A person who qualifies as a PLM and works by or on behalf of another PLM in transacting mortgage business is:

• A. An associate lending manager
• B. A branch manager
• C. An independent contractor
• D. An underwriter

Answer: (A)

In PLM practice, when a person who already qualifies as a PLM works by or on behalf of another PLM to transact mortgage business, that role is described as an associate lending manager. This reflects a working relationship where the individual holds a PLM license and operates under or with another PLM to handle mortgage transactions, expanding capacity while staying under supervision.

An independent contractor wouldn’t carry the formal PLM relationship or license to transact mortgage business under another PLM. A branch manager typically implies leadership of a specific office with its own operational scope. An underwriter focuses on evaluating loan risk, not on licensing or conducting mortgage transactions under another PLM.