Free Practice NMLS MLO Exam Questions 2025

Stay ahead with 100% Free Mortgage Loan Origination (SAFE MLO) Exam MLO Dumps Practice Questions

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Total 122 Questions | Updated On: Apr 21, 2025

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Question 1

Which of the following statements describes the purpose of the TILA-RESPA Integrated Disclosure (TRID)?

A : It provides a three-day cooling-off period for all loans

B : It allows borrowers five days to review the final amount needed for settlement.

C : It ensures that the terms and fees that are quoted at the time of application do not change.

D : It aids borrowers in understanding the loan transaction process by utilizing readily understandable language

Answer: D

Question 2

Which of the following statements describes the purpose of the TILA-RESPA Integrated Disclosure (TRID)?

A : It provides a three-day cooling-off period for all loans

B : It allows borrowers five days to review the final amount needed for settlement.

C : It ensures that the terms and fees that are quoted at the time of application do not change.

D : It aids borrowers in understanding the loan transaction process by utilizing readily understandable language

Answer: D

Question 3

An easement:

A : is a mortgage modification.

B : is a right to cross or otherwise use someone else's land for a specified purpose.

C : allows a loan applicant to close on a loan even if all the stipulations have not been met.

D : allows a borrower to make less than the required payments without going through a full mortgage modification.

Answer: B

Question 4

An easement:

A : is a mortgage modification.

B : is a right to cross or otherwise use someone else's land for a specified purpose.

C : allows a loan applicant to close on a loan even if all the stipulations have not been met.

D : allows a borrower to make less than the required payments without going through a full mortgage modification.

Answer: B

Question 5

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

Page: 1 / 25

Total 122 Questions | Updated On: Apr 21, 2025

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