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


Sample Test

Questions:
125 (5 Available in Sample Test)
Passing Grade:
75% (94 out of 125)
Time Allowed:
190 Minutes
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  • Introduction (0 Questions)
  • Uniform State Content (25 Questions)
    • Uniform State Test
      • Scoring of the Stand-Alone UST
    • Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) Regulation H
      • Background
      • Definitions
      • Model State Language
      • State Specific Choices
      • Mortgage Call Report
      • Unique Identifier
      • License Required
      • Issuance of License
      • Education Requirements
      • Test Information
      • License Renewal Through NMLS
      • NMLS Annual Processing Fees added to State Specific Fees
      • Registered Loan Originators
        • Comparison: Licensed to Registered
      • Privacy and Confidentiality
      • Acts and Practices
      • Investigation and Examination
      • State Examination Authority
      • Enforcement and Penalties
    • Mortgage Acts and Practices (MAP Rule) / Regulation N (Advertising Rule)
    • Advertising Guidelines (Truth-in-Lending Act)
  • Federal Mortgage Related Laws (31 Questions)
    • Real Estate Settlement and Procedures Act (RESPA) - Regulation X
      • Background
      • Definitions
      • Applicability
      • Disclosures
      • Good Faith Estimate Disclosure (GFE)
      • MLO Compensation on the GFE
        • Comparison of Loan Originator Compensation Options
      • Good Faith Estimate (GFE) From
      • HUD Real Estate Settlement Statement
      • Required Disclosures and Timing
      • Section 8
      • Enforcement and Penalties
    • Truth in Lending Act (TIL or TILA) - Regulation Z
      • Background
      • Definitions
      • Applicability
      • Disclosures
      • Rescission Rights of the Borrower
      • Tolerance for Accuracy
      • Required Disclosures and Timing of Forms
      • Prohibition on Steering - Loan Originator Compensation
      • Mortgage Servicing
      • Enforcement and Penalties
    • Home Ownership and Equity Protection Act (HOEPA) - High Cost Lending
      • Section 32 Loans (Section 1026.32 of TILA)
      • Background
      • Applicability
      • HOEPA Loan Types
      • Prohibited Acts or Practices
      • Required Disclosures and Timing of Forms
      • Enforcement and Penalties
    • Fair Housing Act (FHA, FH-A, FH Act) - Title VIII of the Civil Rights Act
      • Background
      • Required Disclosures and Timing
      • Enforcement and Penalties
    • Equal Credit Opportunity Act (ECOA) - Regulation B
      • Background
      • Definitions
      • Action Taken Requirements
      • Required Disclosures and Timing
      • Record Retention
      • Enforcement and Penalties
    • Home Mortgage Disclosure Act (HMDA) - Regulation C
      • Background
      • Definitions
      • Applicability
      • Required Disclosures and Timing
      • Enforcement and Penalties
    • Fair Credit Reporting Act (FCRA) - Regulation V
      • Background
      • Definitions
      • Applicability
      • Required Disclosures and Timing
      • Enforcement and Penalties
    • Fair and Accurate Credit Transactions Act (FACTA)
      • Background
      • Definitions
      • Applicability
      • Red Flag Rules
      • Disposal of Records
      • Required Disclosures and Timing
      • Enforcement and Penalties
    • Identity Theft Rules
      • Background
      • Definitions
      • Establishment of an Identity Theft Prevention Program
    • Privacy of Consumer Financial Information - Regulation P
      • Background
      • Definitions
      • Applicability
      • Other Requirements
      • Pretexting Protection
      • Required Disclosures and Timing
      • Enforcement and Penalties
    • Standards for Safeguarding Customer Information
      • Background
      • Definitions
      • Applicability
      • Standards for Safeguarding Customer Information
    • Mortgage Assistance Relief Services (MARS) - Regulation O
      • Background
      • Definitions
      • Applicability
      • Prohibited Representations
      • Disclosures Required in Commercial Communications
      • Record Keeping and Compliance Requirements
      • Actions by States
    • Telemarketing Sales Rule (TSR)
      • Background
      • Definitions
      • Applicability
      • Who You Can Call and When
      • Compliance with TSR
      • Safe Harbor
      • Enforcement and Penalties
    • Restrictions on Telemarketing, Telephone Solicitation and Facsimile (Fax) Advertising
      • Definitions
      • Delivery Restrictions
    • Flood Disaster Protection Act (FDPA) - Regulation H
      • Background
      • Applicability
