100+ Free NRMLA CRMP Practice Questions
Pass your NRMLA Certified Reverse Mortgage Professional (CRMP) exam on the first try — instant access, no signup required.
On a HECM, the 'Counselor' role:
Key Facts: NRMLA CRMP Exam
$1,249,125
2026 HECM MCA
HUD ML 2025-22
2.0% + 0.5%
IMIP + Annual MIP
FHA
62+
Minimum Age (HECM)
HUD
$250 + $175/yr
CRMP Fee
NRMLA 2026
3 yrs + 12 CE
CRMP Eligibility
NRMLA
100
Practice Questions
Free on OpenExamPrep
CRMP requires 3+ years reverse mortgage origination experience, 12 hours CE, NRMLA Code of Ethics commitment, background check, and passing the Pearson VUE exam. Annual cost: $175. Heavy focus on HECM mechanics: 2026 max MCA $1,249,125, 2% upfront IMIP + 0.5% annual MIP, PLF based on youngest borrower age + EIR, 60% first-year disbursement limit. Non-Borrowing Spouse deferral protections, LESA for property charges, H4P for new home purchase, and NRMLA ethical standards (senior consumer protection, anti-equity-stripping).
Sample NRMLA CRMP Practice Questions
Try these sample questions to test your NRMLA CRMP exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1The minimum age requirement for a HECM borrower is:
2The 2026 HECM lending limit (Maximum Claim Amount) is:
3HECM 'Principal Limit' (PL) is determined by:
4The 'Expected Interest Rate' (EIR) on a HECM is:
5HECM Upfront Mortgage Insurance Premium (UFMIP) is:
6HECM Annual MIP is:
7HUD-approved HECM counseling must be completed:
8The 'Non-Borrowing Spouse' (NBS) protections under HECM:
9The HECM 'Financial Assessment' for borrowers requires:
10A 'LESA' (Life Expectancy Set-Aside) is required when:
About the NRMLA CRMP Exam
The NRMLA Certified Reverse Mortgage Professional (CRMP) is the industry-standard credential for reverse mortgage origination professionals. Requirements: 3 years of reverse mortgage origination experience, 12 hours of continuing education, commitment to the NRMLA Code of Ethics and Professional Responsibility, a background check, and passing the Pearson VUE-administered CRMP exam. Costs: $250 application fee + $175 annual recertification fee. The exam covers HECM (Home Equity Conversion Mortgage) program mechanics (PLF, EIR, MIP, IMIP, payment options), 2026 lending limit ($1,249,125), eligibility (age 62+), Financial Assessment, LESA (Life Expectancy Set-Aside), Non-Borrowing Spouse protections, HUD counseling, due-and-payable events, assignment to HUD, HECM for Purchase (H4P), proprietary jumbo reverse products, and the NRMLA Code of Ethics.
Questions
100 scored questions
Time Limit
Per Pearson VUE testing center policy
Passing Score
Pass/Fail (per NRMLA blueprint)
Exam Fee
$250 application + $175/yr annual (National Reverse Mortgage Lenders Association (NRMLA))
NRMLA CRMP Exam Content Outline
HECM Program Mechanics
2026 Maximum Claim Amount $1,249,125 (HUD ML 2025-22, 150% of FHLMC conforming $832,750). Principal Limit = MCA × PLF (HUD table by youngest borrower age + Expected Interest Rate). Payment options: Tenure (monthly for life), Term (fixed months), Line of Credit (with growth at note rate + 0.5%), Modified Tenure (Tenure + LOC), Modified Term (Term + LOC). First-year disbursement limit: greater of 60% of PL OR Mandatory Obligations + 10% of PL.
Interest Rates & MIP
Expected Interest Rate (EIR) = index (10-year SOFR/CMT post-LIBOR) + lender margin for adjustable; = note rate for fixed. EIR drives PLF (lower EIR = higher PLF). Note Rate = current index + margin. Lifetime Cap: +5% over initial. IMIP (Upfront MIP) = 2% of MCA, max $24,982.50 in 2026, financed. Annual MIP = 0.5% of outstanding balance, accrued monthly. MIP funds FHA Mutual Mortgage Insurance Fund (MMIF), covers crossover loss.
Eligibility & Financial Assessment
HECM: borrower age 62+, principal residence, FHA-eligible property (1-4 unit SFR, FHA-approved condo, post-6/15/76 manufactured on permanent foundation). Financial Assessment (HUD ML 2014-22): income/credit/property charges payment history. If marginal: LESA required. Fully-Funded LESA (servicer pays T&I from set-aside) vs Partially-Funded LESA (borrower pays, lender draws if default). Repair Set-Aside if appraiser identifies FHA MPS issues (6-12 month completion).
Non-Borrowing Spouse
Eligible NBS: married to borrower at closing, occupies as principal residence, on note covenants, eligible to defer due-and-payable event after borrower's death. If NBS is younger than borrower, PLF uses NBS age (reduces PL). NBS Deferral conditions: continues to occupy, maintains property, keeps T&I current, becomes legal owner via probate. Cannot draw additional funds.
