-
How hard is the 20 hour SAFE Course?
Can anyone pass the class and the test? I heard it is harder than the real estate agent’s test.
-
2 Replies
-
The 20-hour NMLS pre-licensing course is nothing. However, the exam is another story. The key to passing the exam the first time is practicing with a couple of thousand multiple-choice questions—at least two thousand practice exams. The tricky part of passing the NMLS exam is there are four potential answers to the question. Two of them are automatically disqualified. However, the other two is so close. It is like this throughout the entire test.
-
Yes, there are quite a number of students vying for the mortgage loan officer test, but there are mostly focused courses and preparation resources available. The National SAFE MLO Test is noted to be difficult because it encompasses detailed aspects, including federal mortgage law, ethics, loan origination, and mortgage calculations. The MLO test is noted to be more technical than the real estate agent exam and is said to focus more on compliance regulations.
Factors to Consider Before Taking the MLO test:
Know the Federal Laws: almost half of the questions cover federal mortgage laws. Hence, a wise understanding is vital.
Study Ethics and Loan Origination: This encompasses lending best practices, regulations, and ethical issues.
Do Some Formulas: These are used to perform loan calculations and APR, DTI, LTV, ratios, and payment scenarios.
Employ Practice Exams: Practice tests will inform you of the test duration and questions.
Surely, with the right resources, poise, and diligence, passing the MLO test is possible.