2024 Florida Firefighter Exam with All 50 Questions from Actual Past Exam and 100% Correct Answers
2024 Florida Firefighter Exam with All 50 Questions from
Actual Past Exam and 100% Correct Answers
- Which of the following has responsibility for licensing and regulation of nondepository financial services companies in the state of Florida?
A. The Department of Housing and Urban Development (HUD)
B. The Florida Secretary of State
C. The Division of Finance (Office of Financial Regulation)
D. The Florida Attorney General ——- Correct Answer ——- c - The State of Florida had created new definitions for the type of licenses required for
mortgage licensees thus changing the type of license required to be held. When did or
do these new license definitions go into effect?
A. January 1, 2010
B. October 1, 2010
C. January 1, 2011
D. At the licensees next renewal ——- Correct Answer ——- b - At what age can you first apply for a loan originator license in Florida?
A. Eighteen (18)
B. Sixteen (16)
C. Twenty one (21)
D. Twenty five (25) ——- Correct Answer ——- a - Which of the following represents grounds for denial of a mortgage loan originator
license application?
A. The inability to provide legible fingerprints
B. A credit score below 620
C. Possessing an insurance license and or securities license
D. Being subject to a pending felony or an administrative enforcement involving fraud,
dishonesty, or breach of trust ——- Correct Answer ——- d - If an applicant has been through a personal mortgage foreclosure and or a recent
bankruptcy, how may that effect the application for licensing as a mortgage loan
originator?
A. It is grounds for denial
B. These are tough time so it would have no impact
C. These are personal finance issues and not subject to overview of the
Commissioner
D. If the deficient balance from the foreclosure did not exceed $10,000 it will not impact
the decision or impact the application ——- Correct Answer ——- a - In determining financial responsibility, general character and fitness, which of the
following cannot be used if the applicant’s credit history is insufficient?
A. Paid receipts for rent or utilities
B. Payment records on a personal loan
C. Credit scores
D. Hard money loan payment histories ——- Correct Answer ——- c
- What is the impact of a loan originator license revocation in another state on an
application for the same in the State of Florida?
A. No impact, that is an issue in the other state
B. License revocations in other states only contribute to the evaluation of the
applicant’s general credit fitness.
C. It is only an impact if the applicant were trying to originate in Florida using the out of
state license.
D. The office is prohibited from issuing a license to an applicant who has had a license
revoked in another state (mortgage loan originator licenses) ——- Correct Answer ——-
d - If it is determined that an applicant for a mortgage loan originator license lied about
the information provided to secure the license, what can the Office do about this
situation if the license has been issued?
A. Annul the license
B. Require the managing broker who employs the licensee to post a surety bond up to
$25,000
C. Require that the licensee provide a surety bond of up to $50,000
D. Do nothing except caulk it up to a bad evaluation and wait for renewal ——- Correct
Answer ——- a - If a MLO has not applied to renew their license in Florida on or before
December 31st, what happens to the license?
A. The applicant is provided a thirty (30) day window in which to still apply
B. The license expires and the applicant must cease doing business
C. The applicant must reapply and take the state portion of the SAFE Act test
D. The applicant must pay the renewal fee and a late fee penalty of $500 ——- Correct
Answer ——- b - A mortgage broker who wishes to open a branch office in Florida must pay an office
license fee of how much and with what condition?
A. $500 which can be paid in monthly installments
B. $250 with a bank draft or $300 if a cashier’s check is used
C. $225, however, the amount will not be prorated for a partial year license
D. $750 prorated monthly throughout the year ——- Correct Answer ——- c - Which of the following is required to be a mortgage loan processor in Florida?
A. A loan originator license
B. A DU approval designation from FNMA and FHLMC
C. A HUD approval as a loan processor who has completed eight (8) hours of training
D. A minimum of five (5) years experience ——- Correct Answer ——- a
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