최신 MLO 무료덤프 - NMLS Mortgage Loan Origination (SAFE MLO)

문제1

A mortgage loan originator (MLO) originates a 5/1 ARM where the indexed rate is likely to be higher than the introductory rate. The Truth in Lending Act (TILA) states that an MLO must calculate a borrower's monthly Payment amount based on which of the following?

A. Fully indexed rate of the loan

B. An average of the varying payment amounts over the life of the loan

C. Payment amount during the fixed introductory period

D. The total amount of the payments

정답: A

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문제2

Which of the following statements is permissible in an advertisement?

A. "Take out a reverse mortgage loan with us, and you can stay in your home as long as you want and never make a payment."

B. "Looking for a VA loan? We are endorsed by and affiliated with the VA administration."

C. "Current interest rates as low as 3.50% with an APR of 3.99%. Contact us today!"

D. "Close a mortgage loan with us within the next 60 days and when interest rates drop, we will refinance your loan at a lower rate guaranteed."

정답: C

설명: (DumpTOP 회원만 볼 수 있음)

문제3

When a mortgage loan originator notices multiple Social Security number discrepancies within the same loan file, it is considered a red flag of:

A. pricing discrepancies.

B. mortgage fraud.

C. fair lending.

D. a forgetful borrower.

정답: B

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문제4

A borrower who knowingly makes false statements on a federally related mortgage loan to obtain property may be:

A. fined up to the total purchase price of their home.

B. fined up to JB10,000 or imprisoned for 6 months.

C. imprisoned for 10 to 16 months

D. fined up to $1 million and imprisoned for 30 years.

정답: D

설명: (DumpTOP 회원만 볼 수 있음)

문제5

In the loan application process, when must specific disclosures be provided to a borrower for an ARM?

A. Within three days of a complete application

B. At first mention of an ARM loan

C. When a loan is locked in

D. At closing

정답: A

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문제6

The upfront premium charged on an FHA mortgage transaction to protect a creditor in the event of borrower default is an example of:

A. force-placed hazard insurance.

B. government mortgage insurance.

C. private mortgage insurance

D. optional credit life insurance.

정답: B

설명: (DumpTOP 회원만 볼 수 있음)

문제7

Which of the following is a requirement for a mortgage loan originator (MLO) license?

A. Have never been convicted of a felony in a domestic, foreign or military court

B. Are covered by either a net worth or surety bond or pay into a state fund as required by the state loan originator's supervisory authority

C. Completed at least 10 hours of pre-licensing education

D. Have not had an MLO license revoked in the last five years

정답: B

설명: (DumpTOP 회원만 볼 수 있음)

문제8

A mortgage loan originator (MLO) cannot be approved for licensure if the applicant has:

A. had an MLO license suspended in any governmental jurisdiction.

B. never been licensed or registered as an MLO in any governmental jurisdiction.

C. taken and failed the SAFE MLO National Test three times within the last year.

D. been convicted of a felony within the past seven years.

정답: D

설명: (DumpTOP 회원만 볼 수 있음)

문제9

The TILA-RESPA Integrated Disclosure rule (TRID) applies to most closed-end consumer credit transactions secured by real property, which includes:

A. refinance of a condominium property.

B. reverse mortgages.
B home equity lines of credit (HELOCs;

C. loans secured by a mobile home on a leased lot.

정답: C

설명: (DumpTOP 회원만 볼 수 있음)

문제10

Which of the following property value approaches does an appraiser use on a rental property?

A. Cost approach
B Income approach

B. Annual approach

C. Sales comparison approach

정답: B

설명: (DumpTOP 회원만 볼 수 있음)

최신 MLO 무료덤프 - NMLS Mortgage Loan Origination (SAFE MLO)

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