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  1. Home
  2. NMLS
  3. MLO

NMLS MLO Exam (page: 1)
NMLS Mortgage Loan Origination
Updated on: 11-Aug-2025

Viewing Page 1 of 25
MLO PDF 120 Questions

Which of the following circumstances may indicate fraud with respect to the assets a borrower will use for closing?

  1. Bank deposits that are not supported by income or other disclosures
  2. Disclosure of gift funds
  3. Parental loans disclosed but not yet received
  4. Borrower's receipt of a large bonus from an employer

Answer(s): A


Reference:

https://www.fincen.gov/mortgage-loan-fraud



When a mortgage loan originator notices multiple Social Security number discrepancies within the same loan file, it is considered a red flag of:

  1. fair lending.
  2. mortgage fraud.
  3. a forgetful borrower.
  4. pricing discrepancies.

Answer(s): B


Reference:

https://www.fincen.gov/resources/advisories/fincen-advisory-fin-2012-a009



Which of the following property value approaches does an appraiser use on a rental property?

  1. Cost approach
  2. Income approach
  3. Annual approach
  4. Sales comparison approach

Answer(s): B


Reference:

https://www.bnlappraisal.com/blog/three-approaches-to-value



How many continuing education hours must mortgage loan originators complete every year to renew their license?

  1. 3 hours
  2. 8 hours
  3. 16 hours
  4. 20 hours

Answer(s): B


Reference:

https://www.oncourselearning.com/mortgage/continuing-education



Which of the following activities is an example of redlining in mortgage lending?

  1. Ensuring that all creditworthy borrowers are afforded equal treatment when applying for a mortgage loan
  2. The mortgage loan originator convincing the underwriter to move their loan file to the front of the line or "redline" it
  3. The act of the mortgage lender putting a "red line" under the borrower's name in a file to indicate they are a substandard applicant
  4. The systematic denial of various services to residents of specific, often racially associated, neighborhoods or communities, either explicitly or through the selective raising of prices

Answer(s): D


Reference:

https://www.forbes.com/advisor/mortgages/real-estate/what-is-redlining/



Viewing Page 1 of 25



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