Florida MLO Exam Info

Specific Florida 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 Florida MLO exam keeping up with the changes as they occur in Florida.

MLO Practice Exams are organized into categories: When studying for your Florida 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 Florida MLO Exam.

Florida MLO Exam Questions Questions Are constantly Updated: We constantly update all of our Florida 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 Florida MLO Exam.

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

I.    Florida Office of Financial Regulation (5%)
A. Regulatory authority
B. Department/agency structure
C. Responsibilities and limitations

II.    State Law and Regulation Definitions (15%)
A. Florida Statute Chapter 494
B. Rules 69V-40.001-40.290, F.A.C.
C. Other State Law and Regulation Definitions

III.    License Law and Regulation (20%)
A. Persons required to be licensed
1. In state or out of state
2. Exemptions
B. Licensee qualifications and application process
1. 2. 3. 4.
Financial responsibility (net worth) 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
3. Other
D. License maintenance
1. Continuing education
2. Personal information updates and required notifications
3. Renewal
4. Record keeping and reporting
5. Suspension and reinstatement
E. Mortgage Guaranty Trust Fund

IV.    Compliance (45%)
A. Prohibited conduct and practices
B. Required conduct
C. Fees and charges
D. Disclosures and agreements
E. Advertising
F. Escrow account requirements

V.    Disciplinary Action (10%)
A. Notifications, hearings, and appeals
B. Suspension, revocation, and rescission of licenses
C. Penalties/fines
D. Civil and criminal liability

Unique State Test Areas (5%)
A. Florida Homestead Exemption Law
B. Florida Anti-Coercion Law
C. Lien theory/Title theory mortgage state
D. Florida loan modification requirements

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