Free NMLS MLO Exam Questions

Become NMLS Certified with updated MLO exam questions and correct answers

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Total 122 Questions | Updated On: Jun 04, 2025

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Question 1

Under the TILA-RESPA Integrated Disclosure rule (TRID), what is the minimum time period that must pass between a borrower's receipt of a Loan Estimate and the closing of a mortgage loan?

A : 7 business days

B : 15 business days

C : 30 business days

D : 45 calendar days

Answer: A

Question 2

Which of the following federal laws requires mortgage lenders to adopt and follow anti-money laundering (AML) rules and regulations?

A : The National Bank Act

B : The National Currency Act

C : The Bank Secrecy Act

D : The Real Estate Settlement Procedures Act

Answer: C

Question 3

Which of the following factors is considered when determining the interest rate for a subprime mortgage?

A : The term of the loan

B : The property location

C : The sales price of the property

D : The credit score of the applicants]

Answer: D

Question 4

Which of the following acts requires mortgage loan originators to complete annual continuing education to satisfy the requirement for licensure?

A : The SAFE Act

B : The Dodd-Frank Act

C : The Truth in Lending Act (TILA)

D : The Equal Credit Opportunity Act

Answer: A

Question 5

A licensed mortgage loan originator (MLO) sharing his commission with another licensed MLO at his company for actual services performed on a loan is considered which of the following terms?

A : Tip sharing

B : Fee splitting

C : Single fee method

D : Double fee method

Answer: B

Page: 1 / 25

Total 122 Questions | Updated On: Jun 04, 2025

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