Short answers

The questions candidates ask before they book.

What is the NMLS exam pass mark?75%. It is published, it is in the federal regulation, and it is a raw percentage rather than a scaled score. It applies to the 115 scored questions, …
How many questions are on the NMLS exam?120 questions are administered and 115 of them are scored. The remaining five are unscored pretest items scattered at random, and because you cannot i…
How long is the NMLS exam?190 minutes of testing time for 120 questions, about 95 seconds each. The appointment is 225 minutes, and the extra 35 cover a tutorial before you sta…
How much does the NMLS exam cost?USD 110 per attempt, paid to NMLS. Retakes cost the same again. The full cost of getting licensed usually lands between USD 400 and USD 800 once the 2…
Is the NMLS exam open book?No. It is closed book. Nothing goes into the testing room, everything is stored in a locker, and the only tool provided is an on-screen calculator.
Can you use a calculator on the NMLS exam?Yes, an on-screen calculator is provided. You may not bring your own, so practice with a basic four-function calculator rather than a financial one.
How many times can you take the NMLS exam?There is no limit on total attempts. You must wait 30 days after a failed attempt, and 180 days after three consecutive fails. Each attempt costs USD …
How long do NMLS exam results take?Immediately. Pass or fail appears on screen the moment you finish and you leave with a printed report. The official score posts to NMLS about 72 hours…
Does the NMLS exam expire?A passed test expires after five consecutive years without a license or an active federal registration. While you hold either, it does not expire and …
Do you need the 20-hour course before the exam?Not to sit the test. The 20 hours of NMLS-approved education is a licensing requirement rather than a testing prerequisite. Almost everyone takes it f…
Can you take the NMLS exam at home?Yes. Online proctored delivery offers the same 120-question exam under the same rules, supervised through your webcam. You provide the computer, the c…
What score do you need to pass?75 percent of the 115 scored questions, which is 87 correct answers. Because five of the 120 administered questions are unscored and unidentifiable, t…
Is there math on the NMLS exam?Yes. Ratios, loan-to-value, discount points, ARM adjustments and per-diem interest appear throughout the paper. It is arithmetic, and an on-screen cal…
What happens if you fail three times?After three consecutive failed attempts you must wait 180 days from the last one before sitting again. There is no cap on total attempts, but six mont…
How long should you study?Forty to seventy hours for most candidates with no mortgage background, spread over four to eight weeks. Spacing matters as much as the total, because…
How hard is it really?Moderately hard. 53 percent pass first time. No single concept is difficult, but the syllabus is broad, the timeframes are near-identical, and the 20-…