Iowa MLO Exam Info

Specific Iowa MLO Exam Content: There is no such thing as a "standard" mortgage loan originator Exam. All states have varied content from each other. This is why we spend so much time preparing the individual content for the Iowa MLO exam keeping up with the changes as they occur in Iowa.

MLO Practice Exams are organized into categories: When studying for your Iowa MLO exam it is important to know your areas of weakness. We have taken the time to divide up the content into categories such as Federal Law, Loan Origination, General Loan knowledge and ethics. Each Category is graded separately to make it easier to identify and focus on your areas of weakness. Also included are master MLO Exams which incorporate all of the different categories into one test to help prepare you for your Iowa MLO Exam.

Iowa MLO Exam Questions Questions Are constantly Updated: We constantly update all of our Iowa practice questions, including our national practice questions, our explanations and answers, and other content. These all unite to give you the most comprehensive and up to date information for your Iowa MLO Exam.

Obtaining a real estate license in Iowa, or other states in which you may have interest in doing business is not difficult, if you know what to expect. The process is slightly different from state to state. Each state has adopted and enforces its own laws and regulations regarding the practice of real estate. So you must study for the Iowa real estate exam specifically. For this reason, RealEstateStudyAid.com focuses on Iowa information to help you prepare for the State portion of the Brokers or Salesperson exam.

Salespersons

  • Must be 18 years of age - no residency or citizenship requirement
  • Must be sponsored by broker after they pass the exam; cannot apply for an inactive license
  • Complete the 60-hour pre-license course from an approved provider
  • Successfully pass the state and national portions of the examination
  • Undergo a criminal history and background investigation
  • Obtain errors and omissions insurance

Brokers

  • A broker applicant must have 24 months of active salesperson
    experience and complete 72 hours of broker pre-license education within the preceding 24 months
  • Successfully pass the state and national portions of the examination
  • Undergo a criminal history and background investigation
  • Provide verification of current errors and omissions insurance
  • Include current wall certificate with the application
  • Brokers who have never renewed as a salesperson must provide documentation of attendance of the following three courses: 12 hours buying practices, 12 hours listing practices and 12 hours developing professionalism and ethical practices.

Persons with an active license in another state may apply by reciprocity for both licenses applicable.

The exams are given by appointment only. To schedule, contact Psychological Services, Inc. (PSI) by calling 1-800-733-9267. Exam fees for all exams are $90.00.

For more detailed information go to: http://www.state.ia.us/government/com/prof/sales/home.html


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