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Exam MLO topic 1 question 59 discussion

Actual exam question from NMLS's MLO
Question #: 59
Topic #: 1
[All MLO Questions]

How many days after loan consummation does a lender have to refund an excess charge subject to the 10% aggregate tolerance?

  • A. 45 days
  • B. 50 days
  • C. 60 days
  • D. 90 days
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Suggested Answer: C 🗳️
by db6875c at Aug. 7, 2025, 3:29 a.m.

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db6875c
3 months, 3 weeks ago
Selected Answer: A
I guess A is the right answer. any excess funds or overcharges should be returned within 45 days as per the TIRD
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