Which of the following is true if a licensee receives a cease and desist order?

Prepare for the Utah PLM Test with flashcards, multiple choice questions, and detailed explanations. Maximize your chances of passing with a thorough review of lending and mortgage concepts.

If a licensee receives a cease and desist order, they are required to immediately halt all activities as stated in answer A. This type of order is a legal directive indicating that certain actions violate statutes or regulations, and compliance is mandatory to avoid potential legal consequences. Ignoring the order or continuing operations can lead to further penalties, including fines or revocation of the license.

In situations involving cease and desist orders, the intent is to protect consumers and uphold regulatory standards. It is crucial for licensees to recognize the authority behind such orders and the importance of adhering to them promptly.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy