Nationwide Multistate Licensing System NMLS Quiz
20 questions · no time limit
0:00
Finish quiz
FEDERAL MORTGAGE-RELATED LAWS
Question 1
of 20
Flag for review
No time limit
Current
Answered
Flagged
Not seen
A $280,000.00 loan at
6.750%
has $2,800.00 points and $1,400.00 origination. What is the approximate
APR
impact direction?
A
APR will be higher than 6.750% due to prepaid finance charges
B
APR will equal 6.750% because points are not finance charges
C
APR will be lower than 6.750% because fees reduce interest
D
APR is unaffected unless the loan is an ARM
YOUR PROGRESS
20
QUESTIONS
Ready when you are
Answer in any order. Your progress shows here as you go.
QUESTIONS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
KEYBOARD
Pick an answer
A
B
C
D
Next question
↵
→
Previous
←
Flag for review
F