Mortgage Marketing Forum Academy (2024)

FAQs

How hard is the safe MLO exam? ›

Test Difficulty is Subjective

The difficulty of the NMLS SAFE Exam is often subjective and depends on the individual test-taker's level of preparation and experience in the mortgage industry. Some test-takers find the exam to be relatively easy, while others may struggle to pass.

The SAFE Act requires MLOs to pass the National SAFE Exam with a score of 75% or better.

With study, hard work, and dedication, new mortgage loan officers can progress rapidly in their career. The most common challenges include meeting sales metrics, keeping up with legal requirements and industry regulations, and meeting the demands of clients with unique needs and high expectations.

In fact, only 56% of NMLS test takers pass the exam on their first attempt.

An individual who fails a test may retake the test up to two consecutive times with at least 30 days passing between each retesting. An applicant who fails three consecutive tests must wait at least 180 days before retesting. For more information about retesting, please visit the NMLS Website.

If you don't pass your exam on the first attempt, you may take it again by purchasing a retake. You can pay a $50 retake fee and immediately retake the exam. The retake fee for Implementing SAFe is $250. If you don't pass the retake exam, you may try a third time after a 10-day waiting period.

We recommend that you study for at least 20 hours for the SAFE test. This does NOT include your 20+ hours of pre-licensing education. The amount of time you spend with the material will have a serious impact on how much you recall while in the testing center.

The AUGS Self-Assessment Fellows Exam (SAFE) is a web-based, multiple choice exam designed to test objectives found in the Guide to Learning for Urogynecology.

To pass the NMLS exam and obtain your license, NMLS requires you to answer at least 75% of the questions correctly.

Is the NMLS exam all multiple-choice? ›

And being licensed means having to pass the National Mortgage Licensing System (NMLS) pre-licensing exam. The exam is relatively standard. It includes 100 computer-generated, multiple-choice questions that must be answered within three hours. Ten of the 100 questions are “test” questions that do not affect your grade.

NMLS test questions are very tricky and it's almost impossible to understand a question if you can't understand exactly what it's asking. We have a heavy focus on vocabulary because this is one of the main ways to increase your chances of passing. Taking handwritten notes can be a huge part of why people pass.

Is a Loan Officer a good side hustle? Being a loan officer can be a good side hustle if you have the necessary skills, are willing to invest the time in training and licensing, and there is a demand for such services in your area.

Get the proven strategies that helped close Billions of dollars in funded deals! According to CareerExplorer, loan officers rank in the bottom 5% of careers when it comes to job satisfaction, yet MPA rates the career as one of the happiest. Being a loan officer also ranks as one of the best business jobs in the US.

As mentioned, passing the NMLS test on the first try is especially difficult. According to NMLS SAFE, the first-time pass rate is 54%. Just 46.7% pass it on subsequent attempts.

The SAFE MLO exam contains 120 multiple-choice questions, and you will be given a time limit of 190 minutes.

An individual should plan on spending a couple of hours a day for 3 to 8 weeks to be truly prepared.

Everyone is correct, it's not difficult. But it's impossible to know something that you don't already know, plus sometimes they change some of the numbers. Pay attention to the class and take the test.