West Virginia Mortgage Law Practice Test

The penalty for violations of the Residential Mortgage Lender, Broker, and Servicer Act in West Virginia can result in a fine of up to $1,000 per violation related to unlicensed activity. While the other options may seem like significant fines, they are higher penalties for other violations of the Act, such as engaging in false or deceptive practices. Option A is the specific penalty for unlicensed activity, which is why it is the most accurate answer.