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Exam Code: MLO
Exam Name: Mortgage Loan Origination (SAFE MLO) Exam
Vendor: NMLS

60 Questions & Answers
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NEW QUESTION: 1
In financial reporting of segment data, which of the following must be considered in determining if an
industry segment is a reportable segment?

A. Option B
B. Option C
C. Option A
D. Option D
Answer: C
Explanation:
Choice "a" is correct. A segment is considered reportable if its reported revenue, including sales to
unaffiliated customers and intersegment sales, is 10% or more of the combined revenue (unaffiliated and
intersegment) of all operating segments.
Choices "b", "c", and "d" are incorrect, per the above Explanation: .

NEW QUESTION: 2
You work as a project manager for a company. The company has started a new security software project.
The software configuration management will be used throughout the lifecycle of the project. You are tasked to modify the functional features and the basic logic of the software and then make them compatible to the initial design of the project. Which of the following procedures of the configuration management will you follow to accomplish the task?
A. Configuration control
B. Configuration identification
C. Configuration audits
D. Configuration status accounting
Answer: A
Explanation:
Explanation/Reference:
Explanation: Configuration control is a procedure of the Configuration management. Configuration control is a set of processes and approval stages required to change a configuration item's attributes and to re- baseline them. It supports the change of the functional and physical attributes of software at various points in time, and performs systematic control of changes to the identified attributes. Answer: C is incorrect.
Configuration audits confirm that the configuration identification for a configured item is accurate, complete, and will meet specified program needs. Configuration audits are broken into functional and physical configuration audits. They occur either at delivery or at the moment of effecting the change. A functional configuration audit ensures that functional and performance attributes of a configuration item are achieved, while a physical configuration audit ensures that a configuration item is installed in accordance with the requirements of its detailed design documentation. Answer: D is incorrect. Configuration identification is the process of identifying the attributes that define every aspect of a configuration item. A configuration item is a product (hardware and/or software) that has an end-user purpose. These attributes are recorded in configuration documentation and baselined. Baselining an attribute forces formal configuration change control processes to be effected in the event that these attributes are changed. Answer: A is incorrect. The configuration status accounting procedure is the ability to record and report on the configuration baselines associated with each configuration item at any moment of time. It supports the functional and physical attributes of software at various points in time, and performs systematic control of accounting to the identified attributes for the purpose of maintaining software integrity and traceability throughout the software development life cycle.

NEW QUESTION: 3
What are the European Union Directives on Money Laundering?
A. They are voluntary codes of best practice for the financial sector
B. They require members to implement certain laws of prevent money laundering
C. They are written by the Wolfsberg Group
D. They require financial institutions to report suspicious activity to the Egmont Group in Brussels
Answer: B


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