SAFE Act Test Prep West Virginia

Course State Exam Test Prep: West Virginia
$59

$47

This course includes the following:
State Exam Test Prep: West Virginia

This course is designed to prepare you to pass the NMLS West Virginia 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 – State Component
WEST VIRGINIA Content Outline
(50 scored test questions; 10 unscored test questions)


I. West Virginia Division of Banking (5%)
A. Regulatory authority
B. Department/agency structure
C. Responsibilities and limitations


II. West Virginia Law and Regulation Definitions (15%)
A. West Virginia Residential Mortgage Lender, Broker, and Servicer Act
B. West Virginia Consumer Credit and Protection Act
C. West Virginia SAFE Mortgage Licensing Act
D. Code of State Rules Title 106, Series 5 (Rule Pertaining To Residential
Mortgage Lenders, Brokers, And Loan Originators)
E. Other State Law and Regulation Definitions


III. West Virginia License Law and Regulation (20%)
A. Persons required to be licensed
1. Activities requiring licensure
2. Exemptions
B. Licensee qualifications and application process
1. Financial responsibility (surety bond and 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%)Last Updated: 5/11/10
A. Notifications, hearings, and appeals
B. Suspension, revocation, and rescission of licenses
C. Penalties/fines
D. Civil and criminal liabilityLast Updated: 5/11/10


West Virginia State Test Component Reference List
A number of references and resources are used to develop the SAFE Mortgage Loan
Originator Test. The following list is intended to be used as a guide to help candidates
prepare for the test component; however, it is not intended to be an all-inclusive list.
• Code of State Rules, Title 106, Series 5 – Rule Pertaining to Residential Mortgage
Lenders, Brokers and Loan Originators
• West Virginia Code Chapter 31, Article 17
• West Virginia Code Chapter 31, Article 17A
• West Virginia Code Chapter 39A, Article 1
• West Virginia Code Chapter 46A, Article 1
• West Virginia Code Chapter 46A, Article 2
• West Virginia Code Chapter 46A, Article 3
• West Virginia Code Chapter 46A, Article 6
• West Virginia Code Chapter 46A, Article 6C
• West Virginia Code Chapter 46A, Article 6K
• West Virginia Code Chapter 46A, Article 7
• West Virginia Code Chapter 47, Article



Course State Exam Test Prep: West Virginia
$59

$47