United States
Hong KongThe NMLS exam explained
The SAFE MLO test is the federal exam every state-licensed mortgage loan originator must pass. It runs 120 multiple-choice questions in 190 minutes, of which 115 count, and the pass mark is 75% of those scored questions.
The SAFE MLO test is the exam standing between you and a state mortgage loan originator license. It is federal, it is the same paper in every state, and it is required by law rather than by an employer.
Its full name is the SAFE Mortgage Loan Originator Test - National Component with Uniform State Content. Almost nobody says that. Most people call it the NMLS exam, after the system that administers it.
What you actually sit
- Questions
- 120 multiple choice, 115 of them scored
- Time
- 190 minutes
- Pass mark
- 75% of the scored questions, which is 87 of 115
- Fee
- USD 110 per attempt
- Where
- A Prometric test center, or at home with online proctoring
One session. No break scheduled into it.
The 190 minutes are for the test itself. Your appointment is 225 minutes, and the difference covers the tutorial at the start and an optional survey at the end. Neither is scored and neither eats your working time.
The five questions you cannot see
Of the 120 questions on the form, 115 are scored. The other five are pretest items NMLS is trialling for future versions of the exam, and they do not count towards your result.
You cannot tell which five they are. They are scattered at random and they look exactly like everything else.
The pass mark is 75% of 115, which is 87 correct. But since you cannot identify the five that do not count, the number to work to is 90 of 120. Ninety is not the pass mark. It is the target that guarantees you clear the real one.
What it covers
Five content areas, and NMLS publishes the weight of each one.
| Content area | Weight | Questions on our estimate |
|---|---|---|
| Federal Mortgage Related Laws | 24% | 29 |
| Uniform State Content | 11% | 13 |
| General Mortgage Knowledge | 20% | 24 |
| Mortgage Loan Origination Activities | 27% | 32 |
| Ethics | 18% | 22 |
The weights are NMLS's. The question counts are ours, worked from those weights against the 120 questions on the form. NMLS does not publish counts.
Who has to pass it
Anyone seeking a state mortgage loan originator license. That is the dividing line worth understanding early, because it is not everyone who originates mortgages.
- State-licensed originators - working for a broker, a non-bank lender or an independent shop - must pass this test
- Federally registered originators - working for a bank, credit union or other depository institution - do not sit any test at all
- Move from a bank to a broker and you go from registered to licensed, and the test becomes your problem
What it is not
It is not your whole license. Passing the test is one requirement among several: 20 hours of NMLS-approved pre-licensure education, a criminal background check, a credit report and a state application all sit alongside it.
It is also not state-specific any more. The Uniform State Content was folded into this single national test, so one pass covers the state component everywhere that adopted it.
Common questions
What is the NMLS exam?
The SAFE Mortgage Loan Originator Test, the federal exam required of every state-licensed mortgage loan originator. It runs 120 questions in 190 minutes and the pass mark is 75% of the 115 scored questions.
How many questions are on the NMLS exam?
120 are administered and 115 are scored. The other five are unscored pretest items scattered at random, and you cannot tell which they are.
What score do you need to pass the NMLS exam?
75% of the scored questions, which works out at 87 of 115. Because five of the 120 do not count and you cannot identify them, aim for 90 of 120.
Do bank loan officers need to pass the NMLS exam?
No. Originators at depository institutions are federally registered and sit no test. Only state-licensed originators take the SAFE MLO test.
How much does the NMLS exam cost?
USD 110 per attempt, payable to NMLS every time you enroll, including retakes.