West Virginia Mortgage Law Practice Test 2025 - Free Mortgage Law Practice Questions and Study Guide

Question: 1 / 400

In addition to other penalties that may be imposed for violations of West Virginia mortgage law, the Commissioner may impose a fine of up to how much per violation of the Residential Mortgage Lender, Broker, and Servicer Act related to unlicensed activity?

$1,000

The penalty for violations of the Residential Mortgage Lender, Broker, and Servicer Act in West Virginia can result in a fine of up to $1,000 per violation related to unlicensed activity. While the other options may seem like significant fines, they are higher penalties for other violations of the Act, such as engaging in false or deceptive practices. Option A is the specific penalty for unlicensed activity, which is why it is the most accurate answer.

Get further explanation with Examzify DeepDiveBeta

$3,500

$5,000

$7,500

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy