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A company entering the Pennsylvania market is documenting rules for pre-licensure education. Which statement is accurate?

Correct Answer

A) NMLS lists Pennsylvania state-licensed MLO pre-licensure education as 20 hours: 3 hours federal law, 3 hours ethics, 2 hours nontraditional mortgage lending, 9 elective hours, and 3 hours of Pennsylvania law.

NMLS lists Pennsylvania state-licensed MLO pre-licensure education as 20 hours: 3 hours federal law, 3 hours ethics, 2 hours nontraditional mortgage lending, 9 elective hours, and 3 hours of Pennsylvania law.

Answer Options
A
NMLS lists Pennsylvania state-licensed MLO pre-licensure education as 20 hours: 3 hours federal law, 3 hours ethics, 2 hours nontraditional mortgage lending, 9 elective hours, and 3 hours of Pennsylvania law.
B
Apply the Pennsylvania rule only to company licenses and never to individual MLO activity.
C
Handle continuing education and renewal with an informal note rather than the required license, disclosure, filing, or record.
D
Use another jurisdiction's approval as a substitute for the Pennsylvania requirement.

Why This Is the Correct Answer

NMLS lists Pennsylvania state-licensed MLO pre-licensure education as 20 hours: 3 hours federal law, 3 hours ethics, 2 hours nontraditional mortgage lending, 9 elective hours, and 3 hours of Pennsylvania law.

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