      • Required Disclosures and Timing
      • Enforcement and Penalties
    • Homeowners Protection Act (HPA)
      • Background
      • Applicability
      • Cancellation of PMI
      • Required Disclosures and Timing
      • Enforcement and Penalties
    • Regulators for Federal Law
      • Consumer Financial Protection Bureau (CFPB)
      • Department of Housing and Urban Development (HUD)
      • Federal Trade Commission (FTC)
      • Federal Emergency Management Agency (FEMA)
      • Office of the Comptroller of the Currency (OCC)
    • Compliance with Federal Law and Delivery of Disclosure Forms
  • Mortgage Loan Originator Activity (25 Questions)
    • Program Acronyms
    • Financing Vehicles
    • Monthly Mortgage Payment
    • Ratios
    • General Math Calculations
    • Credit Scores and Internet Underwriting
    • Liabilities and Credit Reports
      • Types of Liabilities
      • Debts Listed on Paystubs
      • Debt Considerations
      • Consumer Rights Regarding Credit Repaid
      • Bankruptcies
      • Foreclosure, Forbearance, Deed-in-Lieu, Short Sale
    • Income
      • General Information
      • Income Types
      • Averaging Incom
      • Other Sources of Income
      • Self Employment
      • Tax Returns Needed
    • Assets
      • General Information
      • Downpayment Minimum
      • Payment Reserves
      • Interested Party Contributions
      • Source of Money for Downpayment / Closing Costs
    • Verifying and Reviewing Borrower Informaiton
      • Borrower Provided Verification
      • Third Party Verification
    • Uniform Residential Loan Application
    • Appraisal Requirements
      • Definitions
      • Conventional FNMA / FHLMC Appraisal Independence Requirements (AIR)
      • Government Loan Appraisal Information
      • Borrower Receipt of Appraisal
      • Three Approaches to Value
      • Types of Appraisals
      • Property Concerns
    • Title Insurance
      • Background
      • Applicability of Signing Mortgage and / or Quit Claim Deed
      • Title Registration System
      • Deed of Trust
      • Title Protection
      • Types of Title Policies
      • Parts of the Title Policy
      • Ownership Requirements
    • Processing and Underwriting
      • The Loan Process
    • Closing Documents
      • Loan Funding
      • Initial Loan Servicing is Established
  • General Mortgage Knowledge (25 Questions)
    • General Program Guidelines - All Programs
      • Definitions
      • Temporary Buydowns
      • LDP / GSA Checks
    • Conventional Loans - Fannie Mae (FNMA) & Freddie Mac (FHLMC)
      • Fixed Rate Mortgage (FRM)
      • Balloon Mortgage
      • Adjustable Rate Mortgage (ARM)
      • Graduated Payment Mortgage (GPM)
      • Construction Loan
      • Bi-Weekly Payments
      • Interest Only (IO) or Interest First (FNMA Only)
      • Combo Loans (Piggyback Loans)
    • Non-Conforming Loans
      • Jumbo Loans
      • Blanket Mortgage
      • Bridge Mortgage
      • Package Mortgage
      • Wraparound Mortgage
      • Subordination Financing (2nd Mortgages)
      • Commercial Loans
    • Government Loans
      • Federal Housing Administration (FHA)
      • Reverse Mortgage / FHA Home Equity Conversion Mortgage (HECM)
      • USDA Rural Development
      • Federal Veteran's Administration (VA)
  • Fraud, Predatory Lending, Ethics (19 Questions)
    • Mortgage Fraud
      • Overview
      • Straw Buyers
      • Property Flipping
      • Short Sale Fraud
      • Builder Bailout Scheme
      • Condominium Conversion Bailout Scheme
      • Chunking
      • Air Loans
      • Equity Theft
      • Foreclosure Rescue Scams
      • Shortgunning
      • Seller Assistance Scams
      • Silent Second
      • Enforcement and Penalties
        • The Fraud Enforcement and Recovery Act (FERA)
      • Case Study
    • Suspicious Activity Reports (SAR)
      • Background
      • Reports of Suspicious Transactions
      • Anti-Money Laundering Requirements
      • Fraud Indicators
      • Penalties for Not Filing
    • Mortgage Lending Ethics
      • Predatory Lending
      • Ethics Considerations
      • Ethical Behavior of Mortgage Loan Originators
      • Real Estate Settlement and Procedures Act (RESPA)
      • Truth in Lending Act
      • Privacy of Consumer Financial Protection Regulation
      • Fair Lending
    • Community Reinvestment Act (CRA) - Regulation BB
    • Discrimination Terms for Real Estate
    • Lender Prohibitions
    • Evaluating Income
    • Borrower Rights
  • End of Course Exam (0 Questions)
  • Appendix (0 Questions)
    • Website References
    • Mortgage Math Calculations
      • Practice Income Calculations
    • Glossary
    • Federal Law Flash Cards
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