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Mortgage Loan Origination (SAFE MLO) Exam

  • Exam Number/Code : MLO
  • Exam Name : Mortgage Loan Origination (SAFE MLO) Exam
  • Questions and Answers : 213 Q&As
  • Update Time: 2019-01-10
  • Price: $ 99.00 $ 39.00
MLO

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NEW QUESTION: 1
An accountant is required to comply with the provisions of Statements on Standards for Accounting and
Review Services when:
I. Reproducing client-prepared financial statements without modification, as an accommodation to a client.
II. Preparing standard monthly journal entries for depreciation and expiration of prepaid expenses.
A. Both I and II.
B. I only.
C. Neither I nor II.
D. II only.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Choice "D" is correct. An accountant is required to comply with the provisions of Statements on Standards
for Accounting and Review Services when submitting unaudited financial statements. Submission is
defined as: presenting to a client or third parties financial statements the accountant has prepared. An
accountant who reproduces client-prepared financial statements has not prepared those statements.
Preparation of standard monthly journal entries is a bookkeeping service that also does not involve
preparation of financial statements.

NEW QUESTION: 2
Which of the following is the BEST definition of an Event?
A. Reducing or eliminating the cause of an Incident or Problem
B. An unplanned interruption to an IT service
C. Any detectable or discernable occurrence that has significance for the management of the IT infrastructure
D. The unknown cause of one or more Incidents
Answer: C

NEW QUESTION: 3
Which two statements describe an effective Data Loss Prevention (DLP) program? (Select two.)
A. The desktop team primarily manages DLP.
B. Employee education is important.
C. DLP is best implemented as a departmental initiative.
D. DLP eliminates the need to document an incident response workflow.
E. Business stakeholders are held accountable for risk reduction.
Answer: B,E