What is the minimum passing score required for the Uniform State Test component of the SAFE MLO licensing exam?
Correct Answer
B) 75%
The SAFE Act requires a minimum passing score of 75% on both the National and Uniform State Test components. This standard is established under 12 CFR 1008.107(e).
Why This Is the Correct Answer
The SAFE Act requires a minimum passing score of 75% on both the National and Uniform State Test components. This standard is established under 12 CFR 1008.107(e).
More UST Questions
If a state regulatory authority finds violations during an examination, what factors typically influence the severity of enforcement action?
Under the SAFE Act, an individual who works for a federally chartered bank and takes mortgage applications must:
An MLO under investigation claims that certain requested documents are protected by attorney-client privilege because they were prepared in consultation with legal counsel. How should the state regulator respond?
Which scenario represents the MOST serious violation of appraisal independence requirements?
An MLO's license is suspended for 6 months, but after 3 months, the MLO demonstrates completion of remedial actions. Can the regulator lift the suspension early?
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A mortgage company operates as a sole proprietorship. The owner's personal residence is valued at $400,000 with a $250,000 mortgage. Can this equity be counted toward the company's net worth requirement?
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