Sellens Real Estate Lending
Professional Real Estate Lending since 1991
NMLS Quiz Questions
See if you know the answers to these questions:
Overview SAFE Act California test component questions that help you get started correctly:
Who needs to be licensed?
a) Anyone who originates a loan,
b) All contract loan processors,
c) All contract underwriters,
d) All of the above.
ans d)
Which are the correct references and abbreviations:
a) California Residential Mortgage Lending Act, CRML, CRMLA, RML, Mortgage Lender, Mortgage Banker,
b) California Finance Lender License, CFL, CFLL, FL, Finance Lender,
c) Department of Real Estate, DRE License, Mortgage Broker,
d) All of the above.
ans d)
The abbreviation “MLO” refers to:
a) a personal mortgage loan originator,
b) a company licensed to originate loans,
c) Both 1) and 2)
d) All of the above.
ans d)
Which of the following need a separate company identifier license as well as an individual NMLS identifier number:
a) an employee, working for a CFL company,
b) an independent contractor working for a RML licensee,
c) a sole proprietor, originating loans under his dba name, without having any mortgage loan originators under his license,
d) an administrative employee working for a CFL licensee.
ans c)
Please visit the following link for more study information:
How I passed my California SAFE State Licensing Component Test.
The California SAFE Test was much easier than the National Test Component
Rumor is, she wrote the NMLS test!
