or underwriter status, or license renewal timing as blanket permission
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