20 Hour SAFE Comprehensive Exam
2026 Questions and Answers
The appraisal approach that is used as the best indicator of value for existing
properties is __________ - Correct Answer -Market Data Approach
Mortgage Loan originators who make cold calls must comply woth the
requirements of the National Do-Not-Call rules. The loan originator needs to
update any download of the registry at least every ___________ - Correct Answer -
31 days
The Truth in Lending Act is contained in Title I of the ________ - Correct Answer
-Consumer Credit Protection Act
FHA sellers are permitted to provide financing concessions up to 6 percent of the
__________ - Correct Answer -Sales Price
The APR disclosed for a regular transaction the allowable tolerance of
____________ - Correct Answer -.125%
©COPYRIGHT 2025 ALL RIGHTS RESERVED 1
, According to this principle the value of a commodity is influenced by the cost of
acquiring a substitute or comparable item: - Correct Answer -Principle of
substitution
The Consumer Financial Protection Act of 2010 establishes the Consumer
Financial Protection Bureau (CFPB), as an independent entity housed within the
_________ - Correct Answer -Federal Reserve System
The creditor is generally required to ensure that the consumer recieves the Closing
Disclosers (CD) - Correct Answer -3 days prior to consummation
Transactions exempt from RESPA include ___________ - Correct Answer -Loans
secured by parcels of 25 or more acres
VA's debt-to-income ratio is a ratio of total monthly debt payments (housing
expense, installment debt, etc.) to gross income. It is a guide and, as an
underwriting factor, it is secondary to the ___________ - Correct Answer -
Residual Income
The Equal Credit Opportunity Act, and the CFPB's implementing Regulation B,
prohibits discrimination in any aspect of a credit transaction on the basis of all of
the following except ___________ - Correct Answer -Immigration status
©COPYRIGHT 2025 ALL RIGHTS RESERVED 2
2026 Questions and Answers
The appraisal approach that is used as the best indicator of value for existing
properties is __________ - Correct Answer -Market Data Approach
Mortgage Loan originators who make cold calls must comply woth the
requirements of the National Do-Not-Call rules. The loan originator needs to
update any download of the registry at least every ___________ - Correct Answer -
31 days
The Truth in Lending Act is contained in Title I of the ________ - Correct Answer
-Consumer Credit Protection Act
FHA sellers are permitted to provide financing concessions up to 6 percent of the
__________ - Correct Answer -Sales Price
The APR disclosed for a regular transaction the allowable tolerance of
____________ - Correct Answer -.125%
©COPYRIGHT 2025 ALL RIGHTS RESERVED 1
, According to this principle the value of a commodity is influenced by the cost of
acquiring a substitute or comparable item: - Correct Answer -Principle of
substitution
The Consumer Financial Protection Act of 2010 establishes the Consumer
Financial Protection Bureau (CFPB), as an independent entity housed within the
_________ - Correct Answer -Federal Reserve System
The creditor is generally required to ensure that the consumer recieves the Closing
Disclosers (CD) - Correct Answer -3 days prior to consummation
Transactions exempt from RESPA include ___________ - Correct Answer -Loans
secured by parcels of 25 or more acres
VA's debt-to-income ratio is a ratio of total monthly debt payments (housing
expense, installment debt, etc.) to gross income. It is a guide and, as an
underwriting factor, it is secondary to the ___________ - Correct Answer -
Residual Income
The Equal Credit Opportunity Act, and the CFPB's implementing Regulation B,
prohibits discrimination in any aspect of a credit transaction on the basis of all of
the following except ___________ - Correct Answer -Immigration status
©COPYRIGHT 2025 ALL RIGHTS RESERVED 2
