COLORADO Content Outline
(50 scored test questions; 10 unscored test questions)
**PLEASE READ CAREFULLY**
Legislative Updates
Federal and state legislative changes may occur throughout the test administration cycle. Candidates should answer test questions based on the statutes, regulations and rules in effect as of February 20, 2014 .
Candidates are responsible for keeping abreast of changes made to the applicable federal and state statutes, regulations and rules regardless of whether they appear on this outline or the test.
I. Colorado Department of Regulatory Agencies (5%)
A. Division of Real Estate
B. Department/agency structure
1. Board of Mortgage Loan Originators (Title I)
C. Responsibilities and limitations
II. Colorado Law and Regulation Definitions (10%)
A. The Mortgage Loan Originator Licensing Act (Title 12, Article 61, Part 9)
B. Other Colorado Law and Regulation Definitions
III. Colorado License Law and Regulation (25%)
A. Persons required to be licensed
1.
In state
2.
Out of state (non resident)
3.
Exemptions
B. Licensee qualifications and application process
1.
Financial responsibility (surety bond and errors & omissions)
2.
Background check and fingerprints (criminal check)
3.
Pre-licensing education and experience
4.
Testing and retesting
C. Grounds for denying a license (Title 12, Article 61, Part 905)
1. Criminal convictions
2. Previous revocation a. Licenses other than MLO
3. Prohibition
D. License maintenance
1.
Continuing education
2.
Personal information updates and required notifications a. Maintain personal information updates online
3.
Renewal

4.
Record keeping and reporting
5.
Suspension and reinstatement
IV. Compliance (50%)
A. Prohibited conduct and practices
B. Required conduct
C. Fees and charges
D.
Disclosures and agreements
E.
Advertising
V. Disciplinary Action (10%)
A. Notifications, hearings, and appeals
1. Unlicensed activities – cease & desist orders
B. Suspension, revocation, and rescission of licenses
C.
Penalties/fines/restitution
D.
Civil and criminal liability

Colorado State Test Component Reference List
A number of references and resources are used to develop the SAFE Mortgage Loan
Originator Test. The following list is intended to be used as a guide to help candidates prepare for the test component; however, it is not intended to be an all-inclusive list.

CRS 12-61-902

CRS 12-61-903

CRS 12-61-903.5

CRS 12-61-904

CRS 12-61-904.5

CRS 12-61-905

CRS 12-61-905.5

CRS 12-61-905.6

CRS 12-61-905.7

CRS 12-61-907

CRS 12-61-909

CRS 12-61-910

CRS 12-61-910.2

CRS 12-61-910.3

CRS 12-61-911

CRS 12-61-912

CRS 12-61-913

CRS 12-61-914

CRS 12-61-915

CRS 12-61-918

CRS 24-34-101(1)(a)

CRS 24-4-101

PS 1.7

Rule 1.30

Rules 2.1, 2.19, 2.23-2.26

Rule 3.1

Rule 4.1, 4.3, 4.4

Rules 5.1, 5.2, 5.6-5.22

UCCC