Free Practice Questions for NY MLO
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Key Facts: NY MLO Exam
75%
Passing Score
NMLS
120 Q
SAFE MLO Test Questions
NMLS
11 hrs
Annual CE Required
NYDFS
190 min
Test Time
NMLS
New York MLO applicants pass the SAFE MLO Test (120 questions, 115 scored, 190 minutes, 75% to pass, $110) after 20 hours of NMLS-approved pre-licensing education that includes 3 hours of New York law. NYDFS licenses originators through NMLS, requires an MLO surety bond after approval, and requires 11 hours of continuing education each year, including 3 hours of New York law.
Sample NY MLO Practice Questions
Try these sample questions to review concepts for the NY 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 regulates mortgage loan originators in New York?
2How many hours of NMLS-approved pre-license education are required for a New York MLO?
3What type of foreclosure does New York use?
4What is the minimum surety bond or net worth requirement for mortgage bankers in New York?
5Under New York's judicial foreclosure process, what document must the lender file to begin?
6Which New York law is the primary statute governing mortgage lending?
7What continuing education must New York MLOs complete annually?
8What is the right of redemption period after a judicial foreclosure sale in New York?
9What is New York's position on usury limits for residential mortgage loans?
10What is the New York Predatory Lending Prevention Act (PLPA) designed to protect against?
About the NY MLO Exam
New York mortgage loan originator applicants take the SAFE MLO Test, the national test with uniform state content that every state uses; there is no separate New York exam. The test has 120 questions (115 scored) in 190 minutes and requires 75%. New York adds 20 hours of pre-licensing education with 3 hours of New York law, and licenses through NYDFS via NMLS.
Exam sponsor: NY Department of Financial Services (NYDFS). 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%. NMLS first-time pass rate for the SAFE MLO Test as of December 31, 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 (Regulation X), ECOA (Regulation B), TILA (Regulation Z) including HOEPA and MLO compensation, TRID, and other federal laws such as HMDA, FCRA/FACTA, BSA/AML, GLBA, the Homeowners Protection Act and Dodd-Frank
Uniform State Content
SAFE Act and CSBS/AARMR model state law, state regulators and NMLS, license qualifications, education and renewal, compliance and prohibited acts
General Mortgage Knowledge
Qualified and non-qualified mortgages, conventional and government programs (FHA, VA, USDA), loan products, and industry terms
Mortgage Loan Origination Activities
Application process and disclosures, tolerances, Loan Estimate and Closing Disclosure timing, underwriting, appraisals, title, insurance, closing and financial calculations
Ethics
Prohibited acts, fair lending, fraud detection, advertising, predatory lending and steering, and ethical conduct in origination
Preparing for the NY 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
NY MLO: Suggested Study Strategy
Frequently Asked Questions
What is the New York MLO exam?
New York does not give its own MLO exam. Applicants take the SAFE MLO Test, a national test with uniform state content, through NMLS, and New York law is covered in the 3 required hours of New York pre-licensing education.
How many questions are on the New York MLO state exam?
The SAFE MLO Test has 120 multiple-choice questions, 115 scored and 5 unscored, with 190 minutes to answer them. You need a score of 75% to pass, and the test fee is $110.
What New York-specific topics should I study?
The SAFE MLO Test has no New York-only section; its Uniform State Content (11%) covers the SAFE Act and model state rules. New York law is taught in the 3 hours of New York pre-licensing education and the 3 hours of New York law in each year's 11-hour continuing education requirement.
What are the New York MLO license requirements?
New York requires 20 hours of NMLS-approved pre-licensing education including 3 hours of New York law, a passing SAFE MLO Test result, a fingerprint background check, an application through NMLS, and an MLO surety bond after approval. Licensed originators complete 11 hours of continuing education each year, including 3 hours of New York law.