Advice On Passing The NMLS Examination
This Article On Taking And Passing The NMLS Examination The First Time Around Was Written By Bob Vogel NMLS 1446953 Of The Gustan Cho Team at CrossCountry Mortgage
- Do you have 30 days that you can commit yourself.
- You cannot work a full time job, have overtime, and need time for your family and expect to be passing the NMLS Examination in 30 days.
- I mention 30 days because the key in passing the NMLS Examination the first time around, it needs to be accomplished in 30 days or less due to the overwhelming amount of information a loan officer candidate needs to absorb.
- You need to want to become a loan officer and take this task of passing the NMLS Examination the first time around extremely seriously or you will not pass.
- Key to passing the NMLS Examination is to go over hundreds if not thousands of multiple choice test questions.
Statistics On Passing The NMLS Exam
Here are the general statistics according to the NMLS on the national pass numbers of loan officer candidates on the federal NMLS Exam:
- According to the NMLS, as of March 31, 2016, the national pass rate of the federal NMLS Examination is 65.5% for first-time test takers, 46.7 % for subsequent test takers, and 61.31% overall.
- What does this mean for you? Well, for starters, if you want to take the NMLS exam and pass the first time you really need to develop a study plan and you need to commit to that study plan.
Passing The NMLS Examination: Study Guides
- There are hundreds of different study materials out there so this can be a very daunting task.
- Deciding what study material is a personal decision.
- Maybe someone recommended a study guide for you.
- In my case, a colleague recommended The Safe Mortgage Loan Origination National Exam Study Guide, by Patricia O’Connor.
- This study guide is an easy read and there are practice questions at the end of each chapter, along with two final exams.
- I would recommend taking final exam number 1 before you even start reading the book.
- This will show you what areas you are weak in and you can focus on studying those areas more thoroughly than any other areas that you were stronger in.
Studying The Text And Book
- I made notes as I read, paying special attention to areas I was weaker in.
- At the end of each chapter is a special points to remember section.
- I rewrote each of these points to help instill the topics into my mind.
- I then took the chapter test at the end of each chapter.
- I continued with this method for every chapter.
Key Pointers Before Taking The NMLS Exam
Here are important pointers for passing the NMLS exam:
- Read each answer option.
- For example don’t just automatically choose answer A.
- I always start by reading the last answer choice and working my way to the first answer.
- I would go with my first instinct on what the answer should be.
- I have found in taking many exams, that erasing my answers and changing them resulted in me selecting the incorrect answer.
- Make an educated choice if you are unsure of what the answer should be. Never just pick any answer.
- Most of the time, at least two of the answers are blatantly wrong. If you can eliminate those, you have a 50/50 chance of selecting the correct answer.
- If all else fails and you are unsure of what answer to choose, select the longest and most descriptive answer.
- Skip over questions that you absolutely don’t know.
- Save for review and come back later to review it.
- Read each question carefully.
- Look for key words such as except, always, or never.
- Double check your math.
- Use the calculator that the testing center provides you.
- You don’t want to lose points from mistakes that can be avoided from simple calculation errors.
- Make sure you don’t forget to answer each question.
- Don’t skip questions and forget to go back to answer them.
- If you are nervous take deep breaths and try to remain calm.
- Most important is to relax the night before the exam.
About The Author Of Passing The NMLS Examination: Robert Andrew Vogel III NMLS 1446953
- Arlene Di Sessa has over 20 years of experience with federal and state income tax returns and over ten years of experience in business taxation, including leading and conducting audits of global and national corporations.
- Bob Vogel NMLS 1446953 is a licensed mortgage loan originator and team leader with The Gustan Cho Team at CrossCountry Mortgage.
- Helping families realize the dream of home ownership become a reality is Bob’s main mission and goals for choosing to become a loan officer with The Gustan Cho Team at CrossCountry Mortgage