NMLS exam cheat sheet: the numbers to know
This NMLS exam cheat sheet puts the numbers on one page: the test's own specifications, then the day counts, hours and percentages in the federal rules the SAFE MLO Test outline names. Each line gives the section it comes from, so you can read the rule itself. We checked every figure against NMLS's MLO Testing Handbook and the eCFR text of Regulations Z, X, B and H, current to 4 Nov 2026. It is study material: your state and your company may be stricter, and the regulation controls.
The test itself
| Number | What it means | Source |
|---|---|---|
| 120 | Multiple-choice items on the test. 115 are scored and 5 are unscored pretest items, mixed in at random. | Handbook 1.2 |
| 190 minutes | Test time. The appointment is 225 minutes because it adds a tutorial and an optional survey. | Handbook 1.2 |
| 75% | The score you need, or better. The SAFE Act sets it. | Handbook 1.1; 12 CFR 1008.105(e)(1) |
| 30 days | The wait after your first and after your second failed attempt, counted in calendar days from the previous test date. | Handbook 10.1; 12 CFR 1008.105(e)(2) |
| 180 days | The wait after every third failed attempt. Regulation H says at least 6 months, and NMLS applies 180 calendar days. Then the cycle starts again. | Handbook 10.1; 12 CFR 1008.105(e)(2) |
| 5 years | Go five consecutive years without a state license or federal registration and a passed result expires, so you retest. | Handbook 11.1; 12 CFR 1008.105(e)(3) |
The fee, scheduling and cancellation rules are in NMLS exam cost, retakes and waiting periods.
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General Mortgage Knowledge
What is the longest loan term a general qualified mortgage may have under Regulation Z?
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TRID and Regulation Z
- 3 business days: the Loan Estimate is delivered or mailed no later than the third business day after the creditor receives the application (1026.19(e)(1)(iii)(A)).
- 7 business days: the Loan Estimate is delivered or mailed no later than the seventh business day before consummation (1026.19(e)(1)(iii)(B)).
- 3 business days: the consumer receives the Closing Disclosure no later than 3 business days before consummation (1026.19(f)(1)(ii)(A)).
- Midnight of the third business day: where rescission applies, the consumer can rescind until then, counted from consummation, delivery of the rescission notice or delivery of all material disclosures, whichever comes last (1026.23(a)(3)(i)).
Which business-day definition each rule uses, the 4-day rule for a revised Loan Estimate and the waivers are in the TRID timing cheat sheet.
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RESPA and Regulation X
| Number | Rule | Section |
|---|---|---|
| 3 business days | The lender delivers or mails the special information booklet after it receives or prepares the application. | 1024.6(a)(1) |
| 3 business days | The lender provides the list of homeownership counseling organizations after it receives an application. | 1024.20(a)(1) |
| One-twelfth | The most a servicer can charge each month for escrow is one-twelfth of the annual escrow payments it expects to make, plus the cushion. | 1024.17(c)(1)(ii) |
| One-sixth | The escrow cushion can be no more than one-sixth of the estimated annual payments out of the account. | 1024.17(c)(1) and (c)(5) |
| 45 calendar days | The initial escrow account statement comes at settlement or within 45 calendar days of it. | 1024.17(g)(1) |
| 30 days | The annual escrow account statement goes out within 30 days of the end of the escrow computation year. | 1024.17(i) |
| 15 days | Servicing transfer notice: the old servicer sends it at least 15 days before the transfer takes effect, the new servicer no more than 15 days after. | 1024.33(b)(3)(i) |
| 60 days | For 60 days from the transfer, an on-time payment sent to the old servicer cannot be treated as late. | 1024.33(c)(1) |
| 120 days | A servicer makes no first foreclosure notice or filing until the loan is more than 120 days delinquent. | 1024.41(f)(1)(i) |
ECOA and Regulation B
| Number | Rule | Section |
|---|---|---|
| 3 business days | The notice of the applicant's right to a copy of appraisals goes out no later than the third business day after the application, for a loan to be secured by a first lien on a dwelling. | 1002.14(a)(2) |
| Promptly, or 3 business days before consummation | The applicant gets a copy of each appraisal and written valuation promptly when it is done or 3 business days before consummation, whichever is earlier. The applicant can waive the timing and take copies at or before consummation. | 1002.14(a)(1) |
| 30 days | The creditor notifies the applicant of the action taken within 30 days of receiving a completed application. The same 30 days applies after adverse action on an incomplete application or an existing account. | 1002.9(a)(1)(i) to (iii) |
| 90 days | Notice is due within 90 days of a counteroffer the applicant does not accept or use. | 1002.9(a)(1)(iv) |
| 60 and 30 days | An applicant who asks for the specific reasons within 60 days of an adverse action notice gets them within 30 days. | 1002.9(a)(2)(ii) |
| 25 months | The creditor keeps consumer application records for 25 months after notifying the applicant of the action taken. | 1002.12(b)(1) |
SAFE Act and Regulation H hours
- 20 hours of pre-licensing education, including at least 3 hours of federal law and regulations, 3 hours of ethics (fraud, consumer protection and fair lending) and 2 hours on lending standards for nontraditional mortgage products (1008.105(d)).
