Exam Prep Course Designed to Pass the SAFE MLO Exam

The SAFE Mortgage Licensing Act requires all licensed Mortgage Loan Originators to pass a test developed by NMLS. Each Loan Originator must take and pass the SAFE MLO Test to satisfy the SAFE testing requirements for state licensing. Every state requires proof of passing the SAFE Exam as part of the initial licensing process within the NMLS.  It’s important to have the best training available, so we include our Exam Prep Course for free to improve everyone’s test scores. 

You will get:

  • Introductory Video on Study Habits for your Mortgage Test
  • 1,000-Practice Questions for the SAFE MLO License Exam
  • 30-page Study Guide Specific to Passing the SAFE MLO Test
  • 600-page Course E-book Covering Regulations and Ethics

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Here's what is on the SAFE MLO Exam and How to Study

When you take the SAFE MLO National Test with Uniform State Test Content, there are 125 multiple-choice questions. Five of the 125 questions are not scored and pilot tested for future use in the “scored” question bank.  You will need to achieve a 75% passing grade which is 87 correct or more out of 115 “scored” questions. The SAFE MLO test can be taken in person or virtually.  Five major content areas make up 100% of the MLO exam as follows:

I. Federal Mortgage-Related Laws 24%

II. Uniform State Content 11%

III. General Mortgage Knowledge 20%

IV. Mortgage Loan Origination Activities 27%

V. Ethics 18%

How Many Times Can I Retake the SAFE MLO Exam?

Those who fail the first attempt at the SAFE MLO exam will be able to retake the exam 30 days later for two more attempts initially.  If the test is failed three times, the candidate must wait 180 days before the next attempt.  This MLO test-taking cycle may continue until the candidate achieves a passing score of 75% or greater.

BEST SAFE MLO EXAM Study Guide Online
24hourEDU includes a 30 page study guide for the SAFE MLO Exam

What is the best way to study for and pass the SAFE MLO exam on the first try?

In order to pass the test on your first try, you need to know the mortgage loan originator test content well enough to score a 75%.  The 24hourEDU course has all of the knowledge you need to pass covered in the course lessons, definitions, and within our included 600-page online course E-text book.  To help students get an extra edge on test day, we have also developed a quick hitter 30-page study guide to get your score a few percentage points higher.  Every student also gets access to 1,000 exam prep practice questions. This recommended study guide should be reviewed before you take the SAFE MLO Exam.

Frequently asked Mortgage Loan Originator Exam Prep Questions

The MLO Exam Prep Course will become available after you complete our 20 Hour SAFE Comprehensive: Online (OIL) – Mortgage Loan Originator Course.  The 20 Hour course is a prerequisite of the Exam Prep Course in our learning management system. If you need help, call (888) 405-4453 or Email support@24houredu.com for immediate assistance.

When students first log into the exam prep course, they will be provided with an introductory video lesson. After watching the video, students gain access to take 5 simulated practice tests containing the same types of questions and subject matter from the NMLS SAFE MLO Exam. With over 1,000 questions to go through in the Exam Prep Course and by taking all of the questions built into our 20 Hour SAFE Comprehensive: Online (OIL) – Mortgage Loan Originator Course, students have access to over 1,000 questions to prepare for the NMLS License exam.

To request and schedule your MLO exam, first log into your NMLS account and navigate to the “Testing” section. From there, select “MLO Test Enrollment” and pay the test enrollment fee, which is typically around $110. After choosing your preferred test location and date, wait for your enrollment to be approved. Once approved, you’ll need to visit Prometric’s website to finalize your scheduling by selecting a specific test center location and available time slot for your exam. You must first complete your training hours and then you can register here:  NMLS RESOURCE CENTER MLO TESTING

Your next crucial steps involve completing several administrative requirements. First, you’ll need to submit your fingerprints through an NMLS-approved vendor, complete a criminal background check, and submit a credit report through NMLS. Additionally, make sure your MU4 form is complete and accurate, with up-to-date information, correct employment history, and all disclosure questions answered.

Next, focus on obtaining licenses in the states where you plan to work. Each state has its own requirements, fees, and possibly additional education requirements. You may also need to secure a bond, depending on your state’s regulations. During this time, if you haven’t already, you’ll need to secure employment or sponsorship. Many states require sponsorship from a company before they’ll approve your license, so your employer will need to submit this sponsorship through NMLS.

The most common reason for failing the MLO exam is insufficient preparation for the federal mortgage lending regulations, particularly the TILA-RESPA Integrated Disclosure (TRID) rules and Regulation Z (Truth in Lending Act). Many test-takers underestimate the depth of knowledge required about these complex federal regulations, which make up a significant portion of the exam.  Luckily for our students, we cover this material in great detail within the training program and exam prep course.

 

NOTE: Effective 10/1/24 online proctored testing (OPT) is only available to candidates who qualify for Testing Accommodations.

Candidates seeking testing accommodations for the MLO exam should contact the NMLS Accommodations team at 1-877-416-6657, selecting Option 2. This dedicated team will process requests for testing accommodations for Mortgage Loan Originator (MLO) examinations. After the accommodation request has been reviewed and approved, candidates will receive comprehensive instructions for scheduling their exam appointment. Accommodations are designed to ensure all qualified MLO candidates have an equitable opportunity to demonstrate their knowledge and skills.  NMLS RESOURCE CENTER MLO TESTING

SAFE MLO Exam Prep: How to Schedule Your Test Appointment in the NMLS

Proper SAFE MLO exam prep involves not just studying for the test, but also understanding how to schedule your exam appointment correctly. This guide will walk you through the essential steps of scheduling your MLO test at a Prometric Testing Center, ensuring you’re fully prepared for this critical part of your licensing journey.

