I bet a lot of us have good advice to share re: taking the NMLS test. I thought I'd start a thread where everyone can post their experiences and tips. Look forward to seeing what you all have to share!

I have never heard of this test. What is it? I guess it is a mortgage thing for loan officers.

I am a very good test taker, enough so that I never study enough.
Studying I find real estate tests usually center on Fair Housing Practices, RESPA, HUD, protected classes. I always concetrate on those areas. Anywhere you can make a boo boo with the federal guidlelines in your work, expect a question on the test about it.

Many tests are easy to pass when basic logic is applied, even if you have little knowledge of the material.

Also a multiple choice test with 4 options...a random guessing would get you a 25%. If you are able to eliminate 1 of the answers as a choice, your random guessing would get you a 33%. By eliminating 2 choices, you can earn 50% by simply guessing. Most tests only require you to earn 70% to pass. So with little knowledge of the material you see how you could 'pass' a test.

This is especially true for multiple choice tests and true and false tests.

True and False quesitons usually tip the answer by using a word like AWLAYS or NEVER.
All bets are off if it is an essay test.
I always found the hardest tests were open book tests for me. The tests are usually harder and graded harder too, often they are timed.

Doin' bpose, you are correct - it is a mortgage licensing test administered by the Nationwide Mortgage Licensing System to become a mortgage loan originator (MLO). Maybe I should have been more clear on that!

Those are some good tips you shared, not just for this test but taking any tests. I think it is easy to get stressed out and not remember those basic principles that can increase your chances of success.

From my understanding, the NMLS is multiple choice, not true/false or essay. There are test prep courses available for the NMLS exam, and I found this link to be helpful in picking one: http://mortgage.nationwidelicensingsystem.org/profreq/education/Documents/How%20to%20Choose%20the%20Right%20NMLS%20Test%20Prep%20Course.pdf

Also, I found this video, "What to Expect on Test Day", on Youtube: http://www.youtube.com/watch?v=EjlJbm_BQuo&feature=related

I'd love to hear from more people about their NMLS exam experiences!

Respa = Rexpa Reg X
Tila = Tilz Reg Z
HMDA = Chmda Reg C


There is more. I passed a long time ago.