- 8 hours of continuing education a year, including at least 3 hours of federal law and regulations, 2 hours of ethics and 2 hours on nontraditional mortgage lending standards (1008.107(a)(2)).
- One year at a time: continuing education credit applies only to the year you take the course, and you cannot repeat the same course in the same year or the next (1008.107(b)).
- 2 for 1: an instructor of a continuing education course earns 2 hours of credit for each hour taught (1008.107(c)).
- 7 years: a felony conviction, or a guilty or no-contest plea, in the 7 years before the application rules a person out, and so does one at any time if the felony involved fraud, dishonesty, a breach of trust or money laundering (1008.105(b)(1)).
These are federal minimums. States can require more, so check your own state's rules before you apply.
The percentages
| Content area | Share of the test |
|---|---|
| Mortgage Loan Origination Activities | 27% |
| Federal Mortgage Related Laws | 24% |
| General Mortgage Knowledge | 20% |
| Ethics | 18% |
| Uniform State Content | 11% |
The weights come from NMLS's content outline. What sits under each area is in the content outline guide.
10% tolerance: charges for third-party services and recording fees are in good faith if their total is no more than 10% over the total on the Loan Estimate. The charge cannot be paid to the creditor or an affiliate, and the creditor must let the consumer shop for the service (1026.19(e)(3)(ii)). Charges outside that bucket, and outside the variable charges the rule lists, have zero tolerance (1026.19(e)(3)(i)).
For LTV, debt-to-income, points, prepaid interest and ARM caps, work the methods in mortgage math for the NMLS exam.
What we left out on purpose
Some mortgage numbers are dollar amounts that change over time, most of them adjusted every year: the HOEPA high-cost triggers, the qualified mortgage points-and-fees tiers, conforming and FHA loan limits, and FHA mortgage insurance premiums. A cheat sheet that prints them goes stale. Learn what each threshold does and remember that the amount changes each year.
Take the free check
Numbers stick when you use them. Take the free 10-question check and see your score by content area in minutes. It needs no signup and explains every answer. To drill the rules on this page, flip the free NMLS flashcards.
The Rate Lock course has lessons for each content area, original practice questions with every answer worked, and timed practice exams. Your scores come back by content area. It is test prep only and is no substitute for the 20 hours of pre-licensure education from a provider NMLS lists. See the course.
Not affiliated with or endorsed by NMLS, CSBS or Prometric. NMLS, CSBS and Prometric are named only to identify the exam, its owner and its test vendor. This is study material, not legal advice. The regulation controls.
Sources
Show the list
- 1.0 Overview and Test Specifications, MLO Testing Handbook, NMLS Resource Center, sections 1.1 and 1.2. Checked 7 Nov 2026.
- 10.0 Retaking a Failed Test / Waiting Period, MLO Testing Handbook, NMLS Resource Center. Checked 7 Nov 2026.
- 11.0 Test Expiration, MLO Testing Handbook, NMLS Resource Center. Checked 7 Nov 2026.
- SAFE MLO National Test with Uniform State Test Content Outline, NMLS Resource Center, for the content area weights. Checked 7 Nov 2026.
- 12 CFR 1026.19(e) and (f), 1026.23, Regulation Z, eCFR, current to 4 Nov 2026. Checked 7 Nov 2026.
- 12 CFR 1024.6, 1024.17, 1024.20, 1024.33, 1024.41, Regulation X, eCFR, current to 4 Nov 2026. Checked 7 Nov 2026.
- 12 CFR 1002.9, 1002.12, 1002.14, Regulation B, eCFR, current to 4 Nov 2026. Checked 7 Nov 2026.
- 12 CFR 1008.105, 1008.107, Regulation H, eCFR, current to 4 Nov 2026. Checked 7 Nov 2026.
Facts checked against the sources listed above. If something has changed, tell us and we will correct it within 2 business days.
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