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Uniform State Test (UST) Question Bank

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• After failing the MLO national test 3 consecutive times, how long must the applicant wait?
• Which agency is the primary regulator of mortgage lending in Alabama?
• A borrower in Alabama defaults on their mortgage. The lender's attorney advises that foreclosure can proceed without filing a court action,...
• What is Alabama's statutory right of redemption period after foreclosure?
• Alabama MLOs must complete how many hours of continuing education annually?
• Maria recently passed her NMLS exam and wants to begin originating mortgage loans in Alabama. She plans to work independently without any...
• A person fails the SAFE MLO national exam twice in a row. What is the waiting period before the third attempt?
• A licensed MLO wants to let their license lapse and return to the industry later. If the MLO has been inactive for more than 5 years, what...
• How many hours of continuing education does the SAFE Act require annually for licensed MLOs?
• A person with a felony conviction involving fraud applies for an MLO license. Under SAFE Act requirements, what is the outcome?
• Under NMLS requirements, an MLO must maintain certain records. What is the general record retention requirement?
• What is the correct escalation sequence for state enforcement actions against a licensed MLO?
• A state regulator issues a cease and desist order requiring an MLO to stop a specific marketing practice. Does this automatically suspend...
• An MLO is charged with a felony. Under NMLS requirements, within what timeframe must this be reported on their MU4 filing?
• Before a state regulatory agency can revoke an MLO's license, what process must typically be provided?
• An MLO is convicted of a DUI and reports it to NMLS within 30 days as required. What is the most likely next step?
• An Alabama mortgage broker originated $60 million in loans last year. What is the minimum surety bond required for license renewal?
• What is the minimum tangible net worth requirement for a mortgage broker license in Alabama?
• Alabama requires how many hours of pre-licensing education for MLO candidates?
• A mortgage company wants to open a second office location in Birmingham, Alabama. What is required?
• Alabama mortgage licensing is governed by two primary state statutes. Which pair is correct?
• The Alabama State Banking Department conducts examinations of licensed mortgage brokers. What is the examination fee?
• Under Alabama law, how long must a mortgage broker retain records related to loan transactions?
• Alabama law requires the NMLS unique identifier to be displayed on which of the following?
• Under the Alabama Mortgage Brokers Licensing Act, a mortgage broker fails to disburse loan funds according to the written commitment after...
• A borrower in Alabama wants to file a complaint against a mortgage loan officer. Where should the complaint be directed?
• What is the Alabama homestead exemption amount that protects home equity in bankruptcy?
• Alabama requires how many hours of annual continuing education for licensed MLOs?
• An Alabama MLO's license lapsed on January 15 because they failed to renew by December 31. What is the reinstatement fee?
• An Alabama mortgage broker originated $120 million in loans this year. Their current surety bond is $50,000. What must happen at renewal?
• Which of the following is NOT a standard basis for a state regulator to deny an MLO license application?
• An MLO must notify the state regulator of a material change. Which of the following is NOT typically considered material?
• A state-licensed MLO wants to renew her license for the upcoming year. Under the SAFE Act, what is the minimum number of continuing...
• Which of the following employees at a mortgage company would most likely NOT be required to obtain an MLO license?
• Under the SAFE Act, which requirement applies to BOTH depository institution employees (registered MLOs) AND non-depository institution...
• A state regulator issues a consent order against an MLO requiring payment of a $15,000 fine and completion of 20 hours of remedial...
• Sandra is a loan processor at a mortgage company. She collects financial documents from borrowers, verifies income figures, and organizes...
• An MLO changes jobs from one mortgage company to another. Under the SAFE Act and NMLS rules, what must happen BEFORE the MLO may begin...
• An MLO applicant was convicted of a felony involving fraud 12 years ago. Under the SAFE Act, which statement best describes the impact on...
• After a state agency revokes an MLO's license, the MLO believes the decision was made in error. What is the appropriate next step for the...
• A national nonprofit housing counseling organization trains its counselors to help low-income borrowers understand mortgage products,...
• A state licensing agency reviewing an MLO renewal application discovers that since the last renewal, the MLO has accumulated significant...
• An MLO realizes at closing that a loan's Annual Percentage Rate (APR) has increased by 0.25% above what was disclosed, triggering a...
• Under the SAFE Act's Temporary Authority to Originate (TAO) provision, which scenario would allow an MLO to originate loans in a new state...
• Under the SAFE Act, how many years of employment history must an MLO provide when obtaining an NMLS number?
• Under the SAFE Act, how many hours of pre-licensure education must a state-licensed MLO candidate complete before taking the NMLS exam?
• Under temporary authority to originate (TAO) provisions of the SAFE Act, an MLO applying for a new state license is exercising TAO. If the...
• As part of the NMLS state MLO licensing process, which of the following is used to conduct the required criminal history background check...
• A state-licensed MLO in Ohio wants to move to Texas and work for a Texas mortgage company. Under the SAFE Act's temporary authority to...
• Which of the following topics is a required component of the 20-hour pre-licensure education curriculum for MLO candidates under the SAFE...
• During a mortgage transaction, a borrower asks an MLO for proof that he is properly licensed. The MLO provides a business card. Which...
