100% Free NMLS MLO Practice Test Questions and Answers 2026

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Total 122 Questions | Updated On: May 23, 2026

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Question 1

Which of the following reasons is acceptable for denying a loan under the Equal Credit Opportunity Act (ECOA)?

A : Receipt of child support

B : Immigration status

C : Marital status

D : Country of birth

Answer: B

Question 2

Which of the following items is a liquid asset?

A : Antique jewelry

B : Publicly traded stocks

C : Net worth of a business

D : An automobile owned free and clear

Answer: B

Question 3

Which of the following acts requires mortgage loan originators to complete annual continuing education to satisfy the requirement for licensure?

A : The SAFE Act

B : The Dodd-Frank Act

C : The Truth in Lending Act (TILA)

D : The Equal Credit Opportunity Act

Answer: A

Question 4

A woman and her son meet with a mortgage loan originator (MLO) about refinancing the mother's home. During the meeting, the MLO senses that the mother is against the transaction and may be being unfairly coerced into the procedure. In which of the following ways should the MLO proceed?

A : Ask to speak to the mother privately to inquire whether she Is a willing participant in the transaction

B : [Consider the issue to be a private family matter and proceed with the next steps in the application process

C : Suggest that the son be listed as a co-borrower on the mortgage to ensure he assumes part of the risk of the loan

D : Tell the mother that she needs to sign a power of attorney so that her son may complete the transaction on her behalf

Answer: A

Question 5

An easement:

A : is a mortgage modification.

B : is a right to cross or otherwise use someone else-s land for a specified purpose.

C : allows a loan applicant to close on a loan even if all the stipulations have not been met.

D : allows a borrower to make less than the required payments without going through a full mortgage modification.

Answer: B

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Total 122 Questions | Updated On: May 23, 2026

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