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Catalyst Mortgage Solutions - Minnesota Licensing Exam Test Prep
Test Center
Minnesota Licensing Exam Test Prep (Sample)
Status
Not Passed


Sample Test

Questions:
45 (5 Available in Sample Test)
Passing Grade:
75% (34 out of 45)
Time Allowed:
90 Minutes
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  • Minnesota Department of Commerce (3 Questions)
    • Regulatory Authority
    • Department / Agency Structure
    • Responsibilities and Limitations
  • State Law Definitions (5 Questions)
    • The Minnesota SAFE Mortgage Licensing Act of 2010
    • The Minnesota Residential Mortgage Originator and Servicer Licensing Act
    • Other State Law and Regulation Definitions
  • License Law and Regulations (11 Questions)
    • Persons Required to be Licensed
      • Resident or Non-resident
      • Exemptions
    • Licensee Qualifications and Application Process
      • Financial Responsibility (Surety Bond)
      • Background Check and Fingerprints (Criminal Check; Credit Report)
      • Prelicensing Education
      • Testing and Retesting
    • Grounds for Denying a License
      • Criminal Convictions
      • Previous Revocation
      • Prohibition
    • License Maintenance
      • Continuing Education
      • Personal Information Updates and Required Notifications
      • Renewal
      • Record Keeping and Reporting
      • Suspension and Reinstatement
  • Compliance (22 Questions)
    • Prohibited Conduct and Practices
    • Required Conduct
    • Fees and Charges
    • Disclosures and Agreements
    • Advertising
    • Trust Account Requirements
  • Disciplinary Action (4 Questions)
    • Notification, Hearings and Appeals
    • Suspension, Revocation, and Rescission of Licenses
    • Penalties / Fines
    • Civil and Criminal Liability
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