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Exam Review

Key Facts: Kansas MLO Exam

55

Exam Questions

NMLS

75%

Passing Score

NMLS

12 months

Redemption Period

Kansas Statutes

$50,000

Min Surety Bond

KS Mortgage Business Act

The Kansas state MLO exam covers the Kansas Mortgage Business Act, OSBC regulatory authority, judicial foreclosure with sheriff's sales, the 12-month statutory redemption period (reducible to 3 months for abandoned property), surety bond and net worth requirements, and homestead protection provisions under the Kansas Constitution.

Sample Kansas MLO Practice Questions

Try these sample questions to review concepts for the Kansas MLO exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 200+ question experience with AI tutoring.

1Which state agency is primarily responsible for regulating mortgage loan originators in Kansas?
A.Kansas Department of Commerce
B.Kansas Office of the State Bank Commissioner
C.Kansas Securities Commission
D.Kansas Attorney General's Office
Explanation: The Kansas Office of the State Bank Commissioner (OSBC) is the primary state agency responsible for licensing and regulating mortgage loan originators in Kansas. The OSBC administers the Kansas Mortgage Business Act and oversees compliance through the NMLS system.
2How many hours of pre-license education are required for an MLO license in Kansas?
A.15 hours
B.20 hours
C.25 hours
D.30 hours
Explanation: Kansas requires 20 hours of NMLS-approved pre-license education for mortgage loan originators. This includes the federally mandated 20 hours covering federal law and regulations, ethics, nontraditional mortgage lending, and an elective component. Kansas does not require additional state-specific pre-license hours.
3Under the Kansas Mortgage Business Act, what is the minimum surety bond required for a mortgage company?
A.$25,000
B.$50,000
C.$75,000
D.$100,000
Explanation: The Kansas Mortgage Business Act requires mortgage companies to maintain a minimum surety bond of $50,000. The bond amount may be higher depending on loan volume, but $50,000 is the base requirement to protect consumers in case the company fails to meet its obligations.
4What is the annual continuing education requirement for Kansas-licensed MLOs?
A.6 hours
B.8 hours
C.10 hours
D.12 hours
Explanation: Kansas requires licensed MLOs to complete 8 hours of NMLS-approved continuing education annually. This includes 3 hours of federal law, 2 hours of ethics (including fraud, consumer protection, and fair lending), 2 hours of nontraditional mortgage products, and 1 elective hour.
5When do Kansas MLO licenses expire?
A.March 31 each year
B.June 30 each year
C.September 30 each year
D.December 31 each year
Explanation: Kansas MLO licenses expire on December 31 of each year, consistent with the NMLS renewal cycle. Licensees must complete all renewal requirements, including continuing education, through the NMLS system before expiration to maintain active licensure.
6Which Kansas statute primarily governs mortgage lending activities?
A.Kansas Consumer Credit Code
B.Kansas Mortgage Business Act
C.Kansas Real Estate License Act
D.Kansas Banking Code
Explanation: The Kansas Mortgage Business Act (K.S.A. 9-2201 et seq.) is the primary statute governing mortgage lending activities in Kansas. It establishes licensing requirements, prohibited practices, and regulatory authority for the Office of the State Bank Commissioner over mortgage companies and loan originators.
7What type of foreclosure does Kansas primarily use?
A.Non-judicial foreclosure
B.Strict foreclosure
C.Judicial foreclosure
D.Power of sale
Explanation: Kansas is a judicial foreclosure state. Lenders must file a lawsuit in the district court to foreclose on a property. The borrower is served with the complaint and has the opportunity to respond before the court can order a sheriff's sale of the property.
8What is the statutory redemption period after a foreclosure sale in Kansas?
A.No redemption period
B.3 months
C.6 months
D.12 months
Explanation: Kansas provides a 12-month statutory redemption period after a foreclosure sale for most residential properties. During this time, the former owner can redeem the property by paying the sale price plus interest and costs. The period may be reduced to 3 months if the property has been abandoned.
9Under Kansas law, how much notice must a lender provide before filing a foreclosure action?
A.No pre-suit notice is required
B.20 days
C.30 days
D.60 days
Explanation: Kansas requires lenders to provide at least 30 days written notice to the borrower before filing a foreclosure action. This notice must inform the borrower of the default, the amount owed, and the lender's intention to foreclose if the default is not cured.
10Does Kansas allow deficiency judgments after foreclosure?
A.No, deficiency judgments are prohibited
B.Yes, but only within 2 years of the foreclosure sale
C.Yes, the lender may pursue a deficiency judgment for the remaining balance
D.Only for commercial properties
Explanation: Kansas allows lenders to pursue deficiency judgments after a foreclosure sale. If the sale proceeds are insufficient to cover the full mortgage balance, the lender can seek a court judgment for the deficiency amount against the borrower.

