West Virginia Mortgage Law Practice Test

A mortgage originator is required to wait _______ after failing a third attempt on a licensing exam:

1. No more than 90 days

2. At least three months

3. Exactly 100 days

4. At least six months

The correct answer is: No more than 90 days

After failing a third attempt on a licensing exam, a mortgage originator is required to wait no more than 90 days before attempting the exam again. Option B is incorrect because three months could potentially be longer than 90 days and therefore not meet the requirement. Option C is incorrect because it states an exact number of days which may not align with the set wait time. Option D is incorrect because six months is significantly longer than the set wait time of no more than 90 days. Remember, the question is asking for the maximum wait time after failing the third attempt.