The license of a person who commits mortgage fraud is automatically revoked.

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Prepare for the Utah Mortgage PLM Exam. Study with flashcards and multiple choice questions, with each question providing hints and explanations. Gear up for test day!

Multiple Choice

The license of a person who commits mortgage fraud is automatically revoked.

Explanation:
Committing mortgage fraud undermines trust in the licensee and is treated as a grounds for removing the license from practice. In this context, the consequence is automatic revocation because the regulator views fraud as so serious that the license cannot continue. This goes beyond a temporary suspension, retraining, or keeping the license with penalties, since those options imply the ability to return to work under conditions or while still holding the license. Automatic revocation signals an immediate and permanent removal from the credential, barring reinstatement through a separate, formal process.

Committing mortgage fraud undermines trust in the licensee and is treated as a grounds for removing the license from practice. In this context, the consequence is automatic revocation because the regulator views fraud as so serious that the license cannot continue. This goes beyond a temporary suspension, retraining, or keeping the license with penalties, since those options imply the ability to return to work under conditions or while still holding the license. Automatic revocation signals an immediate and permanent removal from the credential, barring reinstatement through a separate, formal process.

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