NMLS Test Prep Full Webinar Access for 90 Days

NMLS Test Prep – Full Webinar Access for 90 Days Price $49 $39

Course/Package Information

Number of Classes: 1
Number of Lessons: 6
Supplemental Documents: 0
Time Allowed to complete course: 90 days
Final Exam: Yes

This course includes the following:
A1 – Webinar Access: Core courses including Federal Law, Ethics, Nontraditional Loans and Loan Fundamentals

NMLS Test Prep – Full Webinar Access for 90 Days Price $49 $39

State Exam Test Prep: Washington

Course State Exam Test Prep: Washington Price $47
$59

$47

This course includes the following:
SL WA1 – State Law – Washington
SL WA3 TP – Washington State Law Definitions

This course is designed to prepare you to pass the NMLS Washington, with material and questions all tailored to the test outline! This course includes:
1. Over 150 test questions that simulate the state exam questions:

a. You can take the test an unlimited amount of times

b. The questions are randomized so each test is different

c. Clickable wrong answers so that you know what section to review

2. Printable and Online slides

3. Notes that discuss each slide and provide further insight

The exam outline we follow is listed below. Please enjoy the class!

SAFE Mortgage Loan Originator

Washington State Law

Welcome to the Washington State Law component of your SAFE training.  This course fulfills the state-specific portion of the education requirement of the Department of Financial Institutions for an individual seeking to be licensed as a mortgage loan originator in the State of Washington.  Upon successful completion of this course you will have a strong understanding of the laws and regulations specific to mortgage loan originators and lenders in the state of Washington, as well as the information needed to pass the Washington State Exam.
If you successfully complete the practice test at the end of this course, you will be prepared to take the state portion of the pre-licensing exam.  However, it is unlikely that you will pass that exam unless you do the following:

1.    Give 100% of your attention to this class.  Turn off your cell phone, turn down the ringer on your home or office phone, and let everyone know that you should not be disturbed for the next three hours.  If you are at home, turn off the TV and your music player as well.
2.    Participate by taking notes and asking questions.  Taking notes helps to solidify information in your memory and asking questions will help both you and other students to understand the material covered.
3.    Study the materials provided.  We will be covering a great deal of information today.  You will need to study and review the materials several times before you will be prepared to take the pre-licensing exam.
4.    Take the pre-licensing exam within 10 days of completing this course.  We all start to forget what we learn within hours of finishing a class.  The sooner you take the exam, the more likely you are to pass.

About the Exam

Both the practice test that follows this course and state portion of the pre-licensing exam follow an outline provided by the Nationwide Mortgage Licensing System and Registry (NMLSR).  The general topics and proportion of questions follow this outline:

I.   State Regulatory Agency (5%)
II.  State Law and Regulation Definitions (10%)
III. Washington Licensing Law and Regulations (20%)
IV. Compliance (50%)
V.  Disciplinary Action (15%)

Course State Exam Test Prep: Washington Price $47
$59

$47

State Exam Test Prep: California

Course State Exam Test Prep: California Price $99 Today Only $79

This course includes the following:
State Exam Test Prep: California

This course is designed to prepare you to pass the NMLS California State Exam, with material and questions all tailored to the test outline! This course includes:

1. Over 150 test questions that simulate the state exam questions:

a. You can take the test an unlimited amount of times

b. The questions are randomized so each test is different

c. Clickable wrong answers so that you know what section to review

2. Printable and Online slides

3. Notes that discuss each slide and provide further insight

The exam outline we follow is listed below. Please enjoy the class!

 


SAFE Mortgage Loan Originator Test – State Component
California Content Outline
(50 scored test questions; 10 unscored test questions)

I. California Department of Corporations or California Department of Real Estate (5%)

A. Regulatory authority

B. Department/agency structure

C. Responsibilities and limitations

II. California Law and Regulation Definitions (10%)

A. Real Estate Law and Subdivided Lands Law (California Business and Professions Code Sections 10000 and 11288)

B. Regulations of the Real Estate Commissioner (Title 10 of the California Code of Regulations)

C. Administrative Procedure Act (Government Code Sections 11503 through 11528)

D. The California Residential Mortgage Lending Act

  • California Financial Code (Division 20, commencing with Section 50000)
  • California Code of Regulations (Subchapter 11.5 of Chapter 3 of Title

10,commencing with Section 1950.003)

E. The California Finance Lenders Law

 

  • California Financial Code (Division 9, Sections 22000 through 22780)
  • California Code of Regulations (Chapter 3, Title 10, Sections 1404 through 1570)

F. Civil Code (Sections 51 through 2995)

G. Penal Code (Sections 585 through 830.11)

H. California Financial Code (Sections 4970 through 51015)

I. Government Code (Sections 12900 through 12987)

J. Health and Safety Code (Section 35800 through 35833); California Code of Regulations (Section 7114)

K. Other State Law and Regulation Definitions

III. California License Law and Regulation (25%)

A. Persons required to be licensed

1. Activities requiring licensure
2. Exemptions

B. Licensee qualifications and application process

1. 1. Financial responsibility (surety bond or net worth or recovery fund)
2. 2. Background check and fingerprints (criminal check; credit report)
3. 3. Pre-licensing education and experience
4. 4. Testing and retesting

C. Grounds for denying a license

1. 1. Criminal convictions
2. 2. Previous revocation
3. 3. Prohibition

D. License maintenance

1. 1. Continuing education
2. 2. Personal information updates and required notifications
3. 3. Renewal
4. 4. Record keeping and reporting
5. 5. Suspension and reinstatement

IV. Compliance (50%)

A. Prohibited conduct and practices

B. Required conduct

C. Fees and charges

D. Disclosures and agreements

E. Advertising

F. Trust account requirements

V. Disciplinary Action (10%)

A. Notifications, hearings, and appeals

B. Suspension, revocation, and rescission of licenses

C. Penalties/fines

D. Civil and criminal liability

Course State Exam Test Prep California Price $99 Today’s Special $79