NMLS SAFE MLO Cheat Sheet.
The NMLS SAFE MLO numbers, rules and traps that decide questions, on one page. Review them here, then download the free PDF for offline study.
Download the PDFQuick facts
the numbers to know before exam day- Questions
- 120
- Time limit
- 3h 10m
- Passing score
- 75% or better
- Exam fee
- $110
- Governing body
- NMLS (Nationwide Multistate Licensing…
Full write-up
the complete guide, in proseTest mechanics
- 120 questions (115 scored + 5 unscored) · 190 minutes · $110 per enrollment · pass at 75%
- Retakes: 30-day wait between attempts · 180 days after every 3rd fail · new paid enrollment each time
- Outline: Origination 27% · Federal law 24% · General knowledge 20% · Ethics 18% · UST 11%
- Answer by current law, not outdated prep material
The clocks (most-tested numbers)
- Loan Estimate: within 3 business days of application (6 items: name, income, SSN, address, est. value, loan amount)
- Closing Disclosure: received 3 business days before consummation (APR change / product change / added prepay penalty restarts it)
- Rescission: 3 business days — refinance of principal dwelling only, never purchases
- ECOA action notice: 30 days · RESPA servicing-transfer protection: 60 days
- PMI: request cancellation at 80% LTV · automatic termination at 78% (loan current)
Regulation map
- Reg Z = TILA · Reg X = RESPA · Reg B = ECOA · Reg C = HMDA
- RESPA §8: no kickbacks/referral fees — disclosure never cures
- ECOA protected: race, color, religion, national origin, sex, marital status, age, public assistance
- FCRA: permissible purpose to pull credit · GLBA: privacy notice + opt-out
- ATR: verified ability to repay · LO Comp: pay cannot follow loan terms (rate)
Products in one line each
- ARM: rate = index + margin; caps first/periodic/lifetime (2/2/5)
- FHA: low down + upfront & annual MIP · VA: 0 down, veterans, funding fee · USDA: rural + income limits
- Conforming = saleable to Fannie/Freddie within limit; above = jumbo
- HECM reverse: 62+, no monthly P&I, due on leaving home
- Balloon = lump sum due · NegAm = balance grows · Note = promise, mortgage = pledge
- 1 point = 1% of loan, buys rate down · Monthly interest = balance × rate ÷ 12
UST numbers
- PE: 20 hours (3 fed law / 3 ethics / 2 nontraditional / 12 elective)
- CE: 8 hours/year (3/2/2/1) — don't swap 20 and 8
- Felony w/ fraud or dishonesty: permanent bar · other felonies: 7 years
- NMLS ID on applications + ads · originate only under active sponsorship
Ethics reflexes
- Named schemes: occupancy fraud · straw buyer · silent second · flipping · equity stripping
- Consent, small size, or good intent never cure a misstatement
- Appraisal independence: no pressure, no target numbers, from anyone
- Steering + discouraging protected income = fair-lending violations
- When in doubt: stop the file, document, escalate
Frequently asked questions
What is worth reviewing in the final hour before the appointment?
The numbers, in one pass: the TRID three-day clocks, ECOA's 30 days, RESPA's 60-day protection, PMI's 80/78 pair, the 20-hour PE and 8-hour CE structures, and the regulation map (Z-TILA, X-RESPA, B-ECOA, C-HMDA). These are the facts that decay fastest under nerves and score the most reliably.
How should I manage the 190 minutes?
At 120 questions in 190 minutes you have about ninety seconds per item — enough to read carefully once, answer, flag genuine uncertainties and move. Budget a final half hour for flagged items. Running out of time is rare for candidates who resist re-deliberating settled answers.
Does this sheet replace the 20-hour pre-licensure course?
No — the 20 hours of NMLS-approved education are a legal prerequisite for licensure, not a study suggestion, and this sheet assumes you've completed them. Its job is consolidation: compressing what the course and the practice bank taught into the facts you carry into the room.
Sources
- 1.SAFE MLO National Test with Uniform State Test Content Outline — NMLS / Conference of State Bank Supervisors (CSBS) (accessed Aug 6, 2026)
- 2.MLO Testing Handbook — 10.0 Retaking a Failed Test / Waiting Period — NMLS / Conference of State Bank Supervisors (CSBS) (accessed Aug 6, 2026)
- 3.MLO Testing Handbook — 1.0 Overview and Test Specifications — NMLS / Conference of State Bank Supervisors (CSBS) (accessed Aug 6, 2026)
Official sources
Primary documents used to verify the exam details shown on this page.
- SAFE MLO National Test with Uniform State Test Content OutlineNMLS / Conference of State Bank Supervisors (CSBS)mortgage.nationwidelicensingsystem.org
- MLO Testing Handbook — 1.0 Overview and Test SpecificationsNMLS / Conference of State Bank Supervisors (CSBS)mortgage.nationwidelicensingsystem.org
- MLO Testing Handbook — 10.0 Retaking a Failed Test / Waiting PeriodNMLS / Conference of State Bank Supervisors (CSBS)mortgage.nationwidelicensingsystem.org
Last verified against the official exam content outline: