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The rules, dates and numbers the test leans on, on one page. The test is 120 questions in 3 hours 10 min, weighted Federal mortgage-related laws 24%, Uniform State Content 11%, General mortgage knowledge 20%, Mortgage loan origination activities 27%, Ethics 18%. Figures are as at 11 Oct 2026; several adjust every January, so check the source when a figure matters to you.
MLO Prep is an independent study aid, not affiliated with or endorsed by NMLS, CSBS or SRR. NMLS is a registered mark of State Regulatory Registry LLC. All practice questions are original; they are not real or past test questions. A revision aid, not legal advice or pre-licensing education.
Know the numbers? Now apply them.
Most questions put these rules into a loan file with dates and amounts.
| Rule | What to remember | Source |
|---|---|---|
| SAFE MLO Test | 120 items (115 scored), 190 min, 75% to pass | NMLS Testing Handbook |
| Pre-licensing education | 20 hours: 3 federal, 3 ethics, 2 nontraditional, 12 electives | 12 U.S.C. 5104(c) |
| Continuing education | 8 hours a year: 3 federal, 2 ethics, 2 nontraditional, 1 elective | 12 U.S.C. 5105 |
| Test retakes | 30 days after 1st and 2nd failure; 6 months after 3rd | 12 U.S.C. 5104(d)(3)(B)-(C) |
| Felony look-back | 7 years; fraud-type felonies bar forever | 12 CFR 1008.105(b) |
| Temporary authority | Ends at 120 days if the application stays incomplete | 12 U.S.C. 5117 |
| Loan Estimate | Within 3 business days of application; 7 business days before consummation | 12 CFR 1026.19(e) |
| Closing Disclosure | Received 3 business days before consummation | 12 CFR 1026.19(f) |
| Rescission | 3 business days; up to 3 years if notice missing; refund in 20 days | 12 CFR 1026.23 |
| APR tolerance | 1/8 point regular; 1/4 point irregular | 12 CFR 1026.22 |
| HPML | APOR + 1.5 first lien, + 2.5 jumbo, + 3.5 subordinate; escrow 5 years | 12 CFR 1026.35 |
| HOEPA (2026) | APR > APOR + 6.5 (first lien); points and fees > 5% (loans of $27,592+) | 12 CFR 1026.32; eff. Jan 1, 2026 |
| QM points and fees (2026) | 3% for loans of $137,958+; $4,139 for $82,775-$137,957 | 12 CFR 1026.43(e)(3); eff. Jan 1, 2026 |
| ECOA | Decision in 30 days; counteroffer follow-up 90 days; records 25 months | 12 CFR 1002.9, 1002.12 |
| RESPA escrow | Cushion max 1/6; refund surplus of $50+ within 30 days | 12 CFR 1024.17 |
| Servicing | Transfer notices 15 days; errors acknowledged 5, answered 30 business days | 12 CFR 1024.33, 1024.35 |
| SAR (non-bank) | $5,000+; file within 30 days (60 if no suspect); keep 5 years | 31 CFR 1029.320 |
| Telemarketing | 8 a.m.-9 p.m. local; scrub every 31 days; EBR 18 months / 3 months | 16 CFR 310 |
| PMI (HPA) | Cancel on request at 80%; automatic at 78% of original value | 12 U.S.C. 4902 |
| 2026 conforming limit | $832,750 one unit; $1,249,125 high-cost ceiling | FHFA, Nov 25, 2025 |
RESPA questions test two things: what you may not pay or receive for referrals, and the servicing and escrow deadlines a servicer must meet. Expect scenario questions about real estate agents, title companies and escrow math.
TILA questions turn on what counts as a finance charge, how rescission works on refinances, what makes an ad trigger extra disclosures, and the price tests for higher-priced and high-cost (HOEPA) loans. The HOEPA dollar figures change every January; this note uses the 2026 figures.
TRID is the most date-heavy part of the test. You must know which business-day definition applies to each deadline, which changes restart the three-day wait, and which fees sit in the zero, 10% or unlimited tolerance buckets.
These rules decide whether a loan was responsibly underwritten and whether the MLO was paid lawfully. Expect questions on the eight ATR factors, what disqualifies a qualified mortgage, the 2026 points-and-fees caps, and pay plans that do or do not vary with loan terms.
Fair lending questions ask you to spot a prohibited basis, a forbidden question, a missed notice deadline or a discriminatory practice such as redlining. Know which characteristics each law protects and the ECOA timing rules.
This note covers the smaller federal laws that still produce several test questions: FCRA, GLBA privacy and safeguards, BSA/AML and SARs, telemarketing and Do-Not-Call, the MAP rule, the Homeowners Protection Act, E-SIGN, and which agency enforces what.
Uniform State Content starts with who needs a license and what it takes to get and keep one. These questions are pure rules with numbers: 20 hours, 75%, 30 days, 6 months, 7 years, 8 hours, 5 years and 120 days.
The second half of Uniform State Content is about the state regulator's powers and the Model State Law's list of prohibited acts. Questions describe misconduct and ask what the commissioner may do, or which prohibition applies.
Program questions ask which loan fits a borrower: conventional, FHA, VA or USDA, and what each one costs. Know who backs each program, the occupancy rules, the mortgage insurance or fee structure, and the 2026 conforming limits.
Product questions test how ARMs, interest-only, balloon, reverse and home equity loans behave, and vocabulary such as mortgagor, acceleration, subordination and points. Many are short calculations with ARM caps.
Origination activities are the largest section of the test (27%). Application questions focus on when an application exists, what may be collected and charged before the Loan Estimate, which early disclosures go out, and how to document the borrower's choices.
Underwriting questions are loan-file scenarios: which income counts, how to average it, which debts go in the DTI, how assets and gifts are documented, and how the appraisal sets the LTV. Program rules differ, so the question will name Fannie Mae, FHA or VA.
Closing questions cover title, insurance, the documents signed at the table, prepaid interest and the first payment date, rescission before funding, and what happens after closing. Many are short and factual; some test timing.
Expect several calculation questions with a basic on-screen calculator. Most are one or two steps: ratios, LTV, points, per diem interest, escrow, ARM caps and tolerance cures. The traps are using the wrong base.
Ethics is 18% of the test, and much of it is fraud and predatory lending. Questions name a scheme or describe a file with red flags and ask what the MLO should do. The right answer is almost always: verify, do not alter anything, escalate internally, and do not tip off the borrower.
The other half of ethics is everyday conduct: honesty with borrowers, conflicts of interest, fair treatment, truthful advertising, RESPA-safe relationships, privacy and staying within your license. Most questions ask what the MLO should do.
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