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200+ Free VA MLO Practice Questions

Pass your Virginia Mortgage Loan Originator Exam exam on the first try — instant access, no signup required.

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What is the timeline for completing a non-judicial foreclosure in Virginia?

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2026 Statistics

Key Facts: VA MLO Exam

75%

Passing Score

NMLS

55 Q

State Exam Questions

NMLS UST

20 hrs

Pre-License Education

Virginia Bureau of Financial Institutions

$25,000

Surety Bond

Virginia

The Virginia MLO state exam covers Virginia-specific mortgage laws administered by the Bureau of Financial Institutions under the State Corporation Commission. Combined with the national NMLS SAFE exam, candidates must pass both components to originate mortgages in Virginia. Virginia is a non-judicial foreclosure state using deeds of trust, and the state requires a $25,000 surety bond for MLO licensees. Virginia's Mortgage Lender and Broker Act establishes the regulatory framework for mortgage lending.

Sample VA MLO Practice Questions

Try these sample questions to test your VA MLO exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 200+ question experience with AI tutoring.

1Which agency is the primary regulator of mortgage loan originators in Virginia?
A.Virginia Department of Professional and Occupational Regulation
B.Virginia Bureau of Financial Institutions under the State Corporation Commission
C.Virginia Real Estate Board
D.Virginia Department of Housing and Community Development
Explanation: The Virginia Bureau of Financial Institutions (BFI), operating under the State Corporation Commission (SCC), is responsible for regulating mortgage loan originators in the state. The BFI oversees licensing, examinations, and enforcement of mortgage lending laws.
2How many hours of NMLS-approved pre-license education are required to apply for a Virginia MLO license?
A.15 hours
B.20 hours
C.24 hours
D.30 hours
Explanation: Virginia requires 20 hours of NMLS-approved pre-license education, which is the federal minimum under the SAFE Act. This includes 3 hours of federal law, 3 hours of ethics, and 2 hours of non-traditional mortgage lending.
3What is the minimum surety bond amount required for a Virginia mortgage loan originator license?
A.$10,000
B.$25,000
C.$50,000
D.$100,000
Explanation: Virginia requires a minimum surety bond of $25,000 for mortgage loan originator licensees. The surety bond protects consumers by providing a source of funds if the MLO engages in misconduct or violates state lending laws.
4Virginia primarily uses which type of foreclosure process?
A.Strict judicial foreclosure
B.Non-judicial foreclosure through deed of trust
C.Administrative foreclosure through a state agency
D.Hybrid foreclosure requiring both court and trustee action
Explanation: Virginia is a non-judicial foreclosure state that uses deeds of trust. The trustee named in the deed of trust can conduct the foreclosure sale without court involvement, following the statutory notice and advertisement requirements.
5Under Virginia law, what is the primary statute governing mortgage lending and loan originator conduct?
A.Virginia Consumer Credit Code
B.Virginia Mortgage Lender and Broker Act
C.Virginia Fair Housing Act
D.Virginia Real Estate License Law
Explanation: The Virginia Mortgage Lender and Broker Act is the primary state statute governing mortgage lending practices and the conduct of mortgage loan originators. It establishes licensing requirements, prohibited practices, and consumer protections specific to mortgage transactions.
6How many hours of continuing education must a Virginia MLO complete annually to renew their license?
A.4 hours
B.8 hours
C.12 hours
D.16 hours
Explanation: Virginia MLOs must complete 8 hours of NMLS-approved continuing education annually, which is the SAFE Act minimum. This must include 3 hours of federal law, 2 hours of ethics, and 2 hours of non-traditional mortgage lending topics.
7What enforcement action can the Virginia Bureau of Financial Institutions take against a licensed MLO who violates state mortgage laws?
A.Only issue a written warning
B.Revoke, suspend, or refuse to renew the license and impose civil penalties
C.Only refer the matter to federal regulators
D.Only impose criminal penalties through the court system
Explanation: The Virginia BFI has broad enforcement authority including the power to revoke, suspend, or refuse to renew an MLO license, issue cease and desist orders, and impose civil penalties for violations of state mortgage laws.
8Under Virginia's non-judicial foreclosure process, what is the minimum notice period a trustee must provide before a foreclosure sale?
A.7 days
B.14 days
C.21 days
D.30 days
Explanation: Virginia law requires a minimum of 14 days' notice before a foreclosure sale under the non-judicial deed of trust process. The trustee must advertise the sale in a newspaper and provide notice to the borrower as required by the deed of trust and state statute.
9What disclosure must a Virginia MLO provide to a borrower regarding their compensation?
A.No disclosure is required under Virginia law
B.Disclosure is only required if the borrower asks
C.The MLO must disclose all compensation received from the lender or borrower as required by state and federal law
D.Only the total loan amount needs to be disclosed
Explanation: Virginia law, in conjunction with federal requirements, mandates that MLOs disclose all compensation received in connection with the mortgage transaction. This includes fees paid by the borrower and any compensation received from the lender, ensuring transparency in the loan process.
10Which of the following is a prohibited practice for a Virginia MLO under the Virginia Mortgage Lender and Broker Act?
A.Charging origination fees agreed upon in the loan estimate
B.Steering borrowers to loans that are not in their best interest for increased compensation
C.Offering both fixed-rate and adjustable-rate mortgage products
D.Collecting application fees as disclosed in writing
Explanation: Steering borrowers to loans not in their best interest to receive higher compensation is a prohibited practice under both Virginia and federal law. MLOs must act in the borrower's interest and cannot steer consumers to unfavorable terms for personal gain.

