Mortgage Loan Originator (MLO) Licensing Practice Test

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Prepare for the Mortgage Loan Originator Licensing Test. Utilize diverse question formats, including flashcards and multiple choice, with detailed explanations. Gear up for your MLO exam with comprehensive study material!

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What is the maximum number of pay periods for a bi-weekly salary structure?

  1. 52

  2. 24

  3. 26

  4. 12

The correct answer is: 26

In a bi-weekly salary structure, employees are typically paid once every two weeks. This means there are 52 weeks in a year divided by 2, resulting in 26 pay periods. Thus, the maximum number of pay periods for a bi-weekly salary structure is 26. Each pay period corresponds to a paycheck, so employees receive their salaries 26 times throughout the year when following the bi-weekly schedule. The other options do not align with the bi-weekly payment frequency. For example, 52 represents weekly pay periods, 24 is commonly associated with semimonthly pay schedules (twice a month), and 12 correlates with monthly pay periods. Therefore, 26 is the correct answer for the maximum number of pay periods in a bi-weekly salary structure.