NMLS SAFE Mortgage Loan Originator Test

Question 1

A borrower is refinancing their primary residence. According to the Truth in Lending Act (TILA), how many copies of the Notice of Right to Rescind must each borrower with an ownership interest in the property receive?

One copy Two copies Three copies It depends on the loan amount

Correct Answer:

Two copies

Question 2

Under the Real Estate Settlement Procedures Act (RESPA), which of the following is NOT a required disclosure to the borrower?

Loan Estimate Closing Disclosure Annual Escrow Statement Annual Percentage Rate (APR) Disclosure

Correct Answer:

Annual Percentage Rate (APR) Disclosure

Question 3

A mortgage loan originator asks a loan applicant about her plans to have more children in the future. This question is a violation of which federal law?

Real Estate Settlement Procedures Act (RESPA) Truth in Lending Act (TILA) Equal Credit Opportunity Act (ECOA) Home Mortgage Disclosure Act (HMDA)

Correct Answer:

Equal Credit Opportunity Act (ECOA)

Question 4

A borrower applies for a loan on Monday, June 1st. According to the TILA-RESPA Integrated Disclosure (TRID) rule, what is the latest day the lender can provide the Loan Estimate to the borrower?

Tuesday, June 2nd Wednesday, June 3rd Thursday, June 4th Friday, June 5th

Correct Answer:

Thursday, June 4th

Question 5

Which of the following is the primary purpose of the Home Mortgage Disclosure Act (HMDA)?

To ensure consumers receive disclosures about settlement service costs. To protect consumers from identity theft and ensure credit report accuracy. To require lenders to report data to help identify potential discriminatory lending patterns. To provide borrowers with a three-day right to rescind certain loan transactions.

Correct Answer:

To require lenders to report data to help identify potential discriminatory lending patterns.

Question 1

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About this Exam

Prepare with the NMLS SAFE Mortgage Loan Originator Test practice quiz. This question bank includes 125 questions covering loan, mortgage, borrower, originator, and state. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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NMLS SAFE Mortgage Loan Originator Test

This practice set contains 125 questions from the matching question bank and focuses on loan, mortgage, borrower, originator, and state. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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NMLS SAFE Mortgage Loan Originator Test

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