Nationwide Mortgage Licensing System (NMLS) Practice Exam

How many hours of continuing education are required annually for mortgage licensing?

1. 8 hours every year

2. 14 hours every year

3. 14 hours every 2 years

4. 20 hours every 2 years

The correct answer is: 8 hours every year

The requirement for continuing education for mortgage licensing is 8 hours annually. This aligns with the regulations set forth by the Nationwide Mortgage Licensing System (NMLS), which mandates that licensed mortgage loan originators must complete continuing education to ensure that they remain knowledgeable about current industry standards, regulations, and practices. This 8-hour requirement typically includes a combination of specific topics such as federal law, state law, ethics, and non-traditional mortgage products. Ensuring compliance with this requirement is vital for maintaining an active mortgage license, as it helps professionals stay updated with the ever-evolving landscape of the mortgage industry. Other options listed, such as 14 hours every year, 14 hours every 2 years, and 20 hours every 2 years, do not accurately reflect the established guidelines by the NMLS regarding continuing education for mortgage professionals.