State Exam Test Prep: New York

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

This course includes the following:

This course is designed to prepare you to pass the NMLS New York 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 York Content Outline
November 2, 2009
55 scored test questions; 5-10 unscored test question

 

 

I. New York State Banking Department (5% = 2-3 scored questions)

A. Regulatory authority

B. Department/agency structure

C. Responsibilities and limitations

 

II. New York State Law and Regulation Definitions (15% = 8-9 scored questions)

A. Articles 12-D and 12-E of the New York Banking Law

B. Part 420 of the Superintendent’s Regulations

C. Part 38 and 41 of the Banking Board

D. Other State Law and Regulation Definitions

 

III. New York License Law and Regulation (20% = 11 scored questions)

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)
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
4. Character and fitness

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% = 24-25 scored questions)

A. Prohibited conduct and practices

B. Required conduct

C. Fees and charges

1. General fees and charges
2. NY mortgage recording tax

D. Disclosures and agreements

E. Advertising

 

V. Disciplinary Action (10% = 5-6 scored questions)

A. Notifications, hearings, and appeals

B. Suspension, revocation, and rescission of licenses

C. Penalties/fines

D. Civil and criminal liability

 

VI. Unique New York State Test Areas (5% = 2-3 scored questions)

A. New York Real Property Law, Sections 265 and 265-b

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

State Exam Test Prep: New York

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