*Some links on this page may be affiliate links. For more information refer to our Privacy Policy.

Anyone who has passed the National Mortgage Licensing System exam (NMLS) knows that it takes some seriously hard work. You have to study a lot for the national test and if your persistent you’ll become one of the many successful mortgage brokers or mortgage loan originators (MLO). With a little bit of extra help, however, you can definitely improve your chances and make sure that you’re going to be ready for absolutely anything that comes your way.

Under federal law, a mortgage broker or MLO must pass the national test before they can even get their foot into the mortgage world. The best way is to make sure that you look at each of the following tips in this study guide and figure out how they’re going to help you be more successful through exam preparation:

1)  Take A Class Which Includes Test Prep Material

teacherThe best thing that you can do to help yourself with your NMLS test is to take a class that includes test prep material. Many courses will provide you with study guides and/or test prep questions. Take full advantage of these materials as many are tailored to the NMLS exam them selfs and even include questions you will find directly on the test. It’s not just about having the instructor personally available to answer questions (though that is a big benefit), but it’s also about being able to utilize guides that are made to help you pass the test.

2)  Get Plenty Of Rest

You definitely want to have plenty of sleep before you take your test. Just like anything else important in life you want to be as prepared as possible by getting enough sleep so that you feel comfortable and wide awake. After all, that’s going to help you be more focused and feel super clear on what you have studied. Not only that, don’t make plans for immediately after the test assuming you’ll be out early. By doing this, you’ll feel distracted throughout the test and you’ll be thinking about rushing all the time.

3) Check Out The Tutorialinstructions

When you take the test it will be online at a specific location. Of course, there are always going to be different ways that different tests will work. You want to go through the tutorial process so you know exactly how it’s going to work and you feel comfortable navigating in the program. The tutorial is also extremely important to follow so your test is counted properly and you receive all your points. It’s very important to make sure you’re comfortable with the program before you move on, if you have question don’t be afraid to ask someone for help.

4) Answer What You Know

When you read a question and you just flat out know the answer, answer it immediately. Read the question and decide whether you know the answer and you’re absolutely positive or if you’re not sure. If you are 100% sure, then select your answer and move on. If you look at the question and you’re not sure just put it off until later. You want to get through as many questions as you can (and hopefully all of them) before you run out of time.

5) Read The Questions Carefully, Twicefocusing

Before you lock in any answer make sure that you read the question slowly and carefully. Read each and every word in the question so you don’t miss a ‘not’ or an absolute (like ‘all,’ ‘every,’ etc.). When you’ve read it through and you have an idea of what it says take another minute to read it through a second time, a little slower this time, focusing on each word. The NMLS test is known to throw in tricky questions like this, so make sure you are taking your time to make sure you’ve read it right.

6) Answer Each Question

Pay attention to the amount of time that you have left. When you start getting to the end make sure that you go through and put an answer down for everything. Take a moment to read through each of the questions, one at a time and put down your first instinct. If you don’t have any idea of the answer make sure you weed out the ones you know aren’t right and then choose from the ones that are left. If you don’t answer the question it’s automatically wrong so if you at least put something down you have a chance of getting it right.

7) Read The Question As WrittenAssume

When you start reading through your situational questions and multiple-choice questions, do not add any information unless the question asks you to. Assume that everything you need to answer the question is right there in the question and use that to come up with an answer. Otherwise, you could end up with the wrong information and the wrong answer as a result.

8) Eliminate The Wrong Answer

When you read the question, even if you don’t really know for sure what the answer is, chances are you do know what it’s not. You can usually eliminate at least one and possibly even two answers right off the bat. That means you’ve already raised your chances of getting the right answer from 25% to 33% or even 50%. That’s definitely a great benefit and makes it more likely you’ll be right.

9) Study OftenStudy Often

Don’t just assume that you know everything and you don’t need to do anything else or work at it. Take time to study as much as you can so you’re prepared for the test. There are going to be a lot of questions on there and you don’t want to be relying on your memory without any additional studying. It never fails that there are questions you just won’t know, by taking the time to study this will help decrease this situation drastically.

10) Keep Track Of Regulations

When you’re studying you definitely want to make sure that you know the regulations. These are one of the many things that you will likely be asked about in a very basic fashion. For example, you may be asked what a specific regulation is or what it means. You want to know these things by memory.

Studying and working hard toward your NMLS exam is extremely important. Make sure that you don’t take it too lightly and that you pushing yourself with the right test preparation. You want to give yourself the best possible chance and make the most of the experience.

10 Most Effective Tips For Passing The NMLS Test

Leave a Reply

Your email address will not be published. Required fields are marked *