Practice Test Geeks(NMLS) National Mortgage Licensing System Practice Test
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Education and Testing Flashcards

7 cards from real NMLS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Education and Testing flashcards as text

  1. An MLO's license lapses for more than five years. What must the individual do before obtaining a new license?

    Answer: Complete new PE hours and retake the SAFE test

    If a license has been lapsed for more than five years, the MLO must complete new pre-licensure education and retake the SAFE test.

  2. Which of the following states may impose CE requirements that EXCEED the federal 8-hour minimum?

    Answer: Any state may set higher requirements

    States may enact CE requirements that are more stringent than the federal minimum, and many do require additional hours or specific state-law content.

  3. What is the purpose of the 'Uniform State Test' (UST) component added to the SAFE MLO Test?

    Answer: To replace state-specific tests for participating states

    The UST component allows participating states to eliminate their separate state-specific tests, with the national exam covering uniform state content.

  4. Which of the following correctly describes 'equivalent examination' as referenced in the SAFE Act?

    Answer: A prior passed test that a state may accept in lieu of the SAFE test under specific conditions

    Some states may recognize a prior examination as equivalent and waive the requirement to retake the full SAFE test under defined circumstances.

  5. Under the SAFE Act, which entity has primary responsibility for reviewing and approving education providers?

    Answer: NMLS

    NMLS is responsible for reviewing and approving both education providers and individual courses for pre-licensure and CE purposes.

  6. How many of the 8 annual CE hours must address ethics for a licensed MLO?

    Answer: 1 hour

    One of the 8 annual CE hours must cover ethics, including fraud, consumer protection, and fair lending issues.

  7. An instructor who teaches an NMLS-approved PE course wishes to receive PE credit for instructing the course. Is this permitted?

    Answer: No, instructors may not receive credit for courses they instruct

    NMLS rules prohibit instructors from receiving pre-licensure or continuing education credit for courses they themselves teach.