MLO Exam Dumps : Mortgage Loan Origination (SAFE MLO) Exam

The Gramm-Leach-Bliley Act (GLBA) prohibits the disclosure of nonpublic personal information about consumers to third parties, except as permitted by law (e.g., for processing the loan). Discussing a consumer’s credit history in a public place where privacy cannot be ensured is a violation of GLBA privacy rules.

“Financial institutions must protect the confidentiality of consumer records and information. Discussing customer information in public or unsecured locations can violate privacy regulations.”

— GLBA Privacy Rule; FTC Compliance Guidelines

Other choices reflect permissible or prudent actions, such as sharing information with authorized third parties or using secure data storage.

First, calculate the monthly interest-only payment:

Loan Amount: $239,500

Interest Rate: 7.25% annual

Monthly Interest: $239,500 × 0.0725 ÷ 12 = $1,447.29

Add escrow for taxes and insurance:

Annual Insurance: $551 ÷ 12 = $45.92

Annual Taxes: $1,773 ÷ 12 = $147.75

Total escrow per month: $45.92 + $147.75 = $193.67

Total monthly payment:

$1,447.29 (interest-only) + $193.67 (escrow) = $1,640.96

Closest answer: C. $1,640.65

The slight difference is likely due to rounding, but C is the best match.

The maximum available flood insurance structure coverage for a residential property under the National Flood Insurance Program (NFIP) is £250,000. The NFIP is a federal program that provides flood insurance to property owners in participating communities.

The £250,000 limit applies specifically to residential property structures. For contents coverage, the maximum is $100,000.

Higher coverage limits, such as $500,000 or $1,000,000, may be available through private insurers, but the NFIP itself caps coverage at $250,000 for structures.