State Exam Test Prep: Indiana

Course State Exam Test Prep: Indiana Price $47


This course includes the following:
State Exam Test Prep: Indiana


This course is designed to prepare you to pass the NMLS Indiana 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 – State Component
INDIANA Content Outline
(55 scored test questions; 10 unscored test questions) 

I. Indiana Department of Financial Institutions or Indiana Secretary of State (5%)

A. Regulatory authority

1. Department of Financial Institutions
2. Indiana Secretary of State

B. Department structure

1. DFI – Deputy Director, Consumer Credit Division
2. SOS – Securities Commissioner

C. Responsibilities and limitations

1. DFI – Mortgage bankers and their mortgage loan originators
2. SOS – Mortgage brokers and their mortgage loan originators

II. Indiana Law and Regulation Definitions (15%)

A. First Lien Mortgage Lending (IC 24-4.4)
B. Uniform Consumer Credit Code (IC 24-4.5)
C. S.A.F.E. Rule (750 IAC 9)
D. Loan Broker Act (IC 23-2-5)
E. Indiana High Cost Mortgage Act (IC 24-9)
F. General knowledge definitions
G. Other Indiana Law and Regulation Definitions
H. Indiana Good Funds Law (IC 27-7-3.7)

III. Indiana License Law and Regulation (20%)

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
2. Background check and fingerprints (criminal check; credit report)
3. Pre-licensing education and experience
4. Testing and retesting
5. SOS – Principal Manager required

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 and best practices
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/fines
D. Civil and criminal liability

State Exam Test Prep: Indiana Price $47


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