State Exam Test Prep: Maryland

This course is designed to prepare you to pass the NMLS Maryland State Exam, with material and questions all tailored to the test outline!  This course includes:

1.  Over 150 test questions that simulate the state exam questions:

a.  You can take the test an unlimited amount of times

b.  The questions are randomized so each test is different

c.  Clickable wrong answers so that you know what section to review

2.  Printable and Online slides

3.  Notes that discuss each slide and provide further insight

The exam outline we follow is listed below.  Please enjoy the class!

SAFE Mortgage Loan Originator Test
Maryland Content Outline
June 18, 2009
45 scored test questions; 10 unscored test question

I. State of Maryland Department of Labor, Licensing and Regulation, Division
of Financial Regulation (5%)

A. Regulatory authority

B. Department/agency structure

C. Responsibilities and limitations

II. State Law and Regulation Definitions (10%)

A. Code of Maryland: Financial Institutions Article

B. Code of Maryland: Commercial Law Article

C. Other State Law and Regulation Definitions

III. 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. Financial responsibility (surety bond, letter of credit, net worth)
2. Background check and fingerprints (criminal check, credit report)
3. Pre-licensing education and experience
4. Testing and retesting

C. Grounds for denying a license

1. Criminal convictions
2. Previous revocation
3. Prohibition

D. License maintenance

1. Continuing education
2. Personal information updates and required notifications
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

V. Disciplinary Action (10%)

A. Notifications, hearings, and appeals

B. Suspension, revocation, and rescission of licenses

C. Penalties and fines

D. Civil and criminal liability