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The SAFE Act Ch 6 Exam Questions With 100% Correct Answers
The SAFE Act Ch 6 Exam Questions 
With 100% Correct Answers 
Nontraditional Mortgage Product - answerDefined by the SAFE Act as any mortgage 
product other than a 30-year fixed rate mortgage; as defined by the Interagency Guidance on 
Nontraditional Mortgage Product Risk, allows a borrower to defer principal and, sometimes, 
interest. 
Registered Loan Originator - answerA natural person who is employed by a depository 
institution that is regulated by a federal banking agency and is exempt from ...
- Exam (elaborations)
- • 10 pages •
The SAFE Act Ch 6 Exam Questions 
With 100% Correct Answers 
Nontraditional Mortgage Product - answerDefined by the SAFE Act as any mortgage 
product other than a 30-year fixed rate mortgage; as defined by the Interagency Guidance on 
Nontraditional Mortgage Product Risk, allows a borrower to defer principal and, sometimes, 
interest. 
Registered Loan Originator - answerA natural person who is employed by a depository 
institution that is regulated by a federal banking agency and is exempt from ...
SAFE Mortgage Loan Originator Practice Exam
SAFE Mortgage Loan Originator Practice 
Exam 
Dodd-Frank Wall Street Reform/Consumer Financial Protection Act of 2010. - 
answerPromote the financial stability of the US by improving accountability and 
transparency in the financial system. 
(Created Consumer Financial Protection Act and Mortgage Reform an Anti-Predatory Lending). 
Consumer Financial Protection Bureau (CFPB) - answerProtect consumer, specifically from 
the fine print in the disclosures. Explains the risk involved by using these ...
- Package deal
- Exam (elaborations)
- • 1 pages •
SAFE Mortgage Loan Originator Practice 
Exam 
Dodd-Frank Wall Street Reform/Consumer Financial Protection Act of 2010. - 
answerPromote the financial stability of the US by improving accountability and 
transparency in the financial system. 
(Created Consumer Financial Protection Act and Mortgage Reform an Anti-Predatory Lending). 
Consumer Financial Protection Bureau (CFPB) - answerProtect consumer, specifically from 
the fine print in the disclosures. Explains the risk involved by using these ...
20 Hour SAFE Comprehensive Exam Questions With Verified Answers
20 Hour SAFE Comprehensive Exam 
Questions With Verified Answers 
The appraisal approach that is used as the best indicator of value for existing properties is 
__________ - answerMarket Data Approach 
Mortgage Loan originators who make cold calls must comply woth the requirements of the 
National Do-Not-Call rules. The loan originator needs to update any download of the registry at 
least every ___________ - answer31 days 
The Truth in Lending Act is contained in Title I of the ________ - answe...
- Package deal
- Exam (elaborations)
- • 5 pages •
20 Hour SAFE Comprehensive Exam 
Questions With Verified Answers 
The appraisal approach that is used as the best indicator of value for existing properties is 
__________ - answerMarket Data Approach 
Mortgage Loan originators who make cold calls must comply woth the requirements of the 
National Do-Not-Call rules. The loan originator needs to update any download of the registry at 
least every ___________ - answer31 days 
The Truth in Lending Act is contained in Title I of the ________ - answe...
S.A.F.E Mortgage Loan Originator Exam
S.A.F.E Mortgage Loan Originator Exam 
GLBA - answerGramm-Leah-Bliley Act 
FTC - answerFederal Trade Commission 
FCC - answerFederal Communications Commission 
NPI - answerNon-public Personal Information 
Consumer - answerIndividual who obtains financial services for personal use 
Customer - answerContinuing relationship with a financial institute 
EBR - answerEstablished Business Relationship 
FACTA - answerFair Credit Reporting Act (Original FCRA) 
FHA - answerFair Housing Act & Federal Housin...
- Package deal
- Exam (elaborations)
- • 7 pages •
S.A.F.E Mortgage Loan Originator Exam 
GLBA - answerGramm-Leah-Bliley Act 
FTC - answerFederal Trade Commission 
FCC - answerFederal Communications Commission 
NPI - answerNon-public Personal Information 
Consumer - answerIndividual who obtains financial services for personal use 
Customer - answerContinuing relationship with a financial institute 
EBR - answerEstablished Business Relationship 
FACTA - answerFair Credit Reporting Act (Original FCRA) 
FHA - answerFair Housing Act & Federal Housin...
SAFE Mortgage Loan Originator Test - National Component with Uniform State Content Exam Questions With Verified Answers
SAFE Mortgage Loan Originator Test - 
National Component with Uniform State 
Content Exam Questions With Verified 
Answers 
What does UST stand for? - answerUniform State Test 
Who does the CFPB protect? - answerThe Consumer Financial Protection Bureau protects 
consumers in the financial marketplace. 
What does the CFPB do? - answerCFPB is now in charge of implementing and enforcing 
most of the provisions of federal lending laws that relate to protecting consumers while they are 
shopping for,...
- Package deal
- Exam (elaborations)
- • 28 pages •
SAFE Mortgage Loan Originator Test - 
National Component with Uniform State 
Content Exam Questions With Verified 
Answers 
What does UST stand for? - answerUniform State Test 
Who does the CFPB protect? - answerThe Consumer Financial Protection Bureau protects 
consumers in the financial marketplace. 
What does the CFPB do? - answerCFPB is now in charge of implementing and enforcing 
most of the provisions of federal lending laws that relate to protecting consumers while they are 
shopping for,...
