Free Practice Questions for RI MLO
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Key Facts: RI MLO Exam
75%
Passing Score
NMLS
55 Q
State Exam Questions
NMLS UST
20 days
Foreclosure Notice Minimum
Rhode Island
$25,000
Surety Bond Minimum
Rhode Island
The Rhode Island MLO state exam covers Rhode Island-specific mortgage laws administered by the Division of Banking. Combined with the national NMLS SAFE exam, candidates must pass both components to originate mortgages in Rhode Island. Rhode Island is a non-judicial foreclosure state using power of sale, has no post-sale redemption period, and features the Home Loan Protection Act for high-cost loans. Rhode Island's fair lending protections include sexual orientation and gender identity.
Sample RI MLO Practice Questions
Try these sample questions to review concepts for the RI MLO exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 200+ question experience with AI tutoring.
1What is the primary regulatory agency overseeing mortgage loan originators in Rhode Island?
2How many hours of NMLS-approved pre-license education must a Rhode Island MLO candidate complete?
3Rhode Island is classified as what type of foreclosure state?
4What is the minimum surety bond requirement for a Rhode Island mortgage loan originator?
5What Rhode Island law governs mortgage loan originator licensing?
6What continuing education is required annually for Rhode Island MLOs?
7Under Rhode Island's non-judicial foreclosure process, what is the power of sale?
8What background check is required for Rhode Island MLO applicants?
9What is the required notice period before a non-judicial foreclosure sale in Rhode Island?
10What enforcement actions can the Rhode Island Division of Banking take against a non-compliant MLO?
About the RI MLO Exam
The Rhode Island MLO state exam tests knowledge of Rhode Island-specific mortgage laws, licensing requirements, and consumer protection regulations. This exam is taken alongside the national NMLS SAFE exam component.
Exam sponsor: Rhode Island Division of Banking. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.
Questions
55 questions
Time Limit
1 hour 30 minutes
Passing Score
75%
Reported exam pass rate: 65-70%. estimated for state component 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.
Rhode Island Licensing Requirements
State-specific education, renewal, surety bond, and licensing requirements
Rhode Island Mortgage Law
Loan Broker Act, Home Loan Protection Act, usury laws, and lending regulations
Consumer Protection
State disclosure requirements, borrower rights, fair lending with broad protections
Regulatory Authority
Division of Banking oversight, enforcement, examination, and compliance
Foreclosure Procedures
Power of sale foreclosure, notice requirements, and borrower remedies
Preparing for the RI MLO Exam
What You Need to Know
- Passing score: 75%
- Exam length: 55 questions
- Time limit: 1 hour 30 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
RI MLO: Suggested Study Strategy
Frequently Asked Questions
What is the Rhode Island MLO exam?
The Rhode Island MLO exam is the state-specific component of the NMLS licensing test. It covers Rhode Island mortgage laws, licensing requirements administered by the Division of Banking, and state consumer protection regulations. You must pass both this state exam and the national SAFE exam.
How many questions are on the Rhode Island MLO state exam?
The Rhode Island MLO state exam has 55 questions with a 1 hour 30 minute time limit. You need 75% (approximately 41 correct) to pass. The exam is administered through NMLS at Prometric testing centers.
What Rhode Island-specific topics should I study?
Focus on the power of sale non-judicial foreclosure process, the Home Loan Protection Act for high-cost loans, the Division of Banking's enforcement authority, Rhode Island's broad fair lending protections including sexual orientation, and the Loan Broker Act licensing framework.
What are the Rhode Island MLO license requirements?
Rhode Island requires 20 hours of NMLS-approved pre-license education including 3 hours of Rhode Island-specific content, passing scores on both exams, FBI fingerprint background check, a minimum surety bond of $25,000, and license application through NMLS. Annual renewal requires 8 hours of CE.