United States
Hong KongThe format of the NMLS exam
One computer-based session of 120 multiple-choice questions in 190 minutes, four options each, one correct answer, no penalty for a wrong guess. Your appointment runs 225 minutes to cover the tutorial and an optional survey.
Straightforward, as these things go. One session, one question type, no essays and no simulations.
The shape of it
- Questions
- 120, of which 115 are scored
- Time
- 190 minutes
- Appointment
- 225 minutes
- Options per question
- Four, one correct
- Delivery
- Computer-based, at a center or online proctored
That works out at about 95 seconds a question. Comfortable for a recall question, tight for a calculation, which is why the calculations are where time management actually matters.
What the extra 35 minutes are for
Your appointment is 225 minutes but the clock on the exam is 190. The difference covers a tutorial before you start and an optional candidate survey afterwards.
Neither is scored. Neither takes time off your 190 minutes. Do the tutorial anyway - it is where you learn how the review screen works, and finding that out at question 90 is a waste.
No penalty for guessing
A wrong answer scores the same as a blank one, which is zero. So there is never a reason to leave a question unanswered.
Flag it, move on, come back. If you run out of time with items still open, put something in every one of them before the clock stops.
Of the 120 questions, 115 are scored and five are unscored pretest items being trialled for future forms. They are scattered at random and look identical to the rest, so answer everything as though it counts.
Closed book
Nothing goes in with you. No notes, no reference material, no phone. An on-screen calculator is provided, and the center supplies whatever scratch material its own rules allow.
That is worth contrasting with contractor licensing exams, where the reference books come into the room with you. Here everything is from memory.
Results
Pass or fail on screen the moment you finish, and a printed report before you leave the center. The official score posts to NMLS about 72 hours later.
Common questions
How long is the NMLS exam?
190 minutes of testing time. The appointment is 225 minutes, covering the tutorial and an optional survey.
How many answer options does each question have?
Four, with one correct answer.
Is there a penalty for guessing on the NMLS exam?
No. A wrong answer and a blank both score zero, so answer every question.
Is the NMLS exam open book?
No. It is closed book. An on-screen calculator is provided.
When do you get your NMLS exam result?
On screen immediately, with a printed report before you leave. The official score posts to NMLS about 72 hours later.