• An MLO holds an active license in State A and accepts a job offer with a lender in State B where they are not yet licensed. Under the SAFE...
• State mortgage laws modeled on the CSBS/AARMR framework generally prohibit MLOs from engaging in which of the following behaviors?
• State mortgage regulatory agencies are required to have examination authority over MLOs. Which of the following best describes the minimum...
• Under state mortgage licensing law, an MLO who makes a materially false statement on a license application is subject to which of the...
• A borrower calls a mortgage company and speaks with a customer service representative who answers questions about available loan programs...
• Under the SAFE Act framework, which entity holds the authority to suspend or revoke an MLO's state license?
• A licensed MLO leaves their employer and joins a new mortgage company in the same state. The MLO's individual state license is still...
• What was the primary purpose of the SAFE Act when it was enacted?
• An MLO who works for a federally insured credit union has been registered through NMLS for three years. She decides to leave the credit...
• A regional bank's compliance officer reviews the activities of four employees and must determine which, if any, require MLO licensure or...
• An individual originates mortgage loans while employed at a federally chartered bank. Under the SAFE Act, this person is required to:
• An MLO's license was revoked in State M five years ago for mortgage fraud. The MLO has since completed all required education, passed the...
• As part of the NMLS MLO licensing application, an applicant is required to authorize a credit report. What is the PRIMARY purpose of the...
• A state mortgage regulator discovers that an MLO licensed only in State A has been originating loans for borrowers in State B without...
• What is the minimum passing score required on the NMLS national mortgage licensing exam?
• A state mortgage regulatory agency requires all licensed mortgage companies to either maintain a surety bond or meet a minimum net worth...
• A state requires independent mortgage brokers to maintain a minimum net worth as an alternative to posting a surety bond. What regulatory...
• An MLO's license expired on December 31 because she failed to complete her continuing education before the deadline. She completes the CE...
• Under the SAFE Act, an MLO is required to include their NMLS unique identifier in which of the following situations?
• The NMLS was developed under a cooperative effort between which two organizations?
• Which of the following best describes the minimum supervisory power that most state mortgage regulatory agencies possess?
• Carlos completed his 8 hours of continuing education in October and plans to apply for license renewal by the December 31 deadline. He took...
• Jordan is a licensed attorney who has been advising mortgage companies on regulatory compliance for 8 years and now wants to become a...
• Kevin is a state-licensed MLO who allowed his license to lapse four years ago when he left the mortgage industry. He is now ready to...
• A state legislature is considering whether to require all MLOs operating in the state to either maintain a surety bond of at least $50,000...
• A state-licensed MLO sends a text message to a prospective borrower advertising a special mortgage rate. Under the SAFE Act and CFPB rules,...
• Marcus completed 20 hours of SAFE Act pre-licensure education in 2022 but never applied for his MLO license. He now wants to apply in 2025....
• What is the minimum passing score required on the SAFE MLO National Test Component to obtain a state mortgage loan originator license?
• An MLO who is licensed in three different states uses the NMLS to renew all three licenses. Which of the following best describes how the...
• The de minimis exception under the SAFE Act is designed to address which situation?
• How often must MLOs renew and attest to their NMLS registration information?
• After passing the NMLS licensing exam, how long does a new MLO have to obtain a valid license or active federal registration before being...
• Sandra has now failed the SAFE MLO National Test three consecutive times. Under NMLS rules, how long must she wait before she is eligible...
• A state mortgage regulatory agency discovers that an MLO has been charging borrowers undisclosed fees and misrepresenting loan terms. Which...
• Which of the following actions by an MLO would most clearly constitute prohibited conduct under state mortgage law?
• Under the SAFE Act, what type of background check is required as part of the MLO licensing process?
• Under the SAFE Act, an MLO's unique identifier must appear on which of the following documents?
• An MLO instructor teaches an NMLS-approved 4-hour continuing education course on ethics. How many hours of continuing education credit may...
• An MLO who is also a licensed real estate agent refers mortgage clients to a title company in which the MLO holds a 15% ownership interest...
• Which of the following accurately describes the relationship between the NMLS and state mortgage regulatory agencies?
• An MLO was licensed in State A and maintained her license in good standing for 3 years. She then let her license lapse for 6 years without...
• The SAFE Act's temporary licensing provisions were primarily designed to address which of the following situations?
• Under the SAFE Act's de minimis exception, which scenario would allow an individual to originate residential mortgage loans without...
• Which of the following scenarios best illustrates the consumer protection purpose of the NMLS Consumer Access database?
• A state mortgage regulatory agency examines two companies: Company X, a state-chartered bank, and Company Y, a non-bank mortgage company....
• A borrower is applying for a mortgage and notices that the loan application he received does not include any NMLS identifier. The MLO...
• Which of the following best describes the minimum supervisory authority that state mortgage regulatory agencies must possess under the SAFE...
• An MLO has been continuously licensed in State X for 7 years. She is moving to State Y and applies for an MLO license there. State Y has...
• A mortgage company employs two staff members in its loan operations department. Employee A organizes incoming loan documents into folders...