About the Kansas MLO Exam

The Kansas MLO exam tests knowledge of state-specific mortgage lending laws under the Kansas Mortgage Business Act, licensing requirements enforced by the Office of the State Bank Commissioner, consumer protections, and judicial foreclosure procedures. Kansas is notable for its 12-month statutory redemption period after foreclosure sale.

Exam sponsor: Kansas Office of the State Bank Commissioner. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Questions

55 questions

Time Limit

1 hour 30 minutes

Passing Score

75%

Exam / Certification Fees

$110

Exam sponsor website

Reported exam pass rate: 66%. This describes exam candidates, not OpenExamPrep users or results from using our resources. Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

~20%

State Licensing Requirements

OSBC licensing, 20-hour pre-license education, 8-hour CE, $50,000 surety bond, $50,000 net worth, and background checks.

~25%

State Mortgage Law

Kansas Mortgage Business Act, trust accounts, escrow requirements, prepayment penalties, and rate regulations.

~15%

State Regulatory Authority

OSBC enforcement, examinations, cease and desist authority, civil penalties up to $25,000, and disciplinary process.

~20%

Consumer Protection

Fair lending, predatory lending prohibitions, disclosure requirements, borrower rights, and advertising rules.

~20%

Foreclosure Procedures

Judicial foreclosure, sheriff's sales, 12-month redemption period, deficiency judgments, and homestead protection.

Preparing for the Kansas MLO Exam

What You Need to Know

  • Passing score: 75%
  • Exam length: 55 questions
  • Time limit: 1 hour 30 minutes
  • Exam / certification fees: $110 Official sources

Using Our Practice Resources

  • Work through all 200 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

Kansas MLO: Suggested Study Strategy

1Master the Kansas Mortgage Business Act as the primary statute governing mortgage lending in the state.
2Pay special attention to the 12-month redemption period and the 3-month reduced period for abandoned properties.
3Know the OSBC's enforcement powers including $25,000 per-violation civil penalties and cease and desist authority.
4Understand Kansas homestead protections and how they interact with voluntary mortgage liens.
5Study the $50,000 surety bond and $50,000 net worth requirements for mortgage companies.

Frequently Asked Questions

What is the redemption period in Kansas?

Kansas provides a 12-month statutory redemption period after a foreclosure sale, one of the longest in the nation. The former owner retains possession and can redeem by paying the sale price plus interest. The period may be reduced to 3 months for abandoned properties.

What agency regulates MLOs in Kansas?

The Kansas Office of the State Bank Commissioner (OSBC) licenses and regulates mortgage loan originators under the Kansas Mortgage Business Act.

What are the bond and net worth requirements?

Kansas requires a minimum $50,000 surety bond and $50,000 minimum net worth for mortgage companies seeking licensure.

Does Kansas have homestead protection?

Yes, the Kansas Constitution provides homestead protection, but it does not prevent foreclosure on a voluntary mortgage lien. It may affect deficiency judgments and protections from other creditors.