Ace the West Virginia Mortgage Law 2025 Quiz – Unlock Your Path to Success!

Question: 1 / 400

What is the relocation fee that a licensee must pay when changing its place of business for each location change?

$500

The correct answer indicates that a licensee must pay a relocation fee of $500 when changing their place of business. This reflects the regulatory framework in place for maintaining compliance with state laws regarding mortgage licensing and business operations. The fee serves multiple purposes, including covering administrative costs incurred by the regulatory body in processing the change and ensuring that the licensee's information is updated in official records. Additionally, the fee can act as a deterrent to frequent relocations, ensuring that businesses maintain stability and consistency in their operations. Understanding this fee is essential for proper financial planning and compliance for anyone in the mortgage business in West Virginia.

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$250

$100

$50

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