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UTAH PLM EXAM
Utah requires 15 NMLS hours to get a mortgage loan originator license. This extra 15 hours of NMLS CE is a one-time deal besides the 20-hour NMLS CE course required for loan officers. If you want to be a manager because you have a branch office or a mortgage company, you need to take an additional 40 hours of NMLS CE course and take a state Principal Lending Manager (PLM) four-hour PLM exam. The exam is for the state of Utah DRE/DFI and is over 200 questions. The issue is getting study materials with practice exams for the Utah Principal Lending Manager license is very difficult. I had to take the 40-hour UTAH PLM course two times because the class is only good for one year. I failed the Utah Principal Lending Manager license twice and I am scheduled to take the third time on Monday July 24th, 2023. I will keep you all posted.
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24 Replies
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@gustan-cho I am excited for you to pass! I will take my Utah PLM sometime in 2024. I printed out the full UT-DRE workbook and studied for an additional three weeks before I took my Loan Originator test. It was well worth the extra effort.
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I need multiple choice practice exams for the Utah PLM exam. Do you know where I can buy them? I cannot find shit on practice exams.
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https://www.amazon.com/Certsmasters-MortUT-PLM-Principal-Practice-Learning/dp/B08CTBRPMF<div>
Product Description
In this Learning solution we have given the latest and unique collection of Practice Questions & Answers of this exam. Total no questions and answers will be meeting the quantity whichever provide by the exam vendor originally for this exam. Video session will be provided to validate all the Questions & Answers. Worldwide Professional recommends combining education courses and hands-on experience to prepare for your interview as questions will test your ability to apply the knowledge you have gained in training. Our Latest Collection of Practice Exams will help you out to crack your Exam for getting the better results in to your dream Job success. Amazing record of success Exam clearance rate. Join our success!
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This reply was modified 1 year, 3 months ago by Wendy.
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If I fail tomorrow, I am going to have to purchase this. This is getting serious now. Took the exam three times, and tomorrow will be my fourth attempt. Got a 62 today.
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This reply was modified 1 year, 3 months ago by
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THE UTAH PLM exam is Monday at 8 am CDT, and I don’t have practice questions except for the practice questions from the 40-hour UTAH PLM state course, which is a joke. No more than 8 questions per section for a total of seven sections and a final exam of 27 questions. WTF, if I fail, you can take it every day until you pass so I will have the WTF attitude and plan to be taking the exam every day until I pass. We shall see.
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Unfreaking believable. 530 PM CDT and my Utah PLM exam is tomorrow and been so busy screwing around all day and not studying. Too late now to study. If I am gonna fail tomorrow, might as well enjoy my evening and go puppy shopping and screw around watch YouTube videos and be miserable and study and fail in the morning.
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DOES UTAH REASSESS PROPERTY EVERY FIVE YEARS?
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For a high-cost mortgage loan in Utah, a pre-payment penalty is not prohibited from being included in the terms and conditions of the loan agreement.mIt cannot go beyond three years.
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The minimum amount of flood insurance coverage that is needed by the lender for a property located in a flood zone in Utah is 100% of the replacement cost of the insurable value of the improvements
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Lisa Williams is purchasing a one-unit Single-Family Home as a second home, with a sales price of $427,000 with maximum LTV on a conventional loan with a 6.5% interest rate on an ARM and is closing on Tuesday, March 10th. What is the total amount of the prepaid interest Lisa will pay at closing? Calculate based on a 365-day calendar year. &1505.61
Feedback: On Tuesday, March 10th, the loan will close and fund the same day because there is no right of recission on second homes. The maximum LTV on a second home is 90% = a loan amount of $384,300. Loan amount =$384,000 X .065 = $24,979.50 / 365 = $68.4369 X 22 days = $1,505.61 prepaid interest paid at consummation of the loan.
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Scheduled the Utah PLM exam again for tomorrow morning at 8 am. When I took the test this morning it was only 60 questions. I think the Utah PLM exam will credit you the right answers and retest your only on the wrong questions . I will see tomorrow morning.