An MLO candidate fails the state test with 74% on Monday and immediately schedules a retake for the following Tuesday. What will happen?
Correct Answer
D) The test will be automatically cancelled due to insufficient waiting period
The SAFE Act mandates a 30-day waiting period between failed test attempts. The NMLS system automatically enforces this requirement and will not allow scheduling or taking a test before the waiting period expires.
Why This Is the Correct Answer
The SAFE Act mandates a 30-day waiting period between failed test attempts. The NMLS system automatically enforces this requirement and will not allow scheduling or taking a test before the waiting period expires.
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