NMLS Mortgage Loan Origination (SAFE MLO) - MLO Exam Questions [2026]

QUESTION NO: 1
What is the loan amount on the purchase price of $249,955.00 if the borrower is putting 18% down?

A. $204,966.10 B. $204,693.10 C. $204,936.10 D. $204,963.10

Correct Answer: B

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QUESTION NO: 2
Which of the following information is required to be included on Uniform Residential Loan Application?

A. Assets and liabilities B. Appraiser name and address C. Homeowners insurance provider D. Proof of homeownership counseling

Correct Answer: A

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QUESTION NO: 3
After receiving a completed application for a creditor's approval of a counteroffer, the creditor must notify an applicant of action taken within how many calendar days?

A. 60 calendar days B. 30 calendar days C. 20 calendar days D. 15 calendar days

Correct Answer: B

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QUESTION NO: 4
Which of the following practices is a prudent and reasonable cybersecurity precaution regarding laptop computers?

A. Passwords should only be shared with a direct supervisor. B. A laptop should never be taken out of the office. C. A laptop should automatically shut down and require a new login if not used for a period of time. D. A laptop should be shared by no more than five people.

Correct Answer: C

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QUESTION NO: 5
A written agreement guaranteeing a specific rate is called:

A. A lock-in agreement B. A loan application C. A preapproval letter D. An intent to proceed agreement

Correct Answer: A

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QUESTION NO: 6
How often must a nonexempt telemarketing entity check their call list against the National Do Not Call Registry?

A. Every 7 days B. Every 31 days C. Every 2 weeks D. Annually

Correct Answer: B

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QUESTION NO: 7
Which of the following items is a liquid asset?

A. Net worth of a business B. Publicly traded stocks C. Antique jewelry D. An automobile owned free and clear

Correct Answer: B

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QUESTION NO: 8
A mortgage loan originator who informs a prospective borrower that a certain loan interest rate can only be guaranteed if an application is submitted within the next 30 minutes is committing:

A. Coercion B. Discrimination C. Redlining D. Exaggeration

Correct Answer: A

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QUESTION NO: 9
During the loan application process, which of the following documents specifies the time period that a mortgage lender agrees to hold the mortgage interest rate at a certain percentage?

A. Loan application B. Preapproval letter C. Rate lock agreement D. Closing Disclosure

Correct Answer: C

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QUESTION NO: 10
Which of the following actions by a mortgage loan originator is prohibited regarding credit secured by a dwelling?

A. Providing disclosures within three days of an application B. Presenting program options that best qualify and satisfy the consumer C. Providing a copy of the credit application to the primary borrower D. Receiving compensation from both the borrower and the lender

Correct Answer: D

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