SAFE Exam Prep: Registration Requirements

Before you can schedule your testing appointment as part of your SAFE exam prep process, you must first register with the National Mortgage Licensing System and Registry (NMLS). Your SAFE MLO exam prep timeline should account for this registration step, as you’ll need your NMLS ID number to proceed with scheduling.

Visit the official NMLS registration portal at https://www.statemortgageregistry.com/Public/Login.aspx to complete this initial requirement.

SAFE Exam Prep: Accommodations for Special Needs

As you plan your SAFE exam prep strategy, note that if you require testing accommodations:

  • You can schedule your SAFE MLO test proctored at home via the internet if you have special needs and will be approved on a case-by-case basis
  • You must request approval for accommodations as outlined in Section 5.1 of the MLO Testing Handbook
  • Factor this additional approval time into your MLO exam prep schedule

Essential Documentation for Test Day

Your SAFE MLO exam prep should include preparing the proper identification for test day:

  • Bring one (1) form of official ID bearing your name, signature, and a recent photo
  • Acceptable primary forms of identification include:
    • Passport
    • Valid driver’s license
    • Military ID card
  • Your name on this ID must match exactly the name under which you scheduled the test

Important MLO Exam Prep Tip: All personal items must be locked in a locker for test security purposes, so limit what you bring to the Testing Center.

SAFE MLO Exam Prep: Timing Your Arrival

Effective SAFE exam prep includes planning for test day logistics:

  • Arrive 30 minutes before your scheduled appointment
  • Allow adequate time for check-in procedures
  • Be prepared to be photographed at the testing center (required by NMLS)
  • If you arrive late, you may not be allowed to test

Electronic Devices Policy

Critical to your MLO exam prep knowledge: The NMLS Rules of Conduct strictly prohibit:

  • Cellular phones
  • Pagers
  • Hand-held computers
  • Any communications devices (electronic or otherwise)

These items cannot be taken into the testing room or used during the testing session and/or restroom breaks. Violations will be reported to NMLS and may be reported to the state(s) in which you are seeking licensure, potentially resulting in disciplinary action including denial or revocation of your license(s).

Good news for test-takers:  When taking the SAFE MLO License Exam, you will have access to a basic on screen calculator and notepad.

SAFE MLO Exam Prep: Financial Considerations

As part of your MLO exam prep financial planning, note that no payment is due at the Prometric Testing Center, as fees are paid during the NMLS registration process.

Rescheduling or Cancelling Your Appointment

Your SAFE MLO exam prep schedule may need to change unexpectedly. If you need to reschedule:

  • You must do so by 11:59 pm Eastern Time, 2 calendar days prior to your appointment
  • Use the Reschedule/Cancel option on the Prometric website
  • Or contact Prometric’s automated voice response system at: 1-877-671-6657

For complete details on the cancellation policy, review Section 4.1 of the MLO Testing Handbook as part of your SAFE MLO exam prep research.

MLO Exam Prep: Online Scheduling Process

To schedule online as part of your MLO exam prep journey:

  • Log into your NMLS account online to schedule
  • Prometric will send a confirmation email for your records
  • If you don’t have an email address, call the Prometric Contact Center at 877-671-6657

Final SAFE MLO Exam Prep Checklist

As your test date approaches, ensure your SAFE MLO exam prep is complete by:

  • Confirming your appointment details
  • Planning your route to the testing center
  • Reviewing test-taking strategies
  • Getting plenty of rest the night before
  • Bringing only the essential identification documents
  • Arriving early with a confident mindset

Thorough mortgage exam prep includes understanding all aspects of the testing process, from registration through completion. By following these guidelines for scheduling your appointment, you’ll eliminate unnecessary stress and be able to focus on demonstrating your knowledge and passing your mortgage license exam.

Educational hours are required prior to submitting an application for your license.  Visit our MLO State Licensing page for more information about education requirements.

Sample Mortgage Loan Originator Exam Prep Questions

Correct Answer is C). VOE – Written Verification of Employment
A form completed by a borrower’s current or previous employer that includes information about the borrower’s employment history, compensation, and more. Lenders may request a written VOE if the information provided by W2s isn’t enough.

Correct Answer is D). A complete application means an application in connection with which a creditor has received all the information that the creditor regularly obtains and considers in evaluating applications for the amount and type of credit requested.  These six pieces of information make up a complete application.

Correct Answer is A). capacity.  Capacity is a measure of a borrower’s ability to repay a mortgage. Lenders consider capacity when evaluating a mortgage application, along with other factors such as capital, credit, and collateral.

Correct Answer is C). Loan Estimate
The LE provides borrowers with important information, including the estimated interest rate, monthly payment, and total closing costs for their loan. The Loan Estimate also displays information about the estimated costs of taxes and insurance, and if the interest rate/payments may change in the future.
Correct Answer is A). Fair and Accurate Credit Transactions Act
The Fair and Accurate Credit Transactions Act (FACTA) is a federal law that protects consumers from identity theft and improves the accuracy of their credit records.

The correct answer is A). “The Nationwide Multistate Licensing System & Registry”

This is a common MLO test question!

Originally established as the “National Mortgage Licensing System” (NMLS), the organization underwent a strategic name change to “The Nationwide Multistate Licensing System & Registry” in 2012. This rebranding reflected the system’s expanding scope beyond mortgage licensing, as it began to provide comprehensive licensing and registration management services for multiple financial service industries across various states. The name change signaled the organization’s evolution from a mortgage-specific platform to a more comprehensive, multi-industry state licensing infrastructure.