NMLS Education and Testing

Question 1

What is the minimum pre-licensing education (PE) requirement for an MLO?

Accepted Answer

20 hours

Answer

10 hours

Answer

30 hours

Answer

40 hours

Question 2

Which of the following is a required component of the SAFE MLO test?

Accepted Answer

A state-specific section

Answer

A mathematics section

Answer

A customer relations section

Answer

A general business management section

Question 3

How often must an MLO complete continuing education (CE) to maintain their license?

Accepted Answer

Annually

Answer

Every two years

Answer

Every three years

Answer

Only upon license renewal

Question 4

What happens if an MLO does not complete their annual continuing education on time?

Accepted Answer

Their license becomes inactive.

Answer

They are automatically fined.

Answer

They must retake the SAFE MLO test.

Answer

Their license is automatically renewed with conditions.

Question 5

What system tracks an MLO’s education and testing records?

Accepted Answer

NMLS Testing and Education System

Answer

NMLS Education Tracker

Answer

SAFE Act Compliance System

Answer

Education Verification Hub