100+ Free NY MLO Practice Questions
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Key Facts: NY MLO Exam
75%
Passing Score
NMLS
55 Q
State Exam Questions
NMLS UST
11 hrs
Annual CE Required
NYDFS
$250,000
Banker Net Worth
New York
The New York MLO state exam covers NY-specific mortgage laws administered by the NY Department of Financial Services (NYDFS). Combined with the national NMLS SAFE exam, candidates must pass both components to originate mortgages in New York — the largest mortgage market in the nation. New York is a strict judicial foreclosure state with extensive borrower protections including the 90-day RPAPL 1304 pre-foreclosure notice, mandatory CPLR 3408 settlement conferences, the Predatory Lending Prevention Act, required interest on escrow accounts, and 11 hours of annual CE (exceeding the federal minimum). NYDFS is one of the most aggressive state financial regulators.
About the NY MLO Exam
The New York MLO state exam tests knowledge of NY-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 (NY Department of Financial Services (NYDFS))
NY MLO Exam Content Outline
New York Licensing Requirements
State-specific education (11 hrs CE), renewal, and licensing requirements
New York Mortgage Law
Banking Law 12-D/12-E, PLPA, mortgage tax, and lending regulations
Consumer Protection
RPAPL 1304, PLPA, GBL 349, disclosure requirements, fair lending
Regulatory Authority
NYDFS oversight, enforcement, consent orders, and compliance
Foreclosure Procedures
Judicial foreclosure, CPLR 3408 conferences, referee's sale, redemption
How to Pass the NY 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
- Complete 500+ practice questions
- Score 80%+ consistently before scheduling
- Focus on highest-weighted sections
- Use our AI tutor for tough concepts
NY MLO Study Tips from Top Performers
Frequently Asked Questions
What is the New York MLO exam?
The New York MLO exam is the state-specific component of the NMLS licensing test. It covers NY mortgage laws, licensing requirements administered by NYDFS, and state consumer protection regulations. You must pass both this state exam and the national SAFE exam to originate mortgages in New York.
How many questions are on the New York MLO state exam?
The New York 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 New York-specific topics should I study?
Focus on RPAPL 1304's 90-day pre-foreclosure notice, CPLR 3408 mandatory settlement conferences, the Predatory Lending Prevention Act (PLPA) for high-cost loans, NY's 11-hour CE requirement (3 extra NY-specific hours), NYDFS's regulatory authority, the mortgage recording tax, required interest on escrow accounts, NY's 2% late fee cap after 15 days, and the attorney-closing requirement.
What are the New York MLO license requirements?
New York requires 20 hours of NMLS-approved pre-license education, passing both the national and state NMLS exams, a criminal background check and credit report, and registration through NMLS. NY requires 11 hours of annual CE (3 more than the federal minimum). Mortgage bankers need $250,000 net worth and mortgage brokers need a $50,000 surety bond.