Free Practice Questions for Indiana MLO
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Key Facts: Indiana MLO Exam
120
Exam Questions (115 scored)
NMLS
75%
Passing Score
NMLS
20 hrs
Pre-License Education
Indiana DFI
Judicial
Foreclosure Type
Indiana Code
Indiana MLO applicants take the SAFE MLO Test with Uniform State Content: 120 questions (115 scored) in 190 minutes, with 75% needed to pass. Indiana DFI also requires at least 20 hours of NMLS-approved pre-licensing education, which need not be Indiana-specific, and 8 hours of continuing education each year.
Sample Indiana MLO Practice Questions
Try these sample questions to review concepts for the Indiana MLO exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 200+ question experience with AI tutoring.
1Which state agency is primarily responsible for regulating mortgage loan originators in Indiana?
2How many hours of pre-license education are required for an MLO license in Indiana, including the NMLS-required component?
3What is the minimum surety bond amount required for a mortgage loan originator company in Indiana?
4Under Indiana law, what is the continuing education requirement for licensed mortgage loan originators?
5When does an Indiana MLO license expire and require renewal?
6Which Indiana statute primarily governs first-lien mortgage lending in the state?
7Under Indiana's Home Loan Practices Act, which of the following practices is prohibited for high-cost home loans?
8What type of foreclosure does Indiana primarily use?
9What is the statutory redemption period after a foreclosure sale in Indiana?
10Under Indiana law, how much advance notice must a lender provide before filing a foreclosure action?
About the Indiana MLO Exam
Indiana mortgage loan originator applicants take the SAFE MLO Test (National Test with Uniform State Content), which covers federal mortgage laws, uniform state content, general mortgage knowledge, loan origination activities and ethics. Indiana licenses MLOs through the Department of Financial Institutions or the Secretary of State, depending on the sponsoring employer, and requires at least 20 hours of NMLS-approved pre-licensing education.
Exam sponsor: NMLS (license: Indiana DFI or Secretary of State). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.
Questions
120 questions
Time Limit
190 minutes
Passing Score
75%
Reported exam pass rate: 53% (first-time, NMLS, 2024). This describes exam candidates, not OpenExamPrep users or results from using our resources. Exam sponsor website
Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.
Official sources
Our practice resources: topics covered
We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.
Federal Mortgage Related Laws
RESPA and Regulation X, ECOA, TILA and Regulation Z, TRID, HMDA, FCRA and FACTA, BSA/AML, GLBA and other federal laws
Uniform State Content
SAFE Act and model state law: regulatory authority, licensing, NMLS, compliance and prohibited conduct
General Mortgage Knowledge
Qualified and non-qualified mortgages, conventional and government programs, loan products and mortgage terms
Mortgage Loan Origination Activities
Application, disclosures, underwriting, appraisal, title, insurance, closing and financial calculations
Ethics
Prohibited acts, fair lending, fraud detection, advertising, ethical behavior and consumer complaints
Preparing for the Indiana MLO Exam
What You Need to Know
- Passing score: 75%
- Exam length: 120 questions
- Time limit: 190 minutes
- Exam / certification fees: $110 Official sources
Using Our Practice Resources
- Work through all 200 available questions
- Review every answer and explanation
- Track weak areas and revisit them
- Use our AI tutor for tough concepts
Indiana MLO: Suggested Study Strategy
Frequently Asked Questions
What type of foreclosure does Indiana use?
Indiana is a judicial foreclosure state. Lenders must file a lawsuit in court, and foreclosure sales are conducted by the county sheriff. Indiana generally does not provide a statutory post-sale redemption period.
How many pre-license education hours does Indiana require?
Indiana requires 20 hours of NMLS-approved pre-license education, meeting the federal SAFE Act minimum. No additional state-specific hours are required beyond the standard 20.
What agency regulates MLOs in Indiana?
Indiana licenses mortgage loan originators through either the Department of Financial Institutions (DFI) or the Secretary of State (SOS), depending on which agency licenses the sponsoring employer. Both applications are completed in NMLS.
Does Indiana allow deficiency judgments after foreclosure?
Yes, Indiana allows lenders to pursue deficiency judgments after a foreclosure sale if the sale proceeds are insufficient to cover the outstanding mortgage balance.