Uniform State Test (UST) · 11% of the SAFE exammedium
Correct answer: The MLO's NMLS unique identifier, since virtually any communication advertising mortgage services is considered an advertisement
Under the SAFE Act, MLOs must include their NMLS unique identifier in any written communication, and the CFPB's advertising rules are broad — virtually any communication, including social media posts, emails, and text messages, can be considered an advertisement. Therefore, the MLO's NMLS number must appear in the text message. "," is incorrect — text messages advertising mortgage services are not exempt as 'personal communications.' "A full disclosure statement including APR, loan term..." is incorrect — the NMLS unique identifier is what is required, not merely a state license number. "Only the MLO's phone number and state license number..." is incorrect — while certain disclosures may be required in formal advertisements under Regulation Z, the question asks what the SAFE Act requires, which is the NMLS identifier.
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