What's on the NMLS Exam? Sample Questions to Help Pass the Mortgage Loan Officer Test
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- Опубліковано 22 сер 2024
- We hope you enjoy these sample questions. The first question starts at 3:49.
NMLS sample questions: nmlsportal.csb...
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This was literally the easiest license I have ever been able to get for $1000 and under a month. I would suggest more people take advantage of these many positions available as an MLO. Scored a 100% first time taking it. 🤙🏻
You're a superstar, Bugout!
@@MortgageEducators Thanks! I do come from a financial background so it certainly helped some. I appreciate the video and it helped tremendously in preparation.
What other licenses do you have & which one was the hardest to obtain ?
@@tionneedwards6297 Besides the MLO license, I currently have my Series 3 (agricultural commodity broker), my Series 66 (financial analyst), and my series 7 for securities. Easily my Series 7 was the hardest.
How much did you study? Im on the same boat right now. Test is Thursday, one month from when i started the courses. Been studying a lot and i feel confident but also scared that maybe im too confident 😂
I have been in title and escrow for 3 years so I feel like I have a lot of background knowledge that will help me a lot on this new journey. Thank you for this well organized video!
Glad we could help Riley! Good luck on the exam!
Question #8
Borrowers must be 62 to receive a reverse mortgage.
answer B includes the word "only"
I think under both cases rejecting the loan is not age discrimination, but regulatory compliance. Therefore the answer should be "A"
I’m feeling so much better. I’ve been consistently studying and I’ve heard nothing but positive testimonials about MEC.
I will be looking into MEC once I pass my exam. I’m nervous, after watching this video feeling relieved. Thank you ☺️
Thanks for sharing!! You can do it, Nicole.
This was such a relief. I got it all correct. Ive been stressing and studying hard. I already have my Real Estate Broker license (as of December 2021) but this one just “feels” more difficult.
Nice work! Keep it up.
Congratulations! I am super stressed out about the test. 😬 But, my goal is to study hard the next 30 days!
@@heidibedoya i passed first try with an 88% last Friday. I would HIGHLY recommend PrepXL by OnCourse Learning. The practice tests are more difficult than the actual exam. Go through there lessons (very short and to the point), take the practice exams and you should pass first try once you’re hitting a minimum score of 85%-95%. The highest score i got on the practice exams was an 88% with my lowest being an 82%. Good luck!!
@@Jc50gt Wow that’s a great score! I am happy for you. 🥳🥳 I have the online practice test for MEC and bought the one for Compucram (which I find to be less user friendly)and trying to complement it with this kind of YT videos. I want to pass the test on my first try, that’s my goal anyway. 🤭 How long did you study and how often?
@@heidibedoya compucram is decent to get familiar with some of the content. It's lacking a bit. I used it as well. I also tried MEC and had the same experience. I found the information a bit too "basic". I do not mean to discourage you. I went down a deep hole trying to find the best prep course. I spent over $800 between test rescheduling and buying new courses bc i felt the courses were not thorough enough. Prep XL & Affinity i found to be the best courses. Tons of Reddit threads agreeing as well. At first i studied about 2 hours a day for 30 days then i hit it hard studying about 6-8 hours a day for about 2-3 weeks. My dad has a training for newly licensed MLO's. People come to him who do not have a license and within 30-45 days, they're licensed and begin training....essentially hand holding through the whole process post licensing. He got me into the business. I am Real Estate Broker as well. Feel free to ask me questions through out the process here. I had so many questions i wished i could have asked someone 👍
I’m so happy I found this video! I suck at testing, barely passed for my insurance license and afterwards everything clicked 💡R.I.P. Artricia 🙏🏻💫
Thank you for this information!
Glad it was helpful!
This was very helpful Thanks
Glad to hear!
Very helpful.
Thanks Theresa, glad we could help!
Regarding question #8.. OnCourse learnings has the same question with the same exact answers and their answer to this one is A: Not under any circumstance... since if the applicant is too young it would not be considered discrimination.
Now im confused as to what the right answer is... HELP
Hi Tyler,
Thanks for bringing this to our attention. Please send your question to instructor@mortgageeducators.com. An instructor will help answer your question.
Also, that answer contains the word "only". A borrower must be 62 to receive a reverse mortgage.
Can someone explain why we are getting different numbers for question 3? Why do we have to multiply by 52 then divide by 12. Instead of multiplying 540.80 by 4 and getting the monthly pay?
It's weekly pay so multiply that by 52 (# of weeks/year) to get the annual gross income. Divide that by 12 (# of months/year) and that's your Monthly gross income.
you'd think you could just multiply your weekly pay by 4 to get monthly pay. 4 weeks per month,...easy, right? BUT- check out the math:
4 weeks x 12 months only gives you 48. And we know there's 52 weeks in a year, so what's the issue? Thats because each month has varying # of days in it- 31, 30, and 28. When you average it out, there's actually 4.3333 weeks in a month, not just 4.
Hope this helps. Good luck!
Great
Thank you for the comment Tanya!
My program expired and I don’t know what is the best way to study. I keep thinking is too hard! 😭💔
You got this Heidi! The exam is definitely not an easy one, however you're going to do great! Just keep trying!
Okay good
is this the same questions I should be expecting on the safe mlo test(loan originator?
Nobody has the exact questions that will be on the exam, but these should give you a good idea of the types of questions you will see.
"for the rest of your life"? I HOPE NOT lol
Do you ever get to the part where you help or just keep talking about?
Believe it or not, we eventually get to the good stuff. Thanks for the comment. Eric. We'll keep that in mind for future videos.
@@MortgageEducators thanks for the response
Im so nervous for my test this friday. Tbis is helping. But im still not confident.
Did you pass?
@iv2880 I haven't taken it yet.. I just keep studying
@@MMikemeztai take mine on Monday!🎉
@@iv2880 go get it brother
Does the test has a cost.? And how many times can I take it if I miss the first time .?
Hi Aly, the NMLS Exam has a fee of $110. If you miss it the first time, you'll need to take it again. Luckily, with MEC at your side and a strong willingness to learn, you'll only need to take it once! Thanks for the comment!
If you miss it the first time, I'm going to assume you must pay for the exam again if you want to try a second or third time?
@@randomdeergirl3408Right! One may take the test up to 3 times with 30 days waiting period in between. If one fails the 3rd try, one has to wait for 6 months to be able to take the 4th try. If one does not pass on the 4th try, then one has to retake the 20-hour prelicensing courses.
I’m getting mine next and starting out part time
Easy here let’s see on the real test 😅
Keep up the hard work, Jess! We believe in you.
Number 8: In class, I had same question but they said A ????????
Hi Jacob,
Thanks for bringing this to our attention. Please send your question to instructor@mortgageeducators.com. An instructor will help answer your question.
Hi Angie,
Please send your question to instructor@mortgageeducators.com. An instructor will help answer your question.
Alot of these questions are scenario-based and question 8 is no exception. Answer 'A' is trying to trick you because, in theory, we're not supposed to but if your applicant is too young then can't legally bind contract. Once you get birth date, you can confirm this.
My course material stated A. Did we receive clarification?
@@3brobertson the right answer is B!!!!
Can u please share me ur mail for asking interview doubts
Dude your intro is to long and pointless,
Thank you for the feedback, Paul.
I completely disagree. I think he did an amazing job!
@@BPinkPurple he spent half the time trying to sell his class.
@@carolinahomefinancing Are they supposed to just provide this info to you for free? Entitled much?
I think u are on the wrong path Paul 😢thank you sir for taking your time to give us an advance knowledge 🙌🏾🙏🏽