Uniform State Test (UST) · 11% of the SAFE examhard
Correct answer: Jordan must complete the full 20 hours of NMLS-approved pre-licensure education regardless of her legal background, as the SAFE Act does not grant PE waivers based on professional experience
The SAFE Act does not provide exemptions or waivers from the 20-hour pre-licensure education requirement based on professional background, prior experience, or credentials such as a law degree. Every new MLO applicant must complete the full 20 hours of NMLS-approved PE regardless of prior professional experience. "Jordan is exempt from all pre-licensure education be..." is incorrect — attorneys are not categorically exempt from SAFE Act PE requirements (note: certain employees of federally chartered depository institutions have different rules, but that does not apply to attorneys generally). "Jordan may substitute her 8 years of compliance expe..." is incorrect — experience cannot be substituted for PE hours under the SAFE Act. "Jordan only needs to complete the 3 hours of ethics..." is incorrect — the SAFE Act does not allow partial PE waivers based on professional credentials.
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