In fact, if you fail the exam and retake it, it’s possible (and likely) that you can get an entirely different set of 125 questions! This is what makes it so difficult to master this exam. You have no idea which 125 questions you’re going to get. There are over 4,000 possible exam questions, and this number is continually growing with all the new rules and regulations being implemented by the Consumer Financial Protection Bureau (CFPB). Let’s not take the risk – let’s do it right the first time! Without further ado, let’s get into the top five reasons people fail. It’s easy to say “I have more than one shot at passing”.īut every time you see failure, it’s going to become harder and harder to pursue this license with the hope of a successful future as an MLO. This is why you want to pass the NMLS SAFE exam the first time, and not fall victim to these scary statistics. Not to mention, each time the exam is taken, there is a fee of $110 – so failing can become quite costly…. If they fail three times, the waiting period becomes six months! If an individual fails the test, they have to wait 30 days before being eligible to retake the exam. In my extensive career in real estate and mortgage training, I’ve come across individuals that have PhDs, Master’s degrees, and even years of experience as Real Estate Brokers – who have all failed the NMLS SAFE exam on their first attempt. Passing the exam is not easy… in fact, according to NMLS SAFE test passing rate, the first time pass rate is 54%, and only 46.7% for subsequent attempts.
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