A file reviewer is checking whether a Texas process satisfies requirements for continuing education and renewal. Which statement is accurate?
Correct Answer
D) NMLS lists Texas-OCCC annual continuing education as 8 hours with a December 31 deadline and no separate Texas-OCCC CE hour.
NMLS lists Texas-OCCC annual continuing education as 8 hours with a December 31 deadline and no separate Texas-OCCC CE hour.
Why This Is the Correct Answer
NMLS lists Texas-OCCC annual continuing education as 8 hours with a December 31 deadline and no separate Texas-OCCC CE hour.
Why the Other Options Are Wrong
Option A: Treat continuing education and renewal as optional because the company has a general Texas compliance policy.
Treat continuing education and renewal as optional because the company has a general Texas compliance policy. is not correct because the governing rule requires the compliant answer shown in the explanation.
Option B: Postpone the Texas continuing education and renewal issue until the next annual review.
Postpone the Texas 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.
Option C: Use only the federal baseline and ignore the separate Texas state requirement.
Use only the federal baseline and ignore the separate Texas state requirement. is not correct because the governing rule requires the compliant answer shown in the explanation.
Memory Technique
TX -> tx-agency-scope-nmls-education-renewal
Exam Tip
Texas often tests the split between SML and OCCC, current NMLS TX-SML 23-hour PE, TX-OCCC 20-hour PE baseline, 8-hour CE, December 31 renewal timing, and the SAFE National Test with UST.
Common Mistakes to Avoid
- -Using a generic national answer when Texas has SML, OCCC, home-equity, or Finance Code rules
- -Confusing Texas-SML and Texas-OCCC education, licensing, renewal, and product-scope requirements
- -Treating Texas 50(a)(6), temporary authority, exemptions, records, advertisements, or enforcement rules as optional
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