EstatePass
USTmedium11% of exam

A state compliance officer documents a Virginia state-law refresher and needs one rule for continuing education and renewal. Which statement belongs in the file?

Correct Answer

A) Virginia requires a 75 percent SAFE test score and required retake waiting periods.

Virginia SAFE testing requires a qualified Registry-developed test, at least 75 percent correct to pass, 30 days between three consecutive retakes, a 6-month wait after three failures, and retesting after 5 years without a valid MLO license excluding time as a registered MLO.

Answer Options
A
Virginia requires a 75 percent SAFE test score and required retake waiting periods.
B
Apply the Virginia 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 Virginia requirement.

Why This Is the Correct Answer

Virginia SAFE testing requires a qualified Registry-developed test, at least 75 percent correct to pass, 30 days between three consecutive retakes, a 6-month wait after three failures, and retesting after 5 years without a valid MLO license excluding time as a registered MLO.

Was this explanation helpful?

More UST Questions

People Also Study

Related Study Resources

Practice More MLO Questions

Access all practice questions with progress tracking and adaptive difficulty to pass your SAFE MLO exam.

Start Practicing