VanEd - Online Colorado Mortgage Broker Courses

Colorado Mortgage Broker Exam Prep

Exam Prep is included at no charge with all Colorado Mortgage Broker Licensing programs. Students may also enroll in the exam prep course independently of a licensing program.

This course is designed for students who have already completed their primary course work and want additional practice before taking the mortgage broker licensing exam.

Colorado Mortgage Broker Exam Prep Fees

FREE with either licensing course package
Stand Alone Course: $49

Exam Prep Course Content

The course consists of two comprehensive exams - Mortgage 101 and Mortgage Broker Law, designed to match the format and content of the Colorado licensing exams. The exam questions are drawn randomly from our pool of more than 250 total questions. Each time you take the exam, you will see a significant number of new questions, so we encourage you to take both exams as many times as you like.

Upon completion of an exam the student is provided a list of questions that are missed, with study hints for each question that link directly into our course material for immediate review.

Also provided is statistical breakdown of the exam questions by category, and an overall score for the exam. After more than one exam has been completed, a combined summary of results for all completed exams is available.

Example Test Questions

Question:	Non liquid assets....
Answers:	do not include retirement accounts Cannot be used as reserves required after closing Include real estate, cars, boats and motor homes Can be used at closing if they are cashed out or borrowed against
Study Hint:	Unit 2 - Loan Application/Sections Cont'd (VI)

Question:	A mortgage broker ....
Answers:	may not charge a fee benefiting him/herself that was not disclosed on the original good faith estimate may charge a fee, not disclosed on the original good faith estimate is not required to disclose all fees, unless specifically requested by the borrower may charge fees as he/she sees necessary
Study Hint:	Unit 3, Mortgage Brokers Law, 12-61-914 Written disclosure of fees and costs

Question:	Which law provides for a three-day right of rescission of a consumer loan that places a lien on the borrower's real property?
Answers:	The Truth-in-Lending Act RESPA The Equal Credit Opportunity Act The Uniform Commercial Code
Study Hint:	Unit 5, Right to Rescind

Example Exam Statistics

The reporting is designed to provide a student with the topic areas where additional study might be appropriate.

Mortgage Broker Law Exam Statistics

Category Pass
Rate Questions
Given Correct
Answers

Equal Credit Opportunity, Fair Credit Reporting, Fair and Accurate Transactions Acts 100% 8 8

RESPA, Regulation Z 50% 6 3

Home Mortgage Disclosure, Community Reinvestment, Gramm-Leach-Bliley Acts 100% 5 5

Fair Housing, Sherman Anti-Trust Acts 86% 7 6

Consumer Fraud, Patriot Act, Mail Fraud, FTC 100% 4 4

Colorado Consumer Protection Act, Insurance, Creation of Law 75% 4 3

Title 12 - Professions, Title 38 – Property 100% 6 6

Mortgage Broker Rules 88% 8 7

Mortgage Broker Position Statements 100% 5 5

Contract and Foreclosure in Colorado 86% 7 6

Final Score 88% 60 53

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Van Education Center - Online Real Estate School for Colorado Mortgage Broker Education
4801 Riverbend Rd., #203, Boulder, CO 80301 | info@vaned.com | 303-245-0258 or 1-800-455-8348
Approved & Regulated by the Colorado Dept of Higher Education, Private Occupational School Board