SAFE Mortgage Loan Originator
Testing Information
April 2010
NMLS Testing & Education
State Regulatory Registry LLC
a CSBS company
Test
Preparation
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Consider the Following:
• Individuals are not required to take pre-licensure or
continuing education courses prior to taking the test;
however, it is strongly recommended.
• While completing education and using the Content
Outlines and associated Reference Lists will assist
MLO’s to better prepare to take the test, these alone
do not guarantee an individual will pass the test.
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Consider the Following:
• Completing pre-licensure or continuing education and
preparing to take the test are not one in the same.
• MLO’s, particularly those new to the industry, are
likely going to need to spend additional time studying
for the test.
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Tools to Prepare
for the Test
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Content Outlines:
• provide the basic structure or blue print for a test
component
• are used to guide test question writing
• Can be used as a tool to help candidates
prepare for the test
• are found on the NMLS Resource Center
Professional Requirements> Testing> Test Content Outlines
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Review Test Content Outlines
• Each test component has its own outline
– National Component
– Unique State Specific Components
• Outlines map out:
• specific test content
and
• question distribution (weightings)
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Here’s what they look like…
Component Name
Weighting
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Here’s what they look like…
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Know the Reference Lists
• Most content outlines are followed by a Content Reference List.
• The Reference List cites many of the resources used in constructing
the SAFE MLO Test.
• Candidates should use this list to aid in test preparation.
• Course materials also make use of the Reference List.
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Taking the
Test
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Test Time-- National
National Component
•
•
•
•
•
2.5 hours test time (150 minutes)
15 minutes allotted for tutorial (before test)
15 minutes allotted for optional survey (after test)
Total seat time = 3 hours
100 questions in 150 min. = 1.5 min. per question
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Test Time– State Components
State Test Components
• 1.5 hours test time (90 minutes)
• 15 minutes allotted for tutorial (before test)
• 15 minutes allotted for survey (after test)
• Total seat time = 2 hours
• Approx. 60 questions in 90 min. = 1.5 min. per question
*State test lengths vary from 55 to 65 total questions
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
When Entering the Test Center
• Arrive 30 minutes prior to your test appointment
• Bring a current, government-issued ID with candidate’s
photo and signature
• Expect to be photographed; palm print may also be taken
• Basic calculator (not financial calculator) and scratch
paper are provided
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
When Entering the Test Center
• Candidate may not take anything into testing room (may
be asked to show empty pockets)
• All belongings such as notes, cell phones, watches,
wallets must be placed in a locker
• All candidates must read and agree to the NMLS Rules
of Conduct prior to taking the test
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Be Aware of NMLS Rules of Conduct
• Stress the confidentiality of all of the test questions and
test materials, as they are the copyrighted, proprietary
property of NMLS.
• Any attempt to modify, publish, transmit, or create
derivative works of the test materials, in whole or in part,
is a direct violation of copyright laws, the Agreement
and the Rules of Conduct and will subject you to federal
and/or state sanctions.
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Test questions are:
• written by mortgage subject matter experts
• reviewed, edited, and approved by expert committees
consisting of both regulators and industry professionals
• created from content outline categories and
subcategories
• supported by reference materials (laws, regs, etc.) (see
Content Outlines)
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Test Questions Debunked
All questions are 4-option multiple choice. For example:
If an applicant works 40 hours every week and is paid $13.52
per hour, what is the applicant’s monthly income?
(A) $2,163.20
(B) $2,343.47
(C) $2,379.52
(D) $2,487.68
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Test Questions Debunked
• No trick questions are used
– The incorrect answers may seem plausible but are incorrect
– All questions have one and only one correct answer
• No “All of the Above” or “None of the Above” options
• No short answer, fill-in-the-blank or true/false questions
• Take time to read questions carefully and read all of the
answer options!
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Test Questions Debunked
“You” is not used. Proper names are not used.
For example: What does a loan originator use to determine the estimated value
of a property based on an analytical comparison of similar property sales?
(A) An appraisal
(B) A market survey
(C) An area survey
(D) A cost-benefit analysis
Not:
What does John Doe use to determine the estimated value of a property based
on an analytical comparison of similar property sales?
What should you use to determine the estimated value of a property based on
an analytical comparison of similar property sales?
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Un-Scored (Pretest) Questions
•
There are ten pre-test questions that appear in the
National Component and each State Specific
Component that are being pilot tested for future use.
•
These pre-test questions are being “tried out” to
determine if they meet appropriate standards of quality
to be used as scored questions on future SAFE MLO
tests. If a test question does not meet established
testing standards, it will not appear as a scored
question on a test.
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Un-Scored Questions:
• are pre-determined and do not affect a candidate’s score
in any way
• are not marked in any visible way to the test-taker
(candidates can’t distinguish between a scored or an unscored question)
• are scattered randomly throughout the test, so all
questions should be answered to the best of your ability
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Reschedule / Retake
Policy
State Regulatory Registry LLC
a CSBS company
If you need to Reschedule a Test
•
•
Must contact Pearson VUE or Prometric directly to reschedule
Must be rescheduled no later than 12 p.m. local time two business days
prior to appointment
Appointment scheduled for:
Sunday, Monday
Tuesday
Wednesday
Thursday
Friday
Saturday
Cancelled /Rescheduled by 12:00 p.m. local
Thursday of the preceding week
Friday of the preceding week
Monday of the same week
Tuesday of the same week
Wednesday of the same week
Thursday of the same week
*If a holiday occurs during the normal cancellation/reschedule period, this schedule adjusts to define
"timely cancellation" as one day earlier than stated above.
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company
Retake Policy
• Must wait 30 days between each test taking attempt
• May create an enrollment and schedule an appointment
right away but can’t take the test prior to the end of
prescribed wait time
• After every fourth failed attempt, a 180 day wait time is
instituted
After passing a test component, you are not be allowed to
retake that particular test component.
Nationwide Mortgage Licensing System
State Regulatory Registry LLC
a CSBS company