Hawaii MLO Exam Info

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

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

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

SAFE Mortgage Loan Originator Test " State Component Hawaii Content Outline (45 scored test questions; 10 unscored test questions)

I.    Hawaii Division of Financial Institutions (5%)
A. Regulatory authority
B. Division/agency structure
C. Responsibilities and limitations

II.    Hawaii State Law and Regulation Definitions (10%)
A. Hawaii Revised Statutes Chapter 454F
B. Other State Law and Regulation Definitions

III.    Hawaii License Law and Regulation (25%)
A. Persons required to be licensed
1. In state or out of state
2. Exemptions
B. Licensee qualifications and application process
1. Financial responsibility
2. Background check and fingerprints (criminal check; credit report)
3. Prelicensing education
4. Testing and retesting
C. Grounds for denying a license
1. Criminal convictions
2. Previous revocation
3. Other Financial Integrity
D. License maintenance
1. Continuing education
2. Personal information updates and required notifications
3. Renewal
4. Suspension and reinstatement

IV.    Compliance (45%)
A. Prohibited conduct and practices
B. Required conduct
1. Examination and Investigation
2. Changes in Operation (change of control, voluntary cessation of operation, establishment of branches)
3. Compliance by independent contractors
C. Mortgage Loan Recovery Fund
D. Record keeping and reporting
E. Fees and charges F. Disclosures and agreements
G. Advertising

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

VI.    Hawaii Unique State Test Areas (5%)
A. Principal place of business requirement
B. Land court dual system
C. Lava zones
D. Hurricane insurance
E. Non-warrantable condominiums

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