United States
Hong KongDoes 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 you never retest.
Only if you leave the industry for five years.
The rule is about continuity rather than age. A pass from a decade ago is still good if you have held a license or an active federal registration throughout.
The five-year rule
If you pass the test but do not obtain a license or an active federal registration, and five consecutive years go by, the result expires and you retest.
The same applies if you leave the industry after being licensed. Five consecutive years with neither status and the pass is gone.
- Result validity
- Indefinite while licensed or registered
- Expiry trigger
- Five consecutive years with neither
- On expiry
- Retest, at USD 110
- Continuing education
- 8 hours a year while licensed
What keeps it alive
Either a state license or an active federal registration at a depository institution. Both count, which matters if you move between a bank and a broker.
Move from a broker to a bank and your registration keeps the clock from starting, even though banks require no test.
Passing the test and then not completing the license application. If life gets in the way for five years, the pass expires and the USD 110 goes with it. Finish the application while the exam is fresh.
Continuing education is separate
While licensed you complete 8 hours of continuing education a year: 3 hours federal law, 2 hours ethics, 2 hours non-traditional mortgage lending and 1 hour of electives.
That keeps the license current. It has nothing to do with the test result, which does not need refreshing.
Common questions
Does the NMLS exam expire?
After five consecutive years without a license or an active federal registration. While you hold either, it does not expire.
Do I have to retake it every few years?
No. There is no periodic retest for someone who stays licensed.
What if I leave the industry?
Five consecutive years with neither a license nor an active registration and the result expires, so you would retest.
Does a federal registration count?
Yes. An active registration at a depository institution keeps the result alive even though no test is required there.
What is the continuing education requirement?
8 hours a year while licensed: 3 federal law, 2 ethics, 2 non-traditional mortgage lending and 1 elective.