In a Pennsylvania new-license application, a branch supervisor sees a compliance issue involving continuing education and renewal. What should the file reflect?
Correct Answer
C) Pennsylvania allows three consecutive test attempts at least 30 days apart, but after three failures the applicant must wait at least 6 months before testing again.
Pennsylvania allows three consecutive test attempts at least 30 days apart, but after three failures the applicant must wait at least 6 months before testing again.
Why This Is the Correct Answer
Pennsylvania allows three consecutive test attempts at least 30 days apart, but after three failures the applicant must wait at least 6 months before testing again.
Why the Other Options Are Wrong
Option A: Assume the Pennsylvania requirement does not apply to this renewal checklist.
Assume the Pennsylvania requirement does not apply to this renewal checklist. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option B: Treat continuing education and renewal as satisfied by borrower consent alone.
Treat continuing education and renewal as satisfied by borrower consent alone. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option D: Delay the Pennsylvania requirement until after the loan closes or the renewal period ends.
Delay the Pennsylvania 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.
Memory Technique
PA -> pa-dobs-nmls-licensing-education-testing-renewal
Exam Tip
Pennsylvania licensing questions test NMLS application routing, 20-hour PE with 3 Pennsylvania-law hours, 75 percent passing score, retest waits, 8-hour CE with 1 Pennsylvania-law hour, annual renewal, and MLO fees.
Common Mistakes to Avoid
- -Using generic federal mortgage facts when Pennsylvania MLA, Pennsylvania Code, DoBS, or NMLS state-specific rules are being tested
- -Confusing Pennsylvania individual MLO licensing or sponsorship with mortgage broker, lender, servicer, branch, or qualifying-individual requirements
- -Treating Pennsylvania bond, record, advertising, disclosure, ability-to-repay, servicing, loss mitigation, or enforcement requirements as optional
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