Uniform State Test (UST) · 11% of the SAFE exammedium
Correct answer: The MLO must update their NMLS profile to reflect the new employer before acting as an MLO
Under NMLS rules, an MLO's profile must be updated to reflect a change of employer BEFORE the MLO may begin acting as a loan officer for the new employer. All relevant employer information — name, address, phone number — must be updated in the NMLS Registry. "The new employer must notify the NMLS within 60 days..." is incorrect — a new exam is not required simply because of a job change. "The MLO must retake and pass the NMLS exam with a sc..." is incorrect — when an MLO leaves a company, the former company must notify the NMLS within 10 calendar days under NMLS Rule 2.2, but the key restriction here is that the MLO cannot originate until the profile is updated. "The MLO must update their NMLS profile to reflect th..." is incorrect — eight hours of CE is an annual renewal requirement, not a job-change requirement.
CRAM ARCADE has the full NMLS question bank, timed practice exams, focus drills on your weakest category, flashcards and spaced repetition. No credit card.
Start studying free