20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW Exam Questions With Verified Answers
20-HR SAFE Comprehensive Mortgage Loan 
Originator Fundamentals HW Exam 
Questions With Verified Answers 
Mortgage loan originators who make cold calls must comply with the requirements of the 
National Do-Not-Call rules. The loan originator needs to update any download of the registry at 
least every: 
31 days 
18 Months 
7 days 
Year - answer31 Days 
The appraisal approach that is used as the best indicator of value for existing properties is: 
Similar property approach 
Fair market value appr...
- Package deal
- Exam (elaborations)
- • 14 pages •
20-HR SAFE Comprehensive Mortgage Loan 
Originator Fundamentals HW Exam 
Questions With Verified Answers 
Mortgage loan originators who make cold calls must comply with the requirements of the 
National Do-Not-Call rules. The loan originator needs to update any download of the registry at 
least every: 
31 days 
18 Months 
7 days 
Year - answer31 Days 
The appraisal approach that is used as the best indicator of value for existing properties is: 
Similar property approach 
Fair market value appr...
The SAFE Mortgage Loan Originator National Exam Study Guide practice Exam 2 Questions With 100% Correct Answers
The SAFE Mortgage Loan Originator 
National Exam Study Guide practice Exam 2 
Questions With 100% Correct Answers 
1. Which of the following is NOT a loan origination activity? - answerC. Assisting in a loan 
modification 
2. A unilateral contract is binding on: - answerA. One party 
3. Loan originator organizations must keep compensation records for how many years? - 
answerC. Three 
4. Mortgage companies must submit a residential loan origination activity report to the NMLSR 
every: - answerB....
- Package deal
- Exam (elaborations)
- • 7 pages •
The SAFE Mortgage Loan Originator 
National Exam Study Guide practice Exam 2 
Questions With 100% Correct Answers 
1. Which of the following is NOT a loan origination activity? - answerC. Assisting in a loan 
modification 
2. A unilateral contract is binding on: - answerA. One party 
3. Loan originator organizations must keep compensation records for how many years? - 
answerC. Three 
4. Mortgage companies must submit a residential loan origination activity report to the NMLSR 
every: - answerB....
SAFE Mortgage Loan Originator Test Questions And Answers (Verified And Updated)
SAFE Mortgage Loan Originator Test 
Questions And Answers (Verified And 
Updated) 
Prequalification - answeran estimate of the loan amt. for which the buyer can qualify based 
on his income/credit under the lenders standards 
USDA ratio - answer29/41 
FHA ratio - answer31/43 
Asset based loan - answer-loans based on borrowers equity 
-bad when lenders fail to consider ability to repay 
High Cost Loan - answerReg Z - Sec. 1026.32 
-APR will exceed by more than 6.5% for first lien loans or by more...
- Package deal
- Exam (elaborations)
- • 10 pages •
SAFE Mortgage Loan Originator Test 
Questions And Answers (Verified And 
Updated) 
Prequalification - answeran estimate of the loan amt. for which the buyer can qualify based 
on his income/credit under the lenders standards 
USDA ratio - answer29/41 
FHA ratio - answer31/43 
Asset based loan - answer-loans based on borrowers equity 
-bad when lenders fail to consider ability to repay 
High Cost Loan - answerReg Z - Sec. 1026.32 
-APR will exceed by more than 6.5% for first lien loans or by more...
MLO SAFE NMLS Safe Test Practice Questions And Answers (Verified And Updated)
MLO SAFE NMLS Safe Test Practice 
Questions And Answers (Verified And 
Updated) 
Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan 
terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called 
__________________________. - answerPredatory Lending. 
RESPA-Real Estate Settlement Procedures Act - answerThe Federal Statute that deals with 
the settlement of residential mortgage loans. 
RESPA's section 9 Prohibits - a...
- Package deal
- Exam (elaborations)
- • 29 pages •
MLO SAFE NMLS Safe Test Practice 
Questions And Answers (Verified And 
Updated) 
Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan 
terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called 
__________________________. - answerPredatory Lending. 
RESPA-Real Estate Settlement Procedures Act - answerThe Federal Statute that deals with 
the settlement of residential mortgage loans. 
RESPA's section 9 Prohibits - a...
SAFE Act/ Uniform State Test(UST) Exam Questions And Answers (Verified And Updated)
SAFE Act/ Uniform State Test(UST) Exam 
Questions And Answers (Verified And 
Updated) 
SAFE Act purpose is - answerto create uniform regulation of mortgage loan originators in 
every state 
Secure and Fair Enforcement for Mortgage Licensing Act of 2008 
SAFE Act - answerRegulation H for state licensed 
Regulation G for Federal Depository Institutions 
Before the crash of 2007, there was very little regulation of... - answerLoan Originators 
HERA was created... - answerThe Housing and Economic Re...
- Package deal
- Exam (elaborations)
- • 4 pages •
SAFE Act/ Uniform State Test(UST) Exam 
Questions And Answers (Verified And 
Updated) 
SAFE Act purpose is - answerto create uniform regulation of mortgage loan originators in 
every state 
Secure and Fair Enforcement for Mortgage Licensing Act of 2008 
SAFE Act - answerRegulation H for state licensed 
Regulation G for Federal Depository Institutions 
Before the crash of 2007, there was very little regulation of... - answerLoan Originators 
HERA was created... - answerThe Housing and Economic Re...
Washington Pesticide Laws and Safety Exam Questions With Correct Answers
Jurisprudence CDRE Exam Questions With 100% Correct Answers
Thought this would have questions to answer. This document is unorganized.
Psych 375 Final EXAM QUESTIONS With 100% Correct Answers
Straighterline Microbiology Final Exam 2024 Questions With 100% Correct Answers
MRSO Exam Prep Questions with 100% Correct Answers 2024