Advice On Passing The NMLS Examination By Arlene Di Sessa
This Article On Passing The NMLS Examination Was Written By Arlene Di Sessa
According to the NMLS, as of March 31, 2016, the national pass rate of the federal NMLS Examination is 65.5% for first-time test takers, 46.7 % for subsequent test takers, and 61.31% overall. What does this mean for you? Well, for starters, if you want to take the NMLS exam and pass the first time you really need to develop a study plan and you need to commit to that study plan.
Passing The NMLS Examination: Study Guides
Assuming you have completed the required 20 hour pre-licensing course, the first step is to find a study guide. There are hundreds of different study materials out there so this can be a very daunting task. Deciding what study material is a personal decision. Maybe someone recommended a study guide for you. In my case, a colleague recommended The Safe Mortgage Loan Origination National Exam Study Guide, by Patricia O’Connor. This study guide is an easy read and there are practice questions at the end of each chapter, along with two final exams.
I would recommend taking final exam number 1 before you even start reading the book. This will show you what areas you are weak in and you can focus on studying those areas more thoroughly than any other areas that you were stronger in.
Now is time to start reading the book. I made notes as I read, paying special attention to areas I was weaker in. At the end of each chapter is a special points to remember section. I rewrote each of these points to help instill the topics into my mind. I then took the chapter test at the end of each chapter. I continued with this method for every chapter.
Now that you are done reading the book, go back through and review each question that you got incorrect on the chapter tests. Make sure you don’t memorize the correct answers. Instead of memorizing the answer, make sure that you understand why you got the question wrong.
Now you are ready for the second final exam at the end of the book. Hopefully the previous study methods were enough to get you to pass the second final exam from the book. Make sure you go through the final exam and review each of your incorrect answers.
In addition to reading the book , I would take as many practice tests as possible. Your 20 hour pre-licensing course more than likely includes practice test questions. I would recommend taking those tests. The more tests that you take, the more practice you will have in answering the real NMLS test questions.
Most importantly, before the exam, make sure you get a good night of sleep. Don’t cram on test day because you want to be fresh and rested.
Here are 10 pointers for the exam:
- Read each answer option. For example don’t just automatically choose answer A. I always start by reading the last answer choice and working my way to the first answer.
- I would go with my first instinct on what the answer should be. I have found in taking many exams, that erasing my answers and changing them resulted in me selecting the incorrect answer.
- Make an educated choice if you are unsure of what the answer should be. Never just pick any answer. Most of the time, at least two of the answers are blatantly wrong. If you can eliminate those, you have a 50/50 chance of selecting the correct answer.
- If all else fails and you are unsure of what answer to choose, select the longest and most descriptive answer.
- Skip over questions that you absolutely don’t know. Save for review and come back later to review it.
- Read each question carefully. Look for key words such as except, always, or never.
- Double check your math. Use the calculator that the testing center provides you. You don’t want to lose points from mistakes that can be avoided from simple calculation errors.
- Make sure you don’t forget to answer each question. Don’t skip questions and forget to go back to answer them.
- If you are nervous take deep breaths and try to remain calm.
- Most important is to relax the night before the exam.
About The Author Of Passing The NMLS Examination: Arlene DiSessa
Arlene Di Sessa, the author of Passing The NMLS Examination, is a senior writer for Gustan Cho and Associates. Arlene Di Sessa has an MBA and a Master’s of Science Degree in Accountancy. Arlene Di Sessa has over 20 years of experience with federal and state income tax returns and over ten years of experience in business taxation, including leading and conducting audits of global and national corporations. Arlene Di Sessa is a licensed mortgage loan originator and the Branch Manager for the Money Store in Rocklin, California. Arlene Di Sessa’s goal is to have the number one producing branch of The Money Store in Rocklin, California and is aggressively recruiting quality mortgage loan officers who not just have a strong financial and educational background, but have a passion of helping families realize the dream of home ownership become a reality. Arlene Di Sessa strongly believes in interacting with borrowers as well as realtors so she plans on having her Rocklin, California office in a major populated area where borrowers and real estate professionals have easy access and parking.