Which statement best describes the PLM's responsibility for training and continuing education of staff?

• A. Limit training to initial onboarding and do not track completion.
• B. Ensure ongoing training on laws, compliance, and product knowledge; track completion.
• C. Training is managed entirely by the marketing department.
• D. Training is optional for all staff.

Answer: (B)

Ongoing training and continuing education is essential for staying compliant and capable. The PLM must oversee a comprehensive training program that covers laws, compliance, and product knowledge, and crucially, track completion to prove staff stay current. Regulations and loan products evolve, so updates to disclosures, licensing requirements, consumer protections, and underwriting guidelines require regular training. Keeping records of who completed which courses helps with audits, risk management, and performance expectations. The other approaches fall short: limiting training to onboarding misses ongoing regulatory changes and skill gaps; placing training under marketing ignores the regulatory and product-specific expertise needed; and making training optional fails to meet compliance and competency requirements.