CMPS Practice Test

The Certified Mortgage Planning Specialist (CMPS) designation is for mortgage professionals who want to advise clients on mortgage planning, and you earn it through the HomeQB course. This page has free practice sets grouped by topic, worked explanations of sample questions and a study plan. It also sets out the verified facts on eligibility, renewal and validity, and tells you which official HomeQB documents to check.

CMPS Exam at a Glance

What the CMPS is and how it works

According to HomeQB (formerly Momentifi / CMPS Institute), operated by American Business Media, LLC, “Understand and agree to the CMPS® Code of Ethics.”^[2]

HomeQB runs the CMPS designation. It was formerly known as Momentifi and the CMPS Institute, and it is operated by American Business Media, LLC. You earn the CMPS by taking a course: you work through the training modules and pass the module exams. There is no stand-alone licensing test.

The official CMPS course syllabus lists these requirements:

• a paid HomeQB membership
• passing all module exams
• understanding and agreeing to the CMPS Code of Ethics
• completing the end-of-course survey

The credential depends on your membership. HomeQB's terms of use say that membership renews automatically on the monthly or annual anniversary of your purchase date, at the current renewal rate. You may use the CMPS designation only while you remain an active member who keeps up with the renewal requirement and the continuing education policies. If your membership lapses, you lose the right to use the designation.

We have not verified the passing score, the number of questions per module, time limits, retake rules or current prices, so this page does not list them. These details can change. Before you enroll, check the official CMPS course syllabus and the HomeQB terms of use at homeqb.com, or ask HomeQB directly.

Worked examples: how to reason through CMPS questions

These are practice questions written for this site, not questions from the real exam. Each explanation shows why the right answer is right and why the others are wrong.

Example 1

Question: Which home equity product disburses a lump sum at closing and is repaid in equal monthly installments at a fixed interest rate?

1. Home equity line of credit (HELOC)
2. Home equity loan (second mortgage)
3. Cash-out refinance at a variable rate
4. Reverse mortgage

Answer: B. Home equity loan (second mortgage)

Explanation:

B is correct. A home equity loan, often called a closed-end second mortgage, pays out a lump sum at closing. It usually has a fixed rate and level payments over a set term, which matches every detail in the question.

• A is wrong because a HELOC is a revolving line. The borrower draws money as needed, the rate is usually variable, and payments change with the balance.
• C is wrong because a cash-out refinance replaces the existing first mortgage instead of adding a separate loan. This option also has a variable rate, which contradicts the question.
• D is wrong because a reverse mortgage does not require monthly repayment from the borrower.

Rule: a lump sum with a fixed rate and level payments means a home equity loan. Drawing as needed means a HELOC.

Example 2

Question: What is 'steering' in mortgage lending, and why is it considered unethical?

1. Guiding clients toward the best-fit product for their situation
2. Directing clients to higher-cost loans to increase broker compensation
3. Recommending fixed-rate over adjustable-rate mortgages
4. Advising clients to improve credit before applying

Answer: B. Directing clients to higher-cost loans to increase broker compensation

Explanation:

B is correct. Steering means pushing a client toward a loan because it pays the originator more, not because it fits the client. Federal loan originator compensation rules issued under the Dodd-Frank Act ban steering a consumer into a loan to raise the originator's pay unless that loan is in the consumer's interest.

• A describes good practice, which is the opposite of steering.
• C is a normal recommendation. A fixed rate can be sound advice when it suits the client's goals and risk tolerance.
• D is ordinary pre-application counseling that usually helps the client.

Rule: ask whose interest drives the recommendation. If the originator's pay drives the choice of product, it is steering. If the client's needs drive it, it is advice.

Example 3

Question: Which type of NNN lease structure makes the tenant responsible for property taxes, insurance, AND maintenance expenses?

1. Triple net (NNN) lease
2. Gross lease
3. Modified gross lease
4. Double net (NN) lease

Answer: A. Triple net (NNN) lease

Explanation:

A is correct. In a triple net (NNN) lease, the tenant pays property taxes, insurance and maintenance on top of base rent.

• B is wrong because a gross lease works the other way. The tenant pays a flat rent and the landlord covers the operating costs.
• C is wrong because a modified gross lease splits costs between landlord and tenant by negotiation, so the tenant does not carry all of them.
• D is wrong because a double net (NN) lease usually passes taxes and insurance to the tenant but leaves maintenance with the landlord.

Rule: count the 'nets'. Each N moves another cost category to the tenant. Only the triple net lease moves taxes, insurance and maintenance. For an investor, this gives steadier net income because the tenant carries the expense risk.

How to use these practice tests

Start with the official material. Enroll through HomeQB, read the course syllabus and work through each module before you test yourself here. Our sets check what you have learned. They do not replace the course.

1. Take a baseline. Do the general practice test without notes and list the topics where you hesitated.
2. Work by topic. Match each module with a practice set, for example Home Equity and HELOC Strategies, Mortgage and Tax Strategies and Investor Return on Investment.
3. Read every explanation. For each question you miss, write the rule in your own words, as in the worked examples above.
4. Practise the judgment questions. Ethics and counseling questions test your reasoning. Use Ethics and Client Counseling and Ethical Practices and Risk Management, then reread the CMPS Code of Ethics.
5. Retest before each module exam. Redo the sets for that module. Move on when you rarely miss a question and can explain why each answer is right.

Sources & last verified

1. HomeQB (formerly Momentifi / CMPS Institute), operated by American Business Media, LLC — validity, renewal (official source). “This non-exclusive right applies only as long as you remain an active member with HomeQB by adhering to the HomeQB membership renewal requirement and continuing…” Verified Oct 22, 2026 · source checked Oct 22, 2026.
2. momentifi.com — eligibility (official source). “Understand and agree to the CMPS® Code of Ethics.” Verified Oct 22, 2026.

How we verify: editorial & fact-checking policy. Report an error: contact us.