Counseling & Disclosures
HUD-Approved Counseling required BEFORE loan application (Certificate of Counseling valid 180 days). Independent counselor covers HECM mechanics, costs, alternatives, suitability. Disclosures: Reverse Mortgage Comparison Worksheet, TILA disclosures (TIL/CD), TALC (Total Annual Loan Cost) over various holding periods, RESPA disclosures, Right of Rescission (3 BD post-closing on refi/HECM).
Loan Events & Default
Due-and-payable events: (1) borrower's death (last surviving); (2) property no longer principal residence (12 consecutive months); (3) failure to pay property taxes, hazard insurance, HOA dues; (4) failure to maintain property; (5) sale/transfer (with limited exceptions). 6 months to resolve + extensions up to 12 months. Assignment to HUD at 98% MCA. Non-recourse: borrower/heirs never owe more than property value. HUD insures deficiency.
H4P & Proprietary Reverse
HECM for Purchase (H4P): combine HECM proceeds with borrower's cash to buy a new principal residence. Single closing. Same eligibility (age 62+, FHA-eligible property, counseling, financial assessment). Borrower's down payment from own funds (typically sale of prior home). Proprietary jumbo reverse (Equity Edge, EquityIQ, etc.): no FHA insurance, no MIP, higher limits ($1M-$4M+), age 55+ (some products), private counseling, no HUD oversight.
NRMLA Code of Ethics
NRMLA Code of Ethics & Professional Responsibility: Senior Customer (clear info, no pressure, no abuse, respect dignity); Conflict of Interest (disclose, prioritize borrower); Truth in Advertising (accurate, complete, balanced); Anti-Equity-Stripping (no cross-sell to inappropriate annuities/investments; 2-year cooling off in some states); Fair Dealing (anti-discrimination); Compliance (annual ethics declaration, 12 CE hours, NRMLA approval). Violations: suspension or expulsion.
How to Pass the NRMLA CRMP Exam
What You Need to Know
- Passing score: Pass/Fail (per NRMLA blueprint)
- Exam length: 100 questions
- Time limit: Per Pearson VUE testing center policy
- Exam fee: $250 application + $175/yr annual
Keys to Passing
- Complete 500+ practice questions
- Score 80%+ consistently before scheduling
- Focus on highest-weighted sections
- Use our AI tutor for tough concepts
NRMLA CRMP Study Tips from Top Performers
Frequently Asked Questions
What is the CRMP exam format?
The CRMP exam is administered by Pearson VUE at testing centers nationwide. It's computer-based, multiple-choice, and scored Pass/Fail per the NRMLA exam blueprint. Topics include HECM mechanics, payment options, financial assessment, LESA, non-borrowing spouse protections, due-and-payable events, H4P, proprietary jumbo reverse, and the NRMLA Code of Ethics.
What are the CRMP eligibility requirements?
To earn the CRMP designation: (1) 3 years of reverse mortgage origination experience; (2) 12 hours of continuing education; (3) commitment to the NRMLA Code of Ethics and Professional Responsibility; (4) successful background check; (5) pass the Pearson VUE-administered CRMP exam. Costs: $250 application + $175 annual recertification.
What is the 2026 HECM lending limit?
Per HUD Mortgagee Letter 2025-22, the 2026 HECM Maximum Claim Amount is $1,249,125 — a 3.26% increase over 2025's $1,209,750. Calculated as 150% of Freddie Mac's 2026 national conforming limit of $832,750. This is the maximum value used in PL calculations regardless of higher property values.
How is the Principal Limit (PL) calculated?
Principal Limit = Maximum Claim Amount (lesser of appraised value or $1,249,125 cap) × PLF (Principal Limit Factor). PLF is from HUD's table based on (1) age of youngest borrower or eligible Non-Borrowing Spouse, and (2) the Expected Interest Rate (EIR = index + margin). Older borrowers and lower EIRs yield higher PLFs.
What is LESA (Life Expectancy Set-Aside)?
LESA is funds set aside from HECM loan proceeds to cover the borrower's property taxes and hazard insurance over their life expectancy. Required when the lender's Financial Assessment shows the borrower may not be able to pay these property charges. Fully-Funded LESA: servicer pays directly. Partially-Funded LESA: borrower pays; lender draws on LESA if borrower defaults.
How are Non-Borrowing Spouses protected?
An Eligible Non-Borrowing Spouse (married to borrower at closing, occupies property as principal residence, on the note covenants) can defer the due-and-payable event after the borrower's death IF: (1) continues to occupy the property; (2) maintains the property; (3) keeps property charges current; (4) becomes legal owner via probate within timely period. Cannot draw additional funds. If borrower is older and NBS is younger, the PL is calculated using the NBS's (younger) age.
What is HECM for Purchase (H4P)?
HECM for Purchase (H4P) allows borrowers age 62+ to combine HECM proceeds with their own cash (typically from selling a prior home) to buy a NEW principal residence in a single closing. Same HECM eligibility applies: counseling, financial assessment, FHA-eligible property. The borrower's portion = sales price (or appraised value, whichever less) - HECM proceeds + closing costs.