Delaware MLO Exam Info
Specific Delaware 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 Delaware MLO exam keeping up with the changes as they occur in Delaware.
MLO Practice Exams are organized into categories: When studying for your Delaware 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 Delaware MLO Exam.
Delaware MLO Exam Questions Questions Are constantly Updated: We constantly update all of our Delaware 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 Delaware MLO Exam.
SAFE Mortgage Loan Originator Test â€" State Component DELAWARE Content Outline (50 scored test questions; 10 unscored test questions)
I. Delaware Office of the State Bank Commissioner (5% - 2-3 items)
A. Regulatory authority
B. Department/agency structure
C. Responsibilities and limitations
II. Delaware Law and Regulation Definitions (10% - 5 items)
A. Mortgage Loan Originators Licensing Statute
B. Mortgage Loan Brokers Act
C. Licensed Lenders Act
D. Other State Law and Regulation Definitions
III. Delaware License Law and Regulation (25% - 12-13 items)
A. Persons required to be licensed
1. Activities requiring licensure
B. Licensee qualifications and application process
1. 2. 3. 4.
Financial responsibility (surety bond) Background check and fingerprints (criminal check; credit report) Pre-licensing education and experience Testing and retesting
C. Grounds for denying a license
1. Criminal convictions
2. Previous revocation
D. License maintenance
1. Continuing education
2. Personal information updates and required notifications
4. Record keeping and reporting
5. Suspension and reinstatement
IV. Compliance (50% - 25 items)
A. Prohibited conduct and practices
B. Required conduct
C. Fees and charges
D. Disclosures and agreements
V. Disciplinary Action (10% - 5 items)
A. Notifications, hearings, and appeals
B. Suspension, revocation, and rescission of licenses
D. Civil and criminal liability
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