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- Lisa Sage, Clearwater Florida

Colorado State Exam Info

Specific Colorado MLO Exam Content: There is no such thing as a "standard" mortgage loan originator Exam. All states have varied content from each other. This is why we spend so much time preparing the individual content for the Colorado MLO exam keeping up with the changes as they occur in Colorado.

MLO Practice Exams are organized into categories: When studying for your Colorado MLO exam it is important to know your areas of weakness. We have taken the time to divide up the content into categories such as Federal Law, Loan Origination, General Loan knowledge and ethics. Each Category is graded separately to make it easier to identify and focus on your areas of weakness. Also included are master MLO Exams which incorporate all of the different categories into one test to help prepare you for your Colorado MLO Exam.

Colorado MLO Exam Questions Questions Are constantly Updated: We constantly update all of our Colorado practice questions, including our national practice questions, our explanations and answers, and other content. These all unite to give you the most comprehensive and up to date information for your Colorado MLO Exam.

SAFE Mortgage Loan Originator Test  State Component COLORADO Content Outline (50 scored test questions; 10 unscored test questions)

I.    Colorado Department of Regulatory Agencies (5%)
A. Division of Real Estate B. Department/agency structure
1. Director led model (Title I) C. Responsibilities and limitations

II.    Colorado Law and Regulation Definitions (10%)
A. The Mortgage Loan Originator Licensing Act (Title 12, Article 61, Part 9) B. Other Colorado Law and Regulation Definitions

III.    Colorado License Law and Regulation (25%)
A. Persons required to be licensed
1.    In state
2.    Out of state (non resident)
3. Exemptions
B. Licensee qualifications and application process 1. 2. 3. 4.
Financial responsibility (surety bond and errors & omissions) Background check and fingerprints (criminal check) Pre-licensing education and experience Testing and retesting
C. Grounds for denying a license (Title 12, Article 61, Part 905)
1.    Criminal convictions
2.    Previous revocation
a. Licenses other than MLO
3. Prohibition
D. License maintenance
1.    Continuing education
2.    Personal information updates and required notifications
a. Maintain personal information updates online 3. Renewal
4.    Record keeping and reporting
5.    Suspension and reinstatement

IV.    Compliance (50%)
A. Prohibited conduct and practices
B. Required conduct
C. Fees and charges
D. Disclosures and agreements
E. Advertising Last Updated: 8/16/2010

V. Disciplinary Action (10%)
A. Notifications, hearings, and appeals
1. Unlicensed activities cease & desist orders
B.  Suspension, revocation, and rescission of licenses
C. Penalties/fines/restitution
D. Civil and criminal liability