California Mortgage Exam Prep
Every mortgage professional who originates loans in the state of California must be licensed. And being licensed means having to pass the National Mortgage Licensing System (NMLS) pre-licensing exam. The exam is relatively standard. SAFEMLOExam.com is a California mortgage exam prep solution that helps test takers pass their exam. 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. Of the remaining 90 questions, you must achieve a passing score of 75 percent or better.
For the exam, you will be tested on mortgage loan origination activities (25 percent), general mortgage knowledge (25 percent) and ethics (15 percent); most questions will involve federal mortgage related laws (35 percent). So it is essential that you prepare and know the regulations. Several regulations are described by letters e.g. RESPA is Regulation X, the Equal Credit Opportunity Act is Regulation B, the Truth in Lending Act (TILA) is Regulation Z, etc. Know your regulations, as well as which one is associated with which letter. You might see a question such as, “According to Regulation Z, which of the following is prohibited?” All the answers will constitute regulatory violations, but only one will violate TILA. So obviously, it’s helpful to know that Regulation Z is TILA.
That is just a little pressure, especially considering that many people who fail the exam do so by only two or three points. And according to the NMLS, between July 30, 2009, and last year October, the pass rate for first-time national-component test- takers was 69 percent.
Failing this exam means you have to wait for another 30 days before you will be eligible to retake the test each of your first four attempts. If you fail to meet up the pass mark after your first four attempts, then you have to wait for six months before you can retake the test. The question is can your business afford to be sidelined for that long?
California mortgage exam prep ensures that you pass the test once and for all, get licensed on time, take your business to another level and outdo your industry competitors. It also shows the credibility of your business and makes client have more trust in doing business with you.
As a mortgage professional, your time is valuable and a NMLS test prep course help you to maximize the use of your time as you only have to study at your leisure or free time. The Mortgage test prep in California ensures that you prepare and simultaneously manage your business rather that sit long hours in a mortar and brick classroom for preparing for the exam. Everything has been fully packaged in the online test prep course and it is sure to help you blast the pre license exam with good grade at one sitting.
The reason most people fail the NMLS exam is that they don’t study, pay little attention to their test prep, panic when they don’t understand a question or read the questions too fast. This test is extremely important to your career, so it is important you prepare for it with California mortgage exam prep from www.safemloexam.com.