State Exam Test Prep: New Jersey

Course State Exam Test-Prep: New Jersey
$59
$47

This course includes the following:
State Exam Test Prep: New Jersey

This course is designed to prepare you to pass the NMLS New Jersey 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
New Jersey Content Outline
June 19, 2009
50 scored test questions; 10 unscored test question

 

I. New Jersey Department of Banking and Insurance (5%)

A. Regulatory authority
B. Department/agency structure
C. Responsibilities and limitations

 

II. State Law and Regulation Definitions (10%)

A. NJAC 3:1-16.1-11 Mortgage Loans, Fees, Obligations
B. Title 46 Real Property Law
C. New Jersey Residential Mortgage Lending Act and Regulations
D. Other state laws and regulation definitions

 

III. New Jersey Residential Mortgage Lending Act and Regulations (20%)

A. Persons required to be licensed

1. Persons required to be licensed
2. Exemptions

B. Licensee qualifications and application process

1. Financial responsibility (surety bond, 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

A. Persons or entities required to be licensed

1. Loan originators
2. License companies
3. Exemptions

B. Licensee qualifications and application process

1. Financial responsibility (surety bond, net worth, or recovery fund)
2. Background check and fingerprints (criminal check; credit report)
3. Pre-licensing education and experience
4. Testing and retesting

C. Grounds for denying 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 (45%)

A. Prohibited conduct and practices

1. Title 31

B. Required conduct

C. Fees and charges

D. Disclosures and agreements

E. Advertising

1. NJAC 3:2-1-9

 

V. Disciplinary Action (10%)

A. Notifications, hearings, and appeals

B. Suspension, revocation, and rescission of licenses

C. Penalties/fines

D. Civil and criminal liability

 

VI. Unique State Test Areas (10%)

A. Title 46 – New Jersey Home Ownership Security Act of 2002 as Amended
(Anti-Predatory Lending Law)

Course State Exam Test-Prep: New Jersey
$59
$47

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