Free Practice Questions for SC MLO
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Key Facts: SC MLO Exam
75%
Passing Score
NMLS
120 Q
SAFE MLO Test (115 scored)
NMLS
20 hrs
Pre-License Education
SC Board of Financial Institutions
$50,000+
Lender Surety Bond (by loan volume)
S.C. Code 37-22-140(F)
South Carolina MLO candidates take the single NMLS SAFE MLO Test with Uniform State Test content: 120 questions (115 scored) in 190 minutes, $110, passing score 75%. State law requires 20 hours of pre-license education with at least 3 hours on South Carolina law, work for a licensed mortgage lender, and 8 hours of continuing education each year including 1 hour on South Carolina law. The surety bond ($50,000 to $150,000 by loan volume) is posted by the mortgage lender, not the originator.
Sample SC MLO Practice Questions
Try these sample questions to review concepts for the SC MLO exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 200+ question experience with AI tutoring.
1How many hours of NMLS-approved pre-license education are required for an MLO license in South Carolina?
2Which agency is the primary regulator of mortgage loan originators in South Carolina?
3What is the minimum surety bond amount required for an MLO licensee in South Carolina?
4What passing score is required on the South Carolina MLO state exam?
5South Carolina permits which type(s) of foreclosure?
6What is the primary state law governing mortgage lending practices in South Carolina?
7How many continuing education hours does South Carolina require annually for MLO license renewal?
8What must an MLO applicant in South Carolina submit as part of the background check process?
9In South Carolina, what is the maximum conventional interest rate allowed before triggering usury provisions?
10What enforcement action can the SC Board of Financial Institutions take against an MLO who violates state mortgage laws?
About the SC MLO Exam
South Carolina mortgage loan originators qualify by passing the NMLS SAFE MLO Test with Uniform State Test content (120 questions, 190 minutes), the same test every state uses. South Carolina law adds its own licensing rules under the Mortgage Lending Act, administered by the State Board of Financial Institutions through NMLS.
Exam sponsor: SC Board of Financial Institutions. 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, TILA, ECOA, TRID, HMDA, FCRA, HOEPA and other federal rules for residential mortgage lending
Uniform State Content
SAFE Act and CSBS/AARMR model state law: licensing, NMLS, compliance, education and enforcement
General Mortgage Knowledge
Qualified and nonqualified mortgage programs, loan terms, ARMs, HELOCs and mortgage products
Mortgage Loan Origination Activities
Application, qualification, closing, financial calculations and disclosures
Ethics
Ethical issues, fraud detection, consumer protection, advertising and steering
Preparing for the SC 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
SC MLO: Suggested Study Strategy
Frequently Asked Questions
What is the South Carolina MLO exam?
South Carolina does not have its own MLO test. Since April 2021, every state uses the NMLS SAFE MLO Test with Uniform State Test content, and South Carolina licenses originators who pass it and meet the state's Mortgage Lending Act requirements, administered by the State Board of Financial Institutions through NMLS.
How many questions are on the SAFE MLO Test for South Carolina?
The SAFE MLO Test has 120 multiple-choice questions (115 scored and 5 unscored) and a 190-minute time limit. You need a score of at least 75% to pass, and the $110 test is offered at Prometric test centers and through Prometric online proctoring.
What South Carolina-specific topics should I study?
Know the South Carolina Mortgage Lending Act (S.C. Code Title 37, Chapter 22): originators must be at least 18 and work for a licensed mortgage lender; pre-license education must include at least 3 hours on South Carolina law and yearly continuing education at least 1 hour; lenders post a $50,000 to $150,000 surety bond by loan volume and file a yearly mortgage log by March 31. Mortgage brokers file separately with the Department of Consumer Affairs.
What are the SC MLO license requirements?
South Carolina requires at least 20 hours of NMLS-approved pre-license education including at least 3 hours on South Carolina law, a passing score on the SAFE MLO Test with Uniform State Test content, a national fingerprint-based criminal background check and credit report, work for a licensed mortgage lender, and application through NMLS. Renewal requires at least 8 hours of continuing education each year, including at least 1 hour on South Carolina law. Individual originators do not post their own surety bond; the employing mortgage lender does.