How many times can an MLO candidate take the Uniform State Test before being required to wait six months?
Correct Answer
B) Three times
According to 12 CFR 1008.107(f), after failing the test three consecutive times, a candidate must wait at least six months before taking the test again. The first three attempts have a 30-day waiting period between failures.
Why This Is the Correct Answer
According to 12 CFR 1008.107(f), after failing the test three consecutive times, a candidate must wait at least six months before taking the test again. The first three attempts have a 30-day waiting period between failures.
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