5 Questions
What is the maximum penalty that the State Regulatory Authority may impose for each violation?
$25,000
Which of the following is NOT a purpose of the SAFE Act?
Reduce fraud by creating an enforcement agency that prosecutes unethical activity
What capital amount per licensed location must a Mortgage Lender maintain?
An amount determined by the State Regulatory Authority that reflects the dollar amount of loans originated.
What is the minimum passing score of the National Test with UST?
75%
How long must an applicant wait to receive a new license if they have previously had their license revoked?
5 years
Test your knowledge of mortgage regulation with this quiz. See how much you know about penalties imposed by State Regulatory Authority and the objectives of the SAFE Act.
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