Uniform State Test (UST) · 11% of the SAFE exammedium
Correct answer: Is exempt from MLO licensing requirements because her role is clerical and does not involve taking applications or negotiating terms
The SAFE Act exempts individuals in clerical and support roles from MLO licensing requirements. Sandra's activities — collecting documents, verifying income, and organizing files — are administrative in nature. She does not take applications, negotiate terms, or exercise independent credit judgment. Therefore, she does not meet the definition of an MLO. Handling financial information alone (A) does not trigger licensing; registration without negotiation (B) is not required for non-MLO support staff; and employment at a non-depository firm (D) does not override the clerical exemption.
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