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264+ Free NV MLO Practice Questions

Prepare for the Nevada Mortgage Loan Originator Exam exam with instant access — no signup required.

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2026 Statistics

Key Facts: NV MLO Exam

75%

Passing Score

NMLS

55 Q

State Exam Questions

NMLS UST

20 hrs

Pre-License Education

NV Mortgage Lending Div

$50,000

Surety Bond

Nevada

The Nevada MLO state exam covers NV-specific mortgage laws administered by the NV Department of Business and Industry, Mortgage Lending Division. Combined with the national NMLS SAFE exam, candidates must pass both components to originate mortgages in Nevada. Nevada is a non-judicial foreclosure state using deeds of trust with power of sale clauses. The state enacted landmark protections including AB 284 (requiring proof of authority to foreclose) and the Homeowner's Bill of Rights. Nevada requires a $50,000 surety bond and has no post-sale right of redemption for non-judicial foreclosures.

Sample NV MLO Practice Questions

Try these sample questions to test your NV MLO exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 264+ question experience with AI tutoring.

1Which state agency regulates mortgage loan originators in Nevada?
A.NV Real Estate Division
B.NV Department of Business and Industry, Mortgage Lending Division
C.NV Financial Institutions Division
D.NV Department of Insurance
Explanation: The Nevada Department of Business and Industry, Mortgage Lending Division is the state agency responsible for regulating mortgage loan originators, mortgage bankers, and mortgage brokers in Nevada. This division oversees licensing, examinations, and enforcement.
2How many hours of NMLS-approved pre-license education are required for a Nevada MLO?
A.15 hours
B.20 hours
C.24 hours
D.30 hours
Explanation: Nevada requires 30 hours of NMLS-approved pre-licensure education under NRS 645B / NAC 645B.363: 3 hours federal law, 3 hours ethics, 2 hours non-traditional mortgage lending, 18 hours electives, and 4 hours of Nevada state-specific education. The federal SAFE Act floor is 20 hours; Nevada adds state-specific hours to reach 30.
3What type of foreclosure is primarily used in Nevada?
A.Judicial foreclosure only
B.Non-judicial foreclosure through deed of trust and power of sale
C.Strict foreclosure
D.Administrative foreclosure
Explanation: Nevada primarily uses non-judicial foreclosure through deeds of trust with power of sale clauses. This allows the trustee to foreclose without court involvement, provided all statutory notice and procedural requirements are met under NRS Chapter 107. Nevada's real estate market, especially Las Vegas, relies heavily on this faster process.
4What is the minimum surety bond amount required for a Nevada mortgage company under NRS 645B?
A.$10,000
B.$25,000
C.$50,000
D.$100,000
Explanation: Nevada mortgage companies must maintain a surety bond of at least $50,000 for annual loan production of $20,000,000 or less, and $75,000 if production exceeds $20,000,000 (NRS 645B). The bond is a company-level requirement filed through NMLS; employed MLOs must be named as principals on the company bond. It is not a separate personal bond for each individual MLO.
5Under Nevada's non-judicial foreclosure process, what notice must the trustee record to begin foreclosure?
A.A lis pendens
B.A Notice of Default and Election to Sell
C.A foreclosure complaint
D.A notice of sale only
Explanation: In Nevada's non-judicial foreclosure process, the trustee must record a Notice of Default and Election to Sell with the county recorder. This notice must be mailed to the borrower and posted on the property, and it starts the statutory timeline for foreclosure.
6Which Nevada statute primarily governs mortgage companies and MLO licensing today?
A.NRS Chapter 645B (Mortgage Companies and Mortgage Loan Originators)
B.NRS Chapter 645 (Real Estate Brokers and Salespersons)
C.NRS Chapter 679A (Insurance)
D.NRS Chapter 104 (Uniform Commercial Code)
Explanation: NRS Chapter 645B is the primary statute governing mortgage companies and mortgage loan originators in Nevada. Assembly Bill 468 (2017) consolidated former mortgage-broker (645B) and mortgage-banker (645E) frameworks into a single "mortgage company" license under NRS 645B effective January 1, 2020; NRS 645E was repealed as redundant. Mortgage servicers are separately regulated under NRS 645F.
7What continuing education must Nevada MLOs complete annually?
A.4 hours
B.8 hours
C.12 hours
D.16 hours
Explanation: Nevada MLOs must complete 8 hours of NMLS-approved continuing education annually, including 3 hours of federal law, 2 hours of ethics, 2 hours of non-traditional mortgage lending, and 1 hour of electives.
8What is the right of redemption period after a non-judicial foreclosure sale in Nevada?
A.No statutory right of redemption after a non-judicial foreclosure sale
B.30 days
C.6 months
D.One year
Explanation: Nevada does not provide a statutory right of redemption after a non-judicial foreclosure sale. Once the trustee's sale is completed and the deed is transferred, the borrower's redemption rights are extinguished. This differs from states with judicial foreclosure that often provide post-sale redemption periods.
9What is Nevada's position on usury limits for residential mortgage loans?
A.Strict 8% cap
B.10% maximum
C.Nevada does not impose specific usury limits on licensed mortgage lenders for residential loans
D.Fixed at prime plus 2%
Explanation: Nevada does not impose specific usury limits on licensed mortgage lenders for residential mortgage loans. Federal regulations and market competition effectively govern rates, though anti-predatory lending provisions and ability-to-repay requirements still apply.
10What is Nevada Assembly Bill 284 (AB 284) known for in relation to foreclosure?
A.Eliminating all foreclosure protections
B.Requiring lenders to provide proof of authority to foreclose and prohibiting robo-signing, increasing borrower protections
C.Allowing immediate foreclosure without notice
D.Eliminating deficiency judgments
Explanation: Nevada AB 284 (enacted in 2011) significantly strengthened borrower protections by requiring lenders to provide proof of authority to foreclose (such as demonstrating they hold the note), prohibiting robo-signing of foreclosure documents, and imposing criminal penalties for filing false foreclosure documents. This was a landmark consumer protection measure.