About the VA MLO Exam

The Virginia MLO state exam tests knowledge of Virginia-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 (Virginia Bureau of Financial Institutions (SCC))

VA MLO Exam Content Outline

25%

Virginia Licensing Requirements

State-specific education, renewal, and licensing requirements

25%

Virginia Mortgage Law

State mortgage statutes, usury laws, and lending regulations

20%

Consumer Protection

State disclosure requirements, borrower rights, fair lending

15%

Regulatory Authority

Bureau of Financial Institutions (SCC) oversight, enforcement, and compliance

15%

Foreclosure Procedures

Virginia non-judicial deed of trust foreclosure process and timelines

How to Pass the VA 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

VA MLO Study Tips from Top Performers

1Master Virginia's non-judicial foreclosure process through deeds of trust, including trustee responsibilities, notice requirements, and the lack of statutory redemption after sale
2Study the Virginia Mortgage Lender and Broker Act thoroughly, especially prohibited practices and compensation disclosure requirements
3Know the Bureau of Financial Institutions' enforcement powers under the SCC, including examination authority and civil penalty provisions
4Understand Virginia's trust account requirements and the strict prohibition against commingling borrower funds with operating funds
5Review the Virginia Home Protection Act provisions for high-cost home loans and additional consumer protections

Frequently Asked Questions

What is the Virginia MLO exam?

The Virginia MLO exam is the state-specific component of the NMLS licensing test. It covers Virginia mortgage laws, licensing requirements administered by the Virginia Bureau of Financial Institutions (SCC), and state consumer protection regulations. You must pass both this state exam and the national SAFE exam to originate mortgages in Virginia.

How many questions are on the Virginia MLO state exam?

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

What Virginia-specific topics should I study?

Focus on Virginia's non-judicial foreclosure through deeds of trust, the Mortgage Lender and Broker Act, the Bureau of Financial Institutions' regulatory authority, Virginia's consumer protection provisions, the $25,000 surety bond requirement, and trust account regulations.

What are the Virginia MLO license requirements?

Virginia requires 20 hours of NMLS-approved pre-license education, passing both national and state exams, FBI background check, a $25,000 surety bond, and NMLS registration. Virginia follows the federal 20-hour minimum without additional state-specific education hours.