NMLS Education and Testing 3

Question 1

What is the minimum passing score on the SAFE MLO Test – National Component with Uniform State Content?

Accepted Answer

75%

Answer

Candidates must achieve a score of at least 75% to pass the SAFE MLO Test.

Question 2

After passing the SAFE MLO Test, how long is the test result valid if the applicant has not obtained a license?

Accepted Answer

3 years

Answer

A passing test score is valid for five years; if an applicant does not obtain licensure within that period, they must retest.

Question 3

How many hours of continuing education (CE) must a licensed MLO complete annually?

Accepted Answer

8 hours

Answer

Licensed MLOs must complete at least 8 hours of NMLS-approved continuing education each year.

Question 4

Of the 8 annual CE hours required, how many must address federal law and regulations?

Accepted Answer

1 hour

Answer

One of the 8 annual CE hours must specifically cover federal law and regulations.

Question 5

An MLO who fails to complete the required continuing education in a given year faces which consequence?

Accepted Answer

License renewal denial until CE is complete

Answer

States will not renew an MLO's license until all required continuing education has been completed.

(NMLS) National Mortgage Licensing System Practice Test