About the NV MLO Exam

The Nevada MLO state exam tests knowledge of NV-specific mortgage laws, licensing requirements, and consumer protection regulations. This exam is taken alongside the national NMLS SAFE exam component.

Questions

55 scored questions

Time Limit

1 hour 30 minutes

Passing Score

75%

Exam Fee

$110 (NV Dept of Business & Industry, Mortgage Lending Division)

NV MLO Exam Content Outline

25%

Nevada Licensing Requirements

State-specific education, renewal, and licensing requirements

25%

Nevada Mortgage Law

NRS 645B/645E, deed of trust, and lending regulations

20%

Consumer Protection

AB 284, Homeowner's Bill of Rights, disclosure requirements, fair lending

15%

Regulatory Authority

NV Mortgage Lending Division oversight, enforcement, and compliance

15%

Foreclosure Procedures

Non-judicial foreclosure, NRS 107, notice requirements, trustee's sale

How to Pass the NV MLO Exam

What You Need to Know

  • Passing score: 75%
  • Exam length: 55 questions
  • Time limit: 1 hour 30 minutes
  • Exam fee: $110

Keys to Passing

  • Work through all 264 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

NV MLO Study Tips from Top Performers

1Master Nevada's non-judicial foreclosure process under NRS 107: the Notice of Default, 90-day cure period, Notice of Sale, 21-day sale notice period, and trustee's sale — and know there is no post-sale right of redemption
2Study AB 284 thoroughly: requiring attestation of authority from the note holder before foreclosure, prohibiting robo-signing, and criminal penalties for false filings — this was a landmark Nevada law driven by the Las Vegas housing crisis
3Know the Homeowner's Bill of Rights (AB 321): single point of contact, good faith loss mitigation evaluation, and dual tracking restrictions
4Understand Nevada's deed of trust structure with three parties (trustor, beneficiary, trustee) and how the power of sale clause enables non-judicial foreclosure
5Review the $50,000 surety bond requirement and Nevada's deficiency judgment restrictions, especially the prohibition on deficiency judgments for purchase money loans on single-family residences

Frequently Asked Questions

What is the Nevada MLO exam?

The Nevada MLO exam is the state-specific component of the NMLS licensing test. It covers NV mortgage laws, licensing requirements administered by the Mortgage Lending Division, and state consumer protection regulations. You must pass both this state exam and the national SAFE exam to originate mortgages in Nevada.

How many questions are on the Nevada MLO state exam?

The Nevada MLO state exam has 55 questions with a 1 hour 30 minute time limit. You need a score of 75% (approximately 41 correct answers) to pass. The exam is administered through NMLS at Prometric testing centers.

What Nevada-specific topics should I study?

Focus on Nevada's non-judicial foreclosure process under NRS 107 (90-day cure period, 21-day sale notice), AB 284's requirements for proof of authority to foreclose, the Homeowner's Bill of Rights (AB 321), the deed of trust structure, NRS 645B/645E licensing requirements, the $50,000 surety bond, and Nevada's deficiency judgment restrictions.

What are the Nevada MLO license requirements?

Nevada requires 20 hours of NMLS-approved pre-license education, passing both the national and state NMLS exams, a criminal background check and credit report, a $50,000 surety bond (minimum), and registration through NMLS. Nevada also requires minimum net worth